Posted by Chuck on May 15, 2017
Checking Accounts

Published on May 15th, 2017 | by Chuck

1,087

Insight 5% APY Prepaid Card on up to $5,000

Originally posted on 3/31/16. Updated and reposted on 5/15/17.

Insight card has changed over their backing bank from Axiom to Republic Bank. The 5% savings account is still live and kicking. But you’ll have open a new account since all accounts under Axiom Bank will stop earning 5% at the end of June. They aren’t automatically transferring the funds – you have to get the funds out of your old Axiom Insight account and separately put funds in your new Republic Insight account.

  • Interest Rate: 5% APY
  • Minimum Balance: $10
  • Maximum Balance: $5,000
  • Payments: Issued quarterly
  • Availability: Nationwide
  • Direct deposit required: No
  • Additional Requirements: None
  • Hard/soft pull: Soft
  • Credit card funding: No
  • Monthly fees: None (use pay-as-you-go plan)
  • Insured: FDIC
  • Length of promotion: Unknown (it’s been ongoing at least since the beginning of 2014)

The Offer

Direct Link

  • Open an Insight prepaid card and you’ll be eligible to open a connected Savings account with 5% APY interest rate
  • Max of $5,000 can be added to the Savings account
  • Interest is paid out quarterly

The Insight prepaid card is a Green Dot product and operated by Republic Bank of Chicago. You can read the official terms of the 5% account here (pdf). No hard pull is being done when opening the card, as is the case with most/all prepaid cards.

According to this Reddit thread, any money above $5k in the account will earn 5%, just the system doesn’t allow you to add more than $5k. If you earn interest, leave the interest in the account and you’ll earn 5%, despite it being more than $5k in the account.

Loading the Card

Load the card by sending money via ACH-push from your regular checking account or Paypal account. Simply add the prepaid card to your bank or to Paypal, same as attaching any bank account, and push money from there into the Insight account.

The routing number for Insight (the new version with Republic Bank of Chicago) is: 071025797. And your account number can be found in the login (Add Money > Direct Deposit).

Note: Often when pushing money from your bank or Paypal, they’ll do trial deposits and then pull those out. Insight won’t necessarily allow that pullback which might cause your bank not to allow you to complete the linking of that account. Best is if you can find a way to push funds without the trial deposit, e.g. real direct deposit, tax refund, maybe investment account (?), or similar.

Unloading the Card

Some people are nervous to put emergency savings in a prepaid card without know how they’ll get the money out. There are a few options for unloading including: bill pay, ACH-pull, buying money orders, and convenience check.

Before we dive into the details, remember that all unloading is done through the prepaid card; first transfer the money from the Savings to the Prepaid and then you can use one of these options to unload. Also, bear in mind that there may be some limits as to how much you withdraw per day, e.g. you might have to do $2,500 one day and $2,500 another day. Prepaid card often have these kinds of limits, though reports indicate that with Insight you can pull out the entire $5k at once (savings > checking > bank).

Bill Pay: There is a bill-pay option in the login, but I wasn’t able to easily find regular credit cards as payees. They may be lurking there somewhere, though.

ACH-Pull: The easiest option would be to use the routing and account numbers to ACH-pull money out of the account, either to your regular bank account or to pay a bill, e.g. a credit card bill. The card comes with a routing/account number and it should be possible to ACH-pull money out of the account. I’ve had success doing ACH-pulls multiple times.

Buy Money Orders: We can always unload by purchasing money orders from Walmart or wherever else they allow PIN-based debit cards to buy money orders. Some Insight transactions (e.g. bill pay) are limited to $2,500 per day and there may be such a limit on purchases as well.

Convenience Checks: For a small fee, you can unload through convenience checks. Looks like it will cost $7 to unload a full $5k from the account using convenience check; $5 to order the checks, and $1 per check (you’ll probably have to split it up into two $2,500 checks). It will also take time to execute.

Avoiding Fees

Like all similar prepaid cards, there are lots of fees if you use the card for purchases, transfers, or even a $1 fee for speaking to a live customer service agent.

Stick with the pay-as-you-go plan and there is no monthly fee.

If you don’t use the card for purchases or ATM withdrawals, and you manage your account online without calling up customer service, you should be able to keep it completely fee-free. Direct deposit, bill pay, and managing your account online are all free.

Inactivity Fee (90 Days)

One fee to be aware of is an inactivity fee of $3.95 when no purchases, cash withdrawals, or load transactions were made for 90-days. Automate a $1 transfer from your regular bank account to keep it fee-free.

The Fine Print

  • Interest is compounded daily and paid quarterly; if you close your Insight Savings before interest is credited, you will not receive the accrued interest
  • Interest rate is 4.88%, with an APY of 5%
  • When creating the savings account, the minimum amount to open the account is $10

Our Verdict

The Insight card is the best high-interest prepaid card now that Netspend limits us to just $1,000 in 5% earnings. The card also stacks up nicely among high-yield checking and savings accounts. See a full list of options and analysis in our post on Best High-Interest Savings Account.

 



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1087 Comments on "Insight 5% APY Prepaid Card on up to $5,000"

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joe
joe

I’ve been toying around with the idea of opening an axiom checking account to liquidate MO from MS at Walmart. This may be the push I need. Anyone have experience with Axiom?

Robin
Robin

When I went to sign up, it asked for a referral code. What are the details of the referral and does anyone have a referral link?

Mike
Mike

Lame. Card not available for GA.

Lea King
Lea King

I’m in Atlanta and just got one. Maybe this has changed since last year.

Matt
Matt

I signed up a little while ago and was able to fund with no issues. Only problem is for those who use mint.com, it seems to be having trouble connecting. This was a nice addition to the netspend flavors.

Bob
Bob

Matt:
Re: Mint
If enough of us requested it to be added to Mint, Mint might fix this one as well as Western Union.

Kevin
Kevin

I discovered that you can actually add the Western Union Netspend into Mint!

If you add a second Netspend account into mint, but use your Western Union login credentials (instead of your regular Netspend credentials), it will add it to Mint! In other words, you add two regular netspend accounts.

You can do the same with HEB too, or any Netspend account for the matter.

Try it out. Let me know if what I wrote makes sense.

Charly Chang
Charly Chang

I opened one, let’s see how that works. thanks! Chuck

Jackalope
Jackalope

A comment and a question. First, If you put the $5,000 max in the checking account, the yearly interest rate is 4.88%, rather than the full 5%, since they aren’t compounding any balances over the original $5,000.

Second, if I understand this correctly, if you put $5,000 into the checking account (pay as you go) you will get just over $20 a month interest ($244 for the year). If you ach pull this $20 out of the account once each month after the interest is posted, leaving that initial $5,000, you will incur no fees and satisfy the inactivity clause while maximizing the account’s payout. Theoretically, you should be able to do this forever until you decide to unload the initial $5,000. Is this assessment correct?

