Skylight PayCard let cardholders make purchases around the country using pre-funded money in their accounts. PayCard lets cardholders overdraw from their accounts, but only if they have enrolled in overdraft protection. As a rule, Skylight PayCard doesn’t let you go over your authorized amount. Skylight PayCard is an official Skylight ONE debit card from Netspend, which initiated this dynamic payroll program that benefits companies and employees. A user can activate a new card he/she gets via email and access his/her card account online. Along with accessing the account, a holder can also take advantage of the timely benefits that the company offers.
Does Skylight PayCard has an Overdraft?
If you’ve already registered for Skylight PayCard overdraft protection, you can overdraw your account. Otherwise, Skylight PayCard won’t let you go over what your card’s authorized for. BofI Federal Bank, an FDIC-insured institution, issues Skylight PayCard under license from Visa U.S.A. Inc. or MasterCard International Incorporated, whichever is applicable. Money loaded to your Skylight PayCard account is held at BofI Federal Bank.
What is the Skylight PayCard overdraft limit?
The Skylight PayCard overdraft limit is $100, and 3 times a month. Up to $10, there is no overdraft charge. After this, the fee is $15. Prepaid debit card users get overdraft protection when their balance drops below -$10.01. But you must enroll and receive a Skylight PayCard direct deposit of $200 or more every month. Skylight PayCard charges $15 per overdraft transaction, with a maximum of three transactions per month. The service is canceled if you have a negative balance for 30 days three times or for 60 days at one time.
Does Skylight PayCard have overdraft protection?
Yes, it has. The Skylight PayCard overdraft protection program is available to eligible cardholders through MetaBank. This feature lets account owners implement transaction fees or liabilities that exceed the card balance after meeting the eligibility requirements. You can withdraw from a negative account as long as you opt-in for overdraft protection with your bank. Then, you will not have to worry about your debit card being declined at the store.
How does Skylight PayCard Overdraft protection service work?
Skylight PayCard offers a $10 overdraft or purchase cushion once you’re signed up. This means you won’t get an overdraft penalty of $20 if they go over. But it’s not a permanent free pass. There’s a grace period of 24 hours for the cardholder to repay the negative balance before incurring an overdraft fee. In the case of overdrafts over $10, the cardholder will face a charge of $20 per occurrence, but it’s capped at five fees a month.
Netspend Skylight PayCard doesn’t approve every overdraft. Skylight PayCard’s terms and conditions say that it only pays overdrafts at its own discretion and doesn’t guarantee payment on every overdraft. Skylight PayCard charges no more than $50 for unauthorized transactions if Skylight PayCard is notified within two business days.
How to activate Skylight PayCard Overdraft protection service
Netspend’s Skylight PayCard overdraft protection requires a valid email address and agreement to receive disclosures and contract terms electronically. Also, a Skylight PayCard customer needs to deposit $200 every 30 days to qualify for overdraft protection. When a customer overdraws his account by more than $10, Skylight PayCard sends a notification. If the customer doesn’t top up the account within 24 hours, the balance falls below $10. Skylight PayCard charges a $20 overdraft protection service fee when a customer doesn’t act on the notice.
What is a debit card overdraft?
Overdraft service lets the bank put ATM and everyday (one-time) debit card transactions into overdraft if there isn’t enough money in your checking account to cover them. You can impose an overdraft limit on your bank to protect yourself. While you’re under this overdraft limit, you can withdraw money from ATMs.
How much can I withdraw from my skylight card?
The maximum skylight card withdrawal per calendar day is $1,000.00 from any participating ATM or POS terminal. ATM owners may set lower limits on how much can be withdrawn from their machines at one time than this.