You can transfer money from EPPICard to bank account and better manage your child's funds. Once the money enter your checking account, you can transfer to a savings account and keep for your child's needs such as school fees and also for more important uses.
The EPPICard is a debit card that allows you to receive child support payments electronically from several state governments through the state agencies in charge of distributing funds to eligible citizens.
You may usually transfer money from a prepaid debit card to a bank account. Although some of these cards are linked directly to bank accounts, others, such as EPPICard and Netspend, are not and rely on electronic topping up to allow you to use them for a variety of transactions. If the necessity arises, you can add a bank account to the card account.
EPPICard is a swift alternative to paper checks, which can take days to arrive at your location. Furthermore, paper checks take time to process, and one must wait for the check to be processed by the relevant bank before money can be deposited into the bank account on the due date. Checks bounce from time to time, especially when the information provided are not accurate which may lead to failure of the transaction.
That said, in this article, I will show you how to transfer money from EPPICard to bank account without hassle.
What is an EPPICard?
An EPPICard is a prepaid debit card that is electronically loaded with child support payments and issued by a state entity to custodial parents.
How Does an EPPICard Work?
State regulations vary, but in general, a state agency that collects and handles child support payments loads the funds onto a recipient's EPPICard within two banking business days after receiving the funds.
The electronic transfers are handled by the State of South Carolina Department of Social Services/Child Support Enforcement Division (CSED) in South Carolina, for example. Recipients can access their funds immediately and use their EPPICards everywhere debit cards are accepted.
How to Apply for an EPPICard
If you are a custodial parent, you can choose to receive child support payments via the EPPICard, and the payments will be sent via the card by the appropriate agency. Due to several issues associated with the payment mechanism, state governments are no longer accepting checks.
You should be aware that EPPICard is not a substitute for direct deposit into your bank account. Choosing to receive payments through debit card, on the other hand, will make it simple to access your funds.
When you select the EPPICard debit card as your method of payment, the agency will mail your debit card to the address you specify. After you submit your application, you should receive your debit card within a few days. The card should then be activated via an automated voice response system when you call the number provided with the card.
How to Activate An EPPICard
After your state organization issues you an EPPICard, you'll need to activate it using an automated voice-response system. These instructions will come with your card, but you won't be able to use it until the first deposit is made to your EPPICard. EPPICards are guaranteed by the Federal Deposit Insurance Corporation (FDIC) and are protected by the Personal Identification Number (PIN) you choose during the activation process.
Who is Eligible for EPPICard Payments?
The EPPICard can be used to receive child support payments if you are the custodial parent. You can also choose for a direct deposit instead of using the EPPICard debit card if you have a checking or savings account at any local bank.
You must make a request to have the money deposited in your bank account if you choose direct deposit. If you live in Mississippi, for example, you will need your bank account and routing numbers. Then, go to the Constituent Services Portal, tap Case Payments, and then Direct Deposit.
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How to use the EPPICard Debit Card
You can use the EPPICard debit card for various types of transactions.
1. Transfer Money to a Bank Account
You can transfer money from your EPPICard to your bank account or another bank account that isn't yours. To begin the process, you must first log onto your card account online. Because modern-day life necessitates the use of a bank account, it is always necessary to have one. Some businesses and organizations are unable to take payments without the use of a bank, in which case a debit card will be useless.
Most financial organizations provide free bank account opening. You can even open a free checking account with no opening deposit no credit check to use for a variety of transactions.
2. Buy Goods and Services
You can use your debit card to pay for products and services anywhere that accepts the card. You may use the card to pay for your purchases at businesses like grocery stores, restaurants, gas stations, and supermarkets.
You may also use the card to check out online at places like Amazon, Walmart, Zappos, and eBay, among others. The transaction money is deducted from the card's account and put in the merchant's account automatically.
You can also set up automatic payments for utilities like water, electricity, land fees, and internet. As a result, you won't have to pay manually every month. Even if you forget, as long as you have enough money in your account, you will be able to pay your bills.