Charly Chang
Charly Chang

I think you are right except for that the interests is only paid out every quarter.
But I also think you play the game too seriously! 😀

For all netspend accounts, I just leave the interests there and only ACH pull once or twice a year. I do have an automatic ACH push to these accounts every other months. The interest is small money, does not really worth the time and trouble to pull every month.

Dan
Dan

The only flaw I see with your logic is you can’t put the $5,000 in the checking account and expect to get the high yield interest. It has to be in the savings account.

Sittaima
Sittaima

Any referral code?

AD
AD

Are the savings accounts FDIC-insured? It looks like they are but I wasn’t for sure – The interest rate is very attractive at 5% for my emergency fund.

Has anyone heard if the interest rate has changed or how they let you know if and when it does?

Tucknology
Tucknology

At the bottom of the website it says “The Insight Savings Account (“Savings Account”) is made available to Cardholders through Republic Bank of Chicago or Axiom Bank®, Members FDIC.”

Simple
Simple

I’ve been having trouble linking my checking account with this account (rejected twice by Alliant). I noticed this:

“IMPORTANT NOTICE: YOUR INSIGHT CARD ACCOUNT CANNOT BE USED TO ADD MONEY TO YOUR PAYPAL ACCOUNT. When you make your first transfer to your account PayPal will send two small deposits to this account and ask you to confirm these deposits with your bank. YOU WILL NOT BE ABLE TO CONFIRM THESE DEPOSITS OR VERIFY THIS ACCOUNT. This account cannot be used to add money to your PayPal account.”

Prasanna
Prasanna

I had a same scenario with Gobank when I was trying to link Gobank in Paypal.

Jeff H
Jeff H

I attempted to add the Insight account info to PayPal, but Paypal refused indicating that bank was blocked as of the timestamp of this posting. So every where I go wants a fee to make deposits.

I am not sure that I understand the card to card no fee to transfer in the fee structure.
Contacting them to ask questions involves a service fee.

Has anybody done a VGC or MCGC or AMEX GC transfer to the Insight Card? I fail to see a way to do something like that on the account page.

AB
AB

I successfully loaded a OV VGC to my Insight account at Family Dollar. They charged my $3.95 to do it. To avoid too much confusion on their part, I loaded $480 even, leaving me with $16.05 on the card. The way I looked at it:

5% CB = $25.25.
Initial fee = 4.95
Load fee = 3.95

Net profit = $16.35 — roughly what I had on the card.

Ken
Ken

@AB – You don’t have any bank accounts that can link to Insight?

AB
AB

I do. But what’s the connection? You can MS your savings and earn money on the side.

Ken
Ken

But you’re doing it all wrong. Why are you paying to load funds onto the card when you can do that for free by linking a bank account?

AB
AB

I’m not paying. I’m making money on it. Read the above. If I load up my Insight card with 11 VGCs I have from maxing out my Dividend card at CVS, I’ll have made $179.85. You, on the other hand, earned $0. Both of us have $5,000 in the account.

Seems to me like you’re doing it wrong.

Ken
Ken

No CVS in my state 😉 So you get 5% cashback on drug store spend? Why not just use those VGCs to buy a money order at $0.70 per $1,000, deposit in your bank, and you can even cut out the Insight loads and their accompanying fees. That’s almost $40 profit per $1,000 VGCs at CVS. Seems like Insight is just a waste of time and money.

Wish I had a CVS near me so I could take advantage of these deals.

Eric
Eric

AB,

Shouldn’t you be buying 12 to max it out? I realize you would earn 0% on around $50 of the 12th but you could split tender with another card if you wanted every penny.

Are you sure that Insight won’t shut you down for this? I haven’t read about anyone trying this so it’s anyone’s guess if they are okay with it.

Eric
Eric

Ken,

Am I correct that you are referring to buying a MO at Wally? If so, OV cards don’t work there which is what AB bought at CVS.

Even if they did, there’s no guarantee AB would be allowed to use a gc to buy a MO.

Ken
Ken

@Eric – Yes, WM. I forgot that Vanilla doesn’t place nice with WM. Can always go to the post office I believe. MOs at WM with a GC are highly location specific, so the only way to know would be to try it out at several locations.

AB
AB

@Eric,
Very true but I actually spent about $550 on it in Q1!

Insight may shut you down if you overdo it, but I loaded one a week at FD. 7 down, 4 to go.

@Ken,
You Can use them at USPS for MO, but that’s still one at a time. I have almost unlimited MS bandwidth to but gc but very limited to cash them out. This is a nice side addition.

Ken
Ken

This is just basically another 5% account? Why the lengthy mention for how to load/unload the account? Shouldn’t we just park $5k in here and then leave everything alone except for an ACH push/pull to avoid the dormancy fee?

I’m trying to find more ways of generating passive income.

Karl1402
Karl1402

I’ve had issues aching money back to my bank. Would not recommend.

AE
AE

I know this is a “bank” but something inside of me recoils at the last step of the application of giving them my SS number…. I think I will stay with banks 3% + ….

Ken
Ken

You need to provide a SS# for prepaid cards like the old Target card, Serve, Bluebird, etc. How is this any different?

Robin
Robin

Even a bank needs your SSN.

joe
joe

I tried opening a netspend account…. but neither TD Ameritrade, Schwab or Vanguard were willing to ach money to the account. Can you do a post on what banks work well with these prepaid type cards?

Jackalope
Jackalope

Doing a P2P payment with Capital One 360 works to do an ACH push payment to pretty much anything that you have a Routing / Account number. I would be very surprised if it doesn’t work for this product.

By doing a P2P payment, they don’t require account validation using the test push / pulls. You can’t do an ACH PULL payment this way. Note that CapOne360 also has a transfer account linkage system where account validation is required.

Kapil
Kapil

Does this work now also?I don’t find a P2P Option with Capital one 360 – only zelle is available for P2P and that takes only phone number /email but for insight card I don’t see option to receive using phone/email.

Robin
Robin

Ally works for Netspend

Prasanna
Prasanna

First Tennessee worked for me.

Tom
Tom

Good to know. It also works for cards linked with BOFI, but not for cards linked with MetaBank.

barrytuneup
barrytuneup

never had trouble with ACH in or out with Everbank! Worked on all 5% acct (netspend/WU/Heb etc)

Jay
Jay

I’ve used Ally for my other 5% accounts, does anyone know if that works for this too wthout issues?

hardy
hardy

This is posted today on 31st March & I applied for this card today only. when I can fund my account? I think After getting my card in mail within a week? after activating it…..
Some of the comments here it shows today only they funded their account, how come they did that?
Sorry I am new to this 5% card account, this is my 1st one…..can anyone explain me please?….Thank you

Prasanna
Prasanna

There is a $4.95 load fee if we are loading in the register of partners. There are also load partners in Insightvisa.com. Do any of the current users know does the same load fee applies to the load partners as well? I just signed up and I couldn’t see the list. Thanks.

Jeff H
Jeff H

Their website came up with a find a location page which showed me some check cashing places that will accept Insight card cash deposits for a $2.00 fee.

tbradnc
tbradnc

I’m holding on this until I there are data points on being able to ACH pull money from the card back to an online bank (Ally preferably).

I’m pulling money off these 5% cards semi-annually but when I want to do it.. I want to be able to do it. 🙂

Erik
Erik

I just applied for the Insight card but I apparently failed the ID check for unknown reasons (possibly because I was not sure which hospital was closest to me; I still don’t know 100% for sure).

They told me that I need to visit a partner location. The closest one is in a different city, more than 500 miles away……

Anyone had any luck getting a card after they failed ID verification?

Octavio
Octavio

I had the same thing happened to me – my credit is blocked with all 3 bureaus and although prepaid cards don’t check your credit, I always have problems opening accounts, I actually had to unblock it to get Mango and Amex for Target approved. I got the same message as you regarding failed ID verification and needing to go to a partner location. So, I wrote it off, however I received an email the next day from Alerts@InsightCards saying:
“Your new Insight Visa® Prepaid Card personalized with your name is on the way. Get started with Insight benefits”

The message was flagged as fraud/junk by hotmail so it was in my Spam folder. I called them up to verify if a card was indeed sent, the girl said yes and then explained the benefits of the platinum plan 🙂 I have to wait around 7 days to get my shiny new card as it’s on the way, so check out your junk/spam folder, you might have been “approved” w/o even knowing just like I was.

erik
erik

@Octavio,
No, I don’t have any E-mails from Insight (also not in SPAM). I talked to a manager who said that 1 wrong answer should not cause ID verification failure. I am at a loss why I failed, and he couldn’t give me any advice on who to contact to find out why.
Anyway, he gave a closer location (20 miles away) so I will apply in person.

Do you have a referral code? We both will get $20. You should have received a mailer. If not maybe online, or you can call them to ask. My GF may first try to apply using your referral code.

Octavio
Octavio

Awesome! Nah, no referral codes here. I haven’t gotten anything from them, except for that welcome email. I don’t know if there are live referral codes out there and I think Chuck mentioned he did not see any on his account 🙁
Best of luck applying in person and next time use google to locate your nearest hospital ;-P

Erik
Erik

I talked to Insight customer service. They told me that users should have received a miler with a promo code; $20 for each. She said that customers can call in to get the codes otherwise (ask them to waive the $1 call fee)

Actually, I did do a Google search for Hospitals but the issue is that the names don’t match exactly. Anyway, based on what I entered it should be correct. An Insight manager also said that a single wrong answer should cause failure (I had all correct!)

I wonder if the reason for failure is instead that I had my VPN enabled when I applied. It has caused issues in the past. They may not like it if they don’t have your real IP because someone may apply from a a sanctioned country!

Loya
Loya

Who are their partners?
If one of these partner locations is close to us, my wife will go there to open an account in person.

(My wife always gets rejected for prepaids, and that’s a mystery for us. We tried perhaps 10 prepaids during the last 3 years, and every single one of them failed in identity verification. She doesn’t have that problem with credit card, bank accounts, car loans, etc. )

Jeff H
Jeff H

Turns out some check cashing/cash advance places sell the Insight card.

e
e

Good call of the Spam folder. My gmail put the approved “Alert” in there. Was waiting over a week for the card and thought i may not have been approved until i found it in Spam.

e
e

Any more info on ACH Out?
Thanks

Erik
Erik

@Chuck,
No, I don’t have an account yet so they can’t give me a code.

I called and asked if they were running an referral promo and CS said that they do ($20/$20). I need to get the code from a current member.

The member should have received a mailer, or the member may call in to get their code over the phone. She thought that a current member may also see it after logging in, but she wasn’t sure about that.

Kevin
Kevin

Anyone been able to do an ACH pull using a bank such as Ally? Am interested in snagging on these and adding to my 5% card collection, but not sure if its worthwhile if all the money getting put in there can’t be quickly pulled out.

tbradnc
tbradnc

Even if you can ACH money out on the card you can only do a max of $1500 per day so it’d take you 4 days to pull the money off. I’m going to pass on this one.

Erik
Erik

How does that compare to the other Netspend cards?
Can you ACH out $5K in one transaction with them?

Tom
Tom

I was told by a Netspend CSR that $1500 is the limit, and I have successfully done a $1500 ACH pull. I have not tried to do more than one $1500 ACH pull within 24 hours, but doubt it would work.

e
e

Really $1500 on netspend? I was pretty sure someone from fat wallet? ach pulled 5000 out a number of times on a few diff netspends as a test?

Erik
Erik

I just talked to a supervisor at Insight;
1. Application: If you stay on the ID verification page >4-5 min, you will fail (that is what happened to me)

2. Referral: We can only use this if the account holder got a letter with a referral code (not available online or by calling)

3. Withdrawal (from card account):
A. Through ATM: Max $2,500/day
B. Cash Advance (in Bank) MAX $5000/day
There is a $2.50 fee for ATM, and 3% for Cash Advance(!)
Thus, if you have an ATM with a $500 limit it will cost $25 to w/d the $5000.
It may still be worth it for some as the interest is $20.83/month
(for someone with a Reward account at 2.5% instead, it would take less than 3 months to break even)

Erik
Erik

Could someone confirm that direct deposit is still not required to open a Savings account? It can simply be done after activating the card?

Chris
Chris

Tried linking this Insight account with Capitol One 360, BOA and looks it’s not going to work. Even PayPal is not working, even though Insight is claiming it should work as a way to fund the account. Not sure what other options are out-there. Maybe just sending them a check form my checking account?

As far as pulling the money from Insight, I figured I can always request the convenience checks when ready to liquidate the account.

Erik
Erik

Did you get convenience checks when opening the account or did you need to order them ($5/12 checks)? Max check amount is $2,500, so I guess you need to authorize two checks ($1/authorization). Thus, $7 total to to liquidate the account?.

Chris
Chris

FYI, I was able to link BOA with Insight. Probably because BOA sent two trial deposits IN, and did not take money out.

Dana Smith
Dana Smith

I just linked with Cap 360 today with no issues.

Peter
Peter

After I typed my SSN and clicked next when trying to order a card,it shows:
We are sorry but we are unable to issue you an Insight Card at this time. Please visit any of our partner locations to apply for your Insight Card.

I have no difficulties when applying other bank accounts and credit cards.Could anyone tell what goes wrong?Thanks.