3. Withdraw Money at an ATM
EPPICard supports ATM withdrawals, and you can receive money out of your card at an ATM location. Before completing the transaction, double-check that the ATM supports the card issuer. To authorize the withdrawal, you'll need the card's PIN.
When compared to withdrawing money from a bank account, which might take a lengthy time, ATM withdrawal ensures that you get money out of your account faster. When you go to the EPPICard website and click on ATM Locators, you may start looking for an ATM. You can get quick access to your child support funds by withdrawing money from an ATM. You'll appreciate how simple it is to get help for your child.
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Can I Transfer Money from EPPICard to Bank Account?
Yes, you can. You can transfer money from EPPICard to bank account and the process can be completed online. All you have to visit the EPPICard website and follow the steps after tapping Send Money.
Keep in mind that you will be charged $1.50 for every transfer of funds made to a US bank account. Also, the currency conversion fee of 2% of the US dollar amount of the transaction — added to both ATM and point-of-sale transactions.
How to Transfer Money from EPPICard to Bank Account
You can transfer money from EPPICard to a bank account. Once the funds arrive your checking account, you can then transfer the funds to a savings account or other bank accounts without hassle.
To transfer money from EPPICard to bank account, login to EPPICard website, navigate to the money transfer section, enter bank details to your bank account and then, transfer the money. Each EPPICard to US bank transfer costs $1.50 from your card account to any US bank account.
Because EPPICard is considered an independent bank, you must deposit funds directly into the designated bank account. The routing and account numbers of the relevant bank account will be required to complete the transfer.
Once you have initiated the transfer process, the money will not reflect instantly in your bank account. The money will arrive in your bank account after a few days, usually 3-5 days. Your EPPICard account will be debited automatically for the amount you transfer.
How is the EPPICard Beneficial to a Custodial Parent?
The EPPICard is beneficial to custodial parents in the following ways.
1. The EPPICard Reduces the Time Taken for Payments to Reach the Concerned Families
Once the money have been processed, they normally appear within two business days. It takes a little longer in the case of checks and banks, and you may be obliged to source cash from other sources while you wait for your disbursement, resulting in indebtedness.
2. Reduces the Loss of Payment
Payment via check is risky since you could misplace your check on the way to the bank to deposit it. Using a credit card to receive funds means that you do not lose money as soon.
3. Offers Convenience and Safety to Clients
You can buy goods and services with your debit card instead of using cash. When you check out with the card, you can use your balance. Card payments are extremely safe, and there is no need to be concerned about the card's security.
4. The Debit Card Eliminates the Check Cashing Fees
Due to the introduction of the card, paying check-cashing fees is no longer necessary, as you may now save significant amounts of money to utilize for other advantageous transaction activities.
5. You can Monitor the Debit Card Transactions Online
You can easily monitor your account activities online once you receive the card. It's simple to keep track of your spending and understand where you can make changes if you observe inappropriate spending of custodial funds.
6. Customers Receive Statements Detailing Transactions
You can receive account statements by setting up regular email notifications to your email address. Statements provide detailed information on how you spent money over the course of a month.
7. You Get 24-hours Access to Funds
When you receive the card, you'll be able to withdraw money from an ATM with ease. ATMs don't have any restrictions on when you can withdraw money from your account. You can also pay for goods and services at any time of day.
Can You Transfer Money from Child Support Card to Bank Account?
Yes absolutely. You can transfer funds from a child support card to bank account without hassle. Most child support cards such as the EPPICard lets you transfer funds to a bank account online. However, when transferring money to a US Bank Account, you will be required to pay a fee for the transaction.
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If you look after a child, EPPICard is a debit card that allows you to collect custodial payments. The card serves as a means of electronically accepting funds from the intended receivers. When you create an account, you'll be able to manage your card online. You can use your debit card to get cash from an ATM, send money to a bank account, and pay for goods and services.
Transferring money from EPPICard to bank account can help you better manage the funds for your child. Once in your checking account, you can then move it to a high interest savings account to get more interest on the money.