Matt
Matt

I got tthe same error. I waited 24 hours then logged on to my work VPN and I reapplied with no issue. Card received and funded through ALLY with no issue.

Wyle
Wyle

Did ALLY do trial deposits to Insight?
Did they show up in your Insight transaction history?
Was ALLY able to pull the deposits back?

Matt
Matt

Yes Ally did trial deposits and they showed in my history. I initiated a $500 withdrawal today through Ally from Insight. I will post back and let you know happens.

Matt
Matt

I can verify I was able to ACH out $500 from my Insight account into my Ally account. No problems on this end.

anthonyjh21
anthonyjh21

Appreciate the follow up. Have you tested the $1.5k daily limit by any chance? I’m guessing we’re better off not trying to find out. At least not intentionally.

Filip
Filip

Have the same problem.
Might be because of the usage of a VPN. Will try again tomorrow.

Lucy
Lucy

Where do I check to make sure I am on pay-as-you-go plan? I can’t find a place online. Thanks.

Ken
Ken

If it’s anything like the Netspend cards that’s the default plan.

Shaun
Shaun

When I add my Insight card to my Ally account my, should I choose checking or savings for the account type? It’s not really either…

Ken
Ken

The debit cards are all considered checking, and the savings are considered savings as they have the 6 withdrawals per month stipulation.

Eric
Eric

I’ve seen a few people mention a referral program but haven’t seen anyone actually offer to refer someone. Does anyone have a referral to give? Do you get access to the 5% savings account right after activating the card or after the firstl ACH deposit?

Mr. PTM

Curious if anyone has tried to Bill Pay themselves, a SO, or their dog by adding a biller manually (which I was able to do). Per the TOC, there’s no fee for Bill Pay, so maybe another alternative if ACH-out to bank or CC isn’t working. I don’t yet have funds in the account, so can’t test myself.

Source: https://www.insightcards.com/wp-content/uploads/2015/07/republic_bank_terms_and_conditions.pdf

Eric
Eric

Has anyone received interest yet? I’m wondering if Chuck’s theory that interest received above the $5K deposited earns the 5% also.

Vadim
Vadim

I don’t see any reference to Savings in my online account. I think this feature is inactive for me for some reason. Can someone post screenshot of where in the menu Savings account should be?

Vadim
Vadim

Here is the screenshot. Nothing mentions Savings
http://pasteboard.co/kHfxd1W.png

Wyle
Wyle

For me, it looks the same as Chuck described, but before I elected to have the savings, I think the ‘open savings’ link was just above my name (as in behind the drop down menu in your screenshot). One thing – you do need more than a $10 balance (IIRC) on the prepaid card to get the savings account option. I had $25.

Erik
Erik

I just deposited $14 and the Savings link now shows up:
https://gyazo.com/f788fb8c60458c92b71e78ca2b0bb902

Erik
Erik

I got my card after applying over the phone. However, I am not able to get any money in to my account from my Credit Union. I tried:
1. Billpay to myself by ACH
2. Tried linking for ACH transfers with Trial deposits

However, both the Billpay and the Trial deposits were rejected because Insight claimed that my name does not show up on either. My Credit union states that this is wrong. They always send my name with Billpay and the Trial deposits…..

I had no problem linking the 5 Netspend cards via trial deposits.

Wyle
Wyle

Ally worked for me even though trial deposits weren’t pulled back.
Insight transaction shows them as “ALLY BANK, TRIALCREDT” with no name listed. Subsequent transfers are simply listed as “ALLY BANK, P2P”.

Erik
Erik

Insight told me the amount of the rejected trial deposits and I was then able to link and send money to the card using the credit union.
I also tried with another bank and those trial deposits worked. Curious to see if the trial withdrawals will also post.

Mark Zhang
Mark Zhang

What was the result? Did your CU allowed you to link? My CU actually terminated Insight because of the rejected trial credit. Based on my past experience, failures like this can be “dangerous”.

e
e

anyone have more that 1 card?

cav
cav

This account required the most difficult address verification questions I’ve ever seen. It seems pointless, because I had to google half of the answers and still passed.

Highlights included:
Which of these highways is closest to you? (the closest one on the list is 2 hours away, none of the nearby interstates were listed)
Which of these hospitals is closest to you? (only one on the list was from my state, and it’s a children’s hospital. No mention of the general hospital that I live near)

Ken
Ken

In Mint Insight brings up “Insight Visa Prepaid Debit Card”. Can anyone try adding their account through that option to confirm if it works or not? If I can’t monitor from Mint I’ll forget about it; I already have a ton of bank accounts as it is.

Cav
Cav

It’s working for me, shows the prepaid card txns and balance. Haven’t funded the savings account yet so can’t tell if that shows up in Mint as well.

Ken
Ken

Awesome, thanks for confirming.

EBF
EBF

I tried that, but Mint seems to be trying to login through insightcards.com. My login (finally) works at https://www.insightvisa.com and see my whopping $1.09. I can’t get it added to Mint, unfortunately.

Yuan
Yuan

Open an insight account early Apr, don’t received anything till now. customer service phone not working since i do not have card number, and email customer service do nothing but insist me to call.

Nit
Nit

Can you have multiple insight cards?

ERIC
ERIC

Brinks Dropping 5% savings to 1,000. over that it’s just .49%. Bummer Effective July 1, 2016

ERIC
ERIC

Ace, WU, Netspend and also dropping to 1,000

Wyle
John
John

Where did you find out this info. Can you give me a ref?

007
007

Can someone please post the Insight Savings Account Agreement (NOT the general Insight terms and conditions, which references this agreement)? Thank you!!!

John
John

how many of these accounts can you open per person?

Alex
Alex

How long does it take to get your card? It’s been about 2 weeks now and I’ve gotten nothing from them

Rebecca
Rebecca

I just got mine, and it took about two weeks. You should be getting it soon.

Steven
Steven

FYI. I was able to add the account to Ally. I received the trial credits and was able to verify the account.

Dave
Dave

I just received my card after about 2 weeks. Did anyone ever figure out if you can have more than one of these, and if so, how many? Thanks in advance!

Mark Zhang
Mark Zhang

DP report: Ally and Discover worked when linking verification was initiated from the two; Alliant had issues.

Actually, I experienced similar issues with both Ally and Alliant before, when I was dealing with NetSpend cards, once with each of the two. The shared syndrome was failure for Ally to pull back the trial deposits (from Brinks) and failure for Alliant to push its trial deposit into the card (Brinks). Ally usually has two pushes and one pull, while Alliant has one push and one pull. I saw one comment above saying the trial deposits were not pulled back; it could be a dangerous sign. Last time with Ally, I called several times, but ended up getting banned to ever link Brinks again. They told me that they do not allow linking prepaid cards, yet my other cards are successfully linked.

This time, Alliant successfully pulled but was not able to pushed the amount into Insight. Yesterday, I noticed this, and I called even though with the pulled amount, I was able to get Insight verified. The representative basically treated me as an idiot, and was a bit annoyed when I constantly asked her to confirmed that Alliant really had the account verified. She said “you can see for yourself it’s active”, so I initiated a transfer.

The transfer was successfully received by Insight this morning, but a couple of hours later, Alliant emailed me saying the verification failed and deleted the account. All this was super confusing.. I called again, and found out the reason was exactly that the trial credit, less than one dollar, was rejected by Insight. How could they reject dozens of cents and accept another large amount?!?!

Anyway, I msged Insight to inquire about this issue and am waiting for the reply. Luckily, I was not banned by Alliant for that, just as the Brinks case. I tried a second time to get Brinks linked with Alliant, and I think I would try again for Insight.

Rebecca
Rebecca

I have recently opened an Insight account and am trying to decide whether I should order convenience checks to use for easily unloading the money, if needed. I did notice that they have a limit of $2500 per convenience check.

Do you most recommend doing this, bill pay, ACH pull, or something else?

E
E

discover works for me

jz
jz

Can you pull $ out of Insight from Discover?

Hans
Hans

I was able to ACH pull $1 out of my insight account into Ally. Not sure if it makes a difference, but I had $0.50 left in the debit card account after the ACH pull.

Feo
Feo

I can’t add it to my paypal account to fund the Insight account. It gives me the “Sorry, we’re unable to link that bank because it is disabled. Please try another bank.” error

FB
FB

Insight mentions that PayPal won’t work; guess you missed it.
I linked Discover checking to it.

Ben
Ben

Does anyone have a phone number that doesn’t require entering your card number?

I signed up 4 weeks ago, received a welcome email, but never received my card.

Dan
Dan

I noticed that they left address line 2 off the address on the envelope. My mailman knows me so he knew which box it went in, but I can see it being a problem for others. Maybe that’s why you never received yours.

Sam
Sam

I just moved the funds to the savings today…After we transfer funds to savings and max out close to 5k, we let it sit for 3 months to generate interest and then load it to the card, correct?

John
John

Eric mentioned above that as of 7/1/16, Brinks, Ace, Western Union, and NetSpend have dropped the amount that they pay5% on to $1,000 rather than the customary $5000. Eric says anything over $1000 pays a mere 0.49%. Does anyone else know anything about this? Thanks all.

John
John

Found the article regarding dropping Savings account limits down from $5000 to $1000. Crap. All are ACH linked so I will empty out all funds. Does anyone know how to close out these accounts? Thanks

John
John

This applies to all NetSpend accounts, Brinks, Ace, and WU. APPARENTLY NOT MANGO AND INSIGHT. Does anyone know how to close out these accounts once balance is $0.00 in Savings as well as card?

Jeff
Jeff

I have tried several banks to link with account. But none of them succeeded credit insight account. I am tired to deal with this any more. Does anyone know how to close this insight account?

Nick
Nick

Has anyone tried to open a second account? Or even more?

My first has been up and running for a few months now, so hoping to go for two

Thanks

anthonyjh21
anthonyjh21

Seems like everyone is going to jump aboard the Insight gravy train now that Mango has neutered their 6% starting in September.

Christopher
Christopher

I only received 2% interest paid monthly on my 5k over the past 2 months. Will I be paid for the additional 3% on the quarter? I have my money in the savings and not on my card.

Thanks!

Ken
Ken

I thought interest was only paid quarterly for the Insight card. Is it supposed to be monthly? I received interest July 1st, but nothing for August 1st which is how I think it should be since it’s paid out quarterly.

Jordan
Jordan

Attempting to open this account for 5 days now and I was initially rejected whilst completing the on-line account application. One of the identity questionnaires referred to a street name I’d never lived at (vetting credit reports now to be safe) so, naturally, I failed it.

Called the number they provide on their “Contact Us” page and fought the call tree long enough to somehow get a live person. I explained to them that I’d been rejected and couldn’t create an account on-line. I was then assured I’d reached the correct department and was put on hold while the rep looked into my issue (no personal info given at this time).

2 mins later, he gets back on the phone and tells me point blank I won’t be able to make an account with them. I try to get clarification but keep getting brief No’s and Nope’s as he tries to push me off the line. I’ve struck out with the on-line application every time since.

Has anyone run into similar issues creating this account? I’m guessing this was a new call rep who didn’t realize immediately that Insight didn’t have an account to charge me from for their customer service and was prompted to drop me once that became clear. I don’t know if Insight thinks I’m an identity thief or if they don’t give a shit about random folks who can’t successfully coerce an account out of their impregnable web application.

Any help/advice is appreciated.

Matt
Matt

I had the same issue. The answer is to log in again but this time go through a VPN which shows you connecting from a different location. I used my work VPN……it allowed me to submit a new application and that time I got the answers correct.

Jordan
Jordan

Thanks for the response. I was actually using a VPN when I applied and cycled through a couple other VPNs I had available that same day without any luck.

Tried it yesterday on a whim with another completely new VPN after taking a 2day hiatus. Didn’t even bring me to the questionnaire portion. I was simply approved once I provided all my personal information. I’m a little weirded out but it worked so we’ll see. I’ll report back with further info once the card arrives.

Thanks again for the reply.

Jordan
Jordan

Latest DP. Got my card today. Tried to set it up online and found that I needed to activate it over the phone first. No biggie. Call to activate and was told by the automated voice that my card had been deactivated and to use my latest card. Hmm . . .

Call the recommended customer service number online. “No customer service available at this time.” Call the number to check funds and jump through those hoops. 30 mins on hold and I hang up. Call back later and after 45 mins on hold I talk to a live person. I’m flagged by another department and can never do business with Insight. They can’t tell me why and claim they don’t even know why which is possible. After dragging out the conversation I finally get a manager. So after a 45 min hold and 30 mins between the reg customer service agent and her supervisor, I hang up with no elaboration on why they can’t EVER do business with me.

I applied again today and got approved so when that card arrives I’ll jump through these hoops again I guess. I’m either getting the account or and answer why I can’t get the account. At some point, Northpointe will actually be less work to maintain than this but at the moment it’s personal so I’ll keep at it. More info to come.

Kevin
Kevin

Anything other come of this? Wife had the same issue on the first card but now can’t apply at all from the same “location” it seems. Going to try at work Tuesday…

FB
FB

Here is a better number, in case you have to call again: 855-355-8117

Jeff
Jeff

Yes, I couldn’t get out of the automated portion with the number on their contact page. This number reaches a human.

anthonyjh21
anthonyjh21

Google “check cashing” and find a location that carries them. Will take you probably 15 minutes tops. Best part is you’ll be able to load funds there and avoid the bank verification drama since you’ll already have a balance.

Niel
Niel

Tried to apply for one card on line. However, in the end I got the message: We are sorry but we are unable to issue you an Insight Card at this time. Please visit any of our partner locations to apply for your Insight Card. I guess I answered one of the questions wrong.

The questions asked is so difficult, such as the nearest highway of some road, which I have never heard of…

Fred
Fred

I got the same message and I know I answered all the questions right. Went to a partner location and took all of 10 minutes to sign up and get the card with no problems.

Setup online access and now trying to find an account that will link to Insight to transfer the $5,000 into savings.

Wong
Wong

When you went to a partner location, did you have to provide ID and your SSN?

Pete
Pete

Yes, my place asked for a DL and my SSN. Very easy, just go for the pay as you go for no monthly fees

What’s silly is even so, they mistyped my DOB from the DL and I had to call Insight to fix it. They asked me to fax in my DL as verification.

Diomaiuti
Diomaiuti

Ok, I’m having absolutely no luck opening a 2nd account online. Where did you go to open one in person? My local Rite Aid is listed as a partner, but when I looked at prepaid cards on the rack there, I couldn’t find one that mentioned “Insight,” and I’m afraid I’ll end up with some other, useless, acct.

Please help!

Sam
Sam

I received quarterly interest today. I was shy of 5k, so received around $54 (instead of $60).

Now,
1. I should transfer all 5k into the prepaid card.
2. Go to walmart and get MOs if i want to.
3. Add new money into the card from the bank

Or
4. Just move $54 from Savings to the card and leave the <= 5k in the savings for the next 3 months. Add $1 into insight card from my regular bank to avoid fee. I don't mind leaving 5k with them.

Where am I wrong here?

Erik
Erik

Not sure if I understand your question..

You don’t need to do anything. You can leave the money in your Savings account. You will get 5% APY posted quarterly on the full amount (even if more than $5K).

You just need to have some activity at least once every quarter to avoid fees (e.g. ACH in/out)

Sam
Sam

I thought max load in savings account is 5k. I had ~$5055. So I transferred $60 to the card keeping the SA total to <5k. I guess I can leave it this way until I decide to withdraw the money, correct?

Erik
Erik

Correct. Max load is $5K. However, interest may accumulate so that total is more than $5K. You get interest on the full amount.

e
e

so that is confirmed now? good info. i will now stop pulling out the int. thanks

Quin
Quin

Just opened the Insight Account. Can anyone verify if the 5% on 5000.00 in the savings account is still paying interest?

Ken
Ken

I just got my interest Oct 1st.

Dan
Dan

Didn’t get interest yet, I opened my account 07/05/2016. When should I be expecting something?

Thanks

-D

Miz
Miz

Among US Bank, TD, and Schwab, which one allows automatic $1 ACH push?
I tried UFB and Discover but minimum amount for ACH push is $10 for UFB and $25 for Discover.

Dana Smith
Dana Smith

I was just able to move $2000 from Savings to the card at one time. Is the $1500 every 24 hours no longer correct?

I would try to move the other $3K but now I’m worried I might be charged a fee or something.

Harry
Harry

I got hit with a Fee today – ACH Returned Debit Fee $-5.00 for whatever reason. I have emailed them about it. The only ACH I had attempted was a pull from my bank several days back which did not work – hopefully that does not cause $5 fee.

Harry
Harry

Never mind, I think I figured it out. I did try ACH pull from my bank thinking it was coming out of the savings. Apparently it tried to pull out of the card balance which was not sufficient and hence it failed. I know this is up there in what the doc has posted and I may not have read it well, but just to be doubly aware: If you are doing a ACH pull it is coming out of the card balance and there is no automatic transfer from savings to cover for insufficient funds. So it will be returned and $5 fee added to your card. Live and learn.

Arthur
Arthur

What counts as Direct Deposit (received a targeted mailer)?

Cosmic
Cosmic

What was the amounts on your mailer? I received one too but I lost it. Was it $20 for a DD of $200?

Erik
Erik

I also received a mailer and did a $200 DD by ACH. However, they didn’t give me the $20 because they said that I already had a DD.
— I have monthly incoming $0.10 ACH (to avoid the inactivity fee).
I asked why they then sent me the mailer with the offer if they were not going to honor it… After some arguing, they finally gave me the $20 “as a courtesy”

Naomi
Naomi

How long before you received $20? Can I do an ACH pull of $200 immediately and still get it? (I threw out the mailer and forgot to check the fine print)

Erik
Erik

As I said above, I didn’t receive the $20 “automatically”. You are supposed to get it the following BSN day.
I called in and complained, and got it the next day.
I believe that you can do an ACH out w/o problems (I did – nothing in the “fine print” about it).

Tomtoo
Tomtoo

My wife and I have done actual payroll DD’s, and NONE of the accounts were credited the next day as they say they will. It has been well over a week since the DD’s were received (one almost a month).

Called them today, on hold for 47 minutes, they said I had earned it and that it usually takes 7-10 business days to get it. I asked why the card said “next business day”. CSR just repeated the same thing, and said I will now be getting it in another 7-10 business days.

My wife also called today, on hold 1HOUR 12 min, that CSR said that they would escalate it to a manager, and they would call her back. She won’t be holding her breath, especially if they are anything like the Netspends. BTW, I called them back about another account tonight at 9:48 est and got right through, go figure.

If you have to call about getting your $20, remember to ask them to credit you the $1.00 “Call Center Customer Service Fee”. It gets tacked on the account as soon as a live CSR answers the phone. (I refreshed my account activity page when they answered and it was already there). Any time you talk to them about something that can’t be handled through the automated system, you get credited but have to ask for it.

Although this is a nice bonus, I probably won’t bother with something like this again. We’ve gotten screwed over by some of the Netspends and so called bonuses that never got paid. Hopefully, Insight will fulfill their obligation, and even if they do eventually pay, it was hardly worth the hassle.

Tomtoo
Tomtoo

Got the $20 for one ot the accounts today, the one that they said would take another 7-10 days to process after my call yesterday. It took barely one day to get credited to the account. Again, go figure! We’ll see how our others do.

Eric
Eric

Did you leave the $200 on the Insight card until the bonus posted or did you transfer it back out? What did you use for your DD?

astoria26
astoria26

Did your direct deposit show up as “P2P” or “Ext Trsnfer”?

Tomtoo
Tomtoo

Sorry, I’m still not getting notified when someone leaves a comment. My wife and I have 4 accounts between us. Her employer will change DD’s quickly so for her 2 accounts she did one payroll DD to each. To avoid confusion, the account I mentioned above that got paid was actually her’s. Her other one got paid today. I was wondering if she would get paid for BOTH accounts. Well, we did get 4 separate promo postcards, but you never know with these places. She did transfer the DD amounts back out before the $20 bonuses were paid.

Unfortunately, Insight rejected my wife’s DD’s into my accounts, so I have done ACH’s over $200 each from Chase and CapOne360 into each account to be safe and am waiting. I am planing to leave the deposits in until the bonuses are (hopefully) paid. We have had to call on all 4 accounts since none of them were paid the bonus when they were supposed to be paid. Here is a copy-paste of how our ACH’s showed:

Wife: [employer name], SALARY

Me: JPMORGAN CHASE, EXT TRNSFR
CAPITAL ONE N.A., CAPITALONE

Good luck!

Tomtoo
Tomtoo

After waiting over a week to be supposedly called back by a “manager in 3 to 5 days” with my “escalated situation” and of course never getting called back, I called them about my two accounts (separately). The first one the CSR said he would email the fact that I was qualified to the proper dept, and if my $20 credit didn’t show up within 24 hours, to call back. It actually happened, but not all was well. Even though the CSR said he would credit the $1.00 “Call Center Customer Service Fee”, he didn’t. I called back today to get that taken care of.

When calling in about the other account, I got the same old “will escalate to a manager…again” business, so here we go again. We’re almost there, we’ve got 3 out of the 4.

Tomtoo
Tomtoo

Finally got the last $20 bonus load. It has been many weeks with weekly phone calls, with no promised return calls coming from Insight. Certainly not worth the hassle.

One thing I will give them credit for: from the sound of the different CSR’s, I think the call center is U.S. based, or at least they have trained their people to speak very well, and they seem more knowledgeable than their competition’s (Netspend) CSR’s I have dealt with.

Ruby

So my husband got his card but insight blocked his discover bank. He emailed them and apparently they don’t allow transfers from other banks.

I have my own card and I have transferred from Discover myself so don’t know if it’s a new thing or not.

I will try an ach from our credit union to see if it works but if it doesn’t then it’s bad news that we can’t ach in and out anymore

Any thoughts?

Dave
Dave

Discover & Alliant have both worked to push funds to Insight.
I have not tried any others tho.

Ruby

Thing is, apparently they blocked Discover (at least in our new account)

If there are any additional data points of Discover being blocked let us know!

brainwash

ACH push/pull definitely working with Ally.
Has anyone linked an Insight card/savings with Personal Capital?

Kudy

I opened this card, and have successfully set up ACH push with Ally, but I am unable to login to the Insight online account, because I never receive their confirmation email. Has anyone else had this issue? Thanks!

Erik
Erik

@Kudy,
Yes, you need to use a common E-mail provider (e.g. gmail). You need to call CS to have them change the E-mail since you cannot login yourself to change it. You can switch back to your preferred E-mail address after receiving the confirmation and logging in.

Tomtoo
Tomtoo

Remember to ask them to credit you the $1.00 “Call Center Customer Service Fee”

Kudy

Thanks for the info! The weirdest thing happened – I waited on hold, talked to the rep, and she said that my account is closed, can’t be re-opened, and she can’t give me any more information. She did allow me to change the email address. Is it possible I am on some sort of blacklist or something? Baffling.

Kevin
Kevin

Anyone have issues opening another account at the same address? I opened a card for my wife but they wouldn’t let me activate it – immediately upon receiving it, it was closed for the standard BS “security reasons” with no recourse (of course).

Tried applying again and got the “We are sorry but we are unable to issue you an Insight Card at this time.” message…

Tomtoo
Tomtoo

When my wife tried to open an account with our same address, we made sure we waited until my card had arrived on my account, and I had activated and funded it and the savings account online. THEN she applied for her card and it worked. If you didn’t do that, you might want to try it that way.

Ruby

That’s what we did too and it worked.

David M
David M

Is it confirmed that this account earns 5% over 5k?

William Charles

No it doesn’t earn 5% on balances over $5k.

Erik
Erik

It earns interest on the full balance of the account. You can only move max $5K to Savings. But any interest left in the account will also earn interest.

For example, if you deposited $5K and have earned $250 in interest that you left there, then the interest will be based on $5,250 for the following quarter..

Phong Chau

So i’m basically screwed? My lame TD bank placed a hold on my account on a $2,000 transfer. I thought that it was canceled so I submitted another $2,000 transfer. Then I moved $2,400 from another bank thinking that I was only at 4,400 instead of $6,400. What do I do now? None of my transfers have shown up yet.

Jeff
Jeff

Only the first two transfers that will clear will post to your account, and the third shouldn’t clear.

tony
tony

Pulled $5k from to saving to checking, and checking to discover in one day. All succeeded with no errors or warnings. Seems the $1500 a day rule no longer applies.

Merm
Merm

Has anyone had experience doing an ACH push and pull with Fidelity? Also instead of depositing, one of the methods under loading the card in the terms in conditions is transferring from savings into checking. Would it be possible to avoid the inactivity fee by transferring $1 from savings into checking?

https://www.insightcards.com/wp-content/uploads/2015/07/axiom_bank_terms_and_conditons.pdf

Le
Le

So when I added this using the routing and account number (checking) to capital one 360 as an external account, they did the usual 2 deposits to verify the account. Only problem is, they didn’t do the 1 withdraw of the 2 deposits…is this normal? It’s been 2 weeks and the deposits are still there.

Nick
Nick

If CapOne shows it being confirmed and linked, I wouldn’t worry about it. I’ve linked a few accounts with Insight, and have experienced two missing transactions myself from trial deps/withdrawals.

Much like Netspend and Mango, I look at it as small roadbumps and things we’re willing to put up with for the high interest rates…

Le
Le

I didn’t give it much thought until my journey cc was restricted due to a fraud alert even though I authorized it in the email they sent when the purchase was going through. The restriction was tripped a few days after the purchase posted and the payment I made to the cc from Insight posted.

CapOne CS said they needed to verify the Insight account (Axiom Bank) before the restriction can be lifted. Not sure why they needed to verify it again since I already did with the trial deposits. Well, when the CS called Axiom Bank, they were told that Axiom wouldn’t do 3rd party verifications over the phone so the CS had me fax them a copy of Axiom Bank’s statements. The two events may have been completely unrelated, but that’s what my first thought was.

Tomtoo
Tomtoo

I had the same experience when CO360 did the test deposits into Citibank. They never withdrew them.

the Financial Hippie

Once the Insight card was opened, I transferred $25 from my Santander checking account to the Insight card. I had to fill out Routing Number, Account Number, Name. No trial deposits were sent or received, and the $25 showed up in my Insight card next business day. Promptly moved it into the savings, and will continue this same pattern!

Robert
Robert

How will you withdraw the funds?

Kevin
Kevin

Anyone know if the $1500 withdrawal limit still applies? I’ve been limiting myself to just putting in $1500 into this account, but thinking I might go for the full $5k if the limit no longer applies. Biggest fear is needing the money for some reason, then finding myself stuck and unable to pull the money out quickly.

Tomtoo
Tomtoo

I can confirm Insight paid 5% (APR) interest on my full balance of $5045.24, not $5000.00. Of course the extra $45.24 was previously accumulated interest, otherwise they would not have paid interest on the $45.24.

Rachael
Rachael

What was the interest amount that was posted? I had a balance of $5,054.97 as of 10/1/16 (after Insight posted $54.97 interest for the 3rd quarter), and only received $62.39 in interest on 01/01/17. I haven’t touched the money in my savings account since depositing the initial $5,000 in July 2016.

Dan
Dan

If you do the math, you got interest on your full amount plus compounding.. interest rate is 4.88% .. divide that by 4 (quarterly) comes out to about 1.2% per quarter. That would be $61.67 on your full balance.. but you got extra because the daily compounding.

Tomtoo
Tomtoo

Rachael,

Interest posted was $62.31.

Insight pays 4.88%÷4=1.22% in a quarter (becoming 5% APR at the end of the year). If they had only paid me on the $5000, I would have only earned $61.00 plus around .06 on the $45.24 above $5000 (.50%÷4) for a total of $61.06. They paid me more than that. But what they did pay me has me confused, because on my balance, 1.22% of $5045.24 should be $61.55. They paid me .76 more.

In your case using the above (amateur) math, you should have gotten paid $61.67 for the quarter. They paid you .72 more. I am obviously missing some detail, and most likely some math pro can take me to task and point it out. But it sure appears to me we at least got paid 5% APR on our total balance, plus some mysterious extra.

Eric
Eric

I think the reason it’s higher is because there were 92 days in the last quarter. 92 days is slightly more than 1/4 of the year.

Rachael
Rachael

Thank you for taking the time to run through the calculations. 🙂

Dan
Dan

It’s because it compounds daily so you got extra on the accrued compounded interest that was happening in the background.

Gadget
Gadget

Yesterday I noticed $20 in my card account (not savings), and the transaction details said “Retail Load”. That got me worried, because my card never leaves the house, so how would I do a retail load? After verifying the card was still in the “sock drawer, I contacted Insight via SM to see what was going on. Their response: “After reviewing your account, I would like to advise you the $20.00 is a incentive we provide you for reinstating your direct deposit with us.”

I had just deposited $1500 from my CU, and the incentive showed up the next day. Unfortunately, I can’t tell you the amount required to get the incentive, dates of the promotion, or how long it is required to remove your “DD” and then reinstate it. I had a $100 ACH from the same bank last month that didn’t trigger it, but before that, my last big ACH ($1900) was late September. I am too lazy to call and find out more details, but the free money is nice.

Mr. PTM

Thanks for this DP. This just happened to me and I was weirded out. Huzzah free money!

Sam
Sam

How much did you happen to push? Would be nice to know what the “incentive” minimum is.

Mr. PTM

$375 from Ally. Hadn’t had a transaction in almost 3 months.

Sam
Sam

Me too! Phew! I had to pull out my $5000 from savings last week to complete the $20k Discover AAA savings deal. I just pushed it back this week (from Alliant CU). Guess I got lucky. Wonder if it’s worth pushing something onto my other Insight card!

Larry
Larry

Are we supposed to receive a 1099-INT form on the interest received on the savings account?

007
007

Would also like to know this. I just received my 5 NetSpend-type card 1099-INT’s today, so starting to get a bit ansy for the insight card one. Worst case, can just include it on 1040 without an official 1099-INT, but would prefer to receive one from Insight Card.

007
007

Oops… my bad. I double checked, and as I only fully funded my account in the later part of the fall, I am actually technically not due for a 1099 this year.

Chris
Chris

I received a 1099-INT from Insight (Axiom Bank). But, none from netSpend yet.

Nick
Nick

Yea I’ve received the 1099 from Axiom Bank

Larry
Larry

Hmmm, haven’t received a 1099 from Insight or Netspend…

Larry
Larry

Contacted Netspend by e-mail and they are going to e-mail me a copy of the 1099-INT.

William Charles

Yes, they are still sending them out I imagine.

Z
Z

Someone asked this before, but no reply. Can you have multiple cards on the same name and address?

Gadget
Gadget

I have two – same name, SSN, & address. Ordered them about 3 months apart…. but, not sure if that matters.

Tomtoo
Tomtoo

My wife and I each have 2 cards. Before applying for each card, we waited until a previous card was received, activated, and the savings account had been opened. Then one of us would apply for another card. The website stopped us after 2 cards each, meaning after hitting the apply button it wouldn’t go further.

Ken
Ken

Hmm, I thought you could only have one Insight card per person. This would be great for another $20/month in interest.

E
E

just tried for 2nd card, No Go. After filling out app it said sorry not available.

Tomtoo
Tomtoo

Sorry to hear that. We opened our 2 each during June-July 2016. Maybe they changed their policy since then like Mango, or maybe we just got lucky. It’s worth a try, and at least you did try.

Ken
Ken

I just tried for #2 for my wife and it went through and said she’d receive her card in about a week. Fingers crossed this will work. If it does that’s another ~$21/month in interest.

007
007

Just tried and application worked for me. I used my Google Voice # instead of my real mobile number (used mobile number under home) in case that matters.

E
E

ken did you use all the same info? address, ss#, etc? Wondering what i can do to make 2nd card go thru? i did try a different browser but that didn’t seem to matter.

E
E

So i just tried again and it went thru. Maybe i answered one of the test questions wrong? i did use a different email and the 1st time did not add my cell. this time i did. that could have been the difference as well?

Tomtoo
Tomtoo

Wife and I put exact same information in all 4 applications (except the obvious personal identifying info), including same phone number and email for all 4. So I don’t think changing any of that information helps anything, but who knows.

Tyler
Tyler

How are you guys avoiding the inactivity fee once your balance gets over $5000? You can’t submit any more deposits after you reach $5000 correct?

Gadget
Gadget

Pull some money out? Spend some of your riches? I think it will take more than 5K… you just won’t get paid the big bucks!

Phong Chau

Anyone know why I can’t transfer money into my account? I went Keybank to HSBC. I got a 500 amount to go through but my attempts at $2000 transfers keep getting sent back to Keybank. Should I try to use another bank account? Please help!

Financial Panther
Financial Panther

I just went and ordered a second card as well and it looks like it went through. Will have to see if it actually shows up. I used the exact same information as for my first card (same address, same phone number, etc).

Anyone have any concerns that your account could be closed if they notice you have two accounts? I’d obviously rather stay under the radar.

Ben
Ben
There is a report somewhere in this thread of someone getting a second account. I signed up for a second card late Jan ’17 using same address, same phone #, but different email. It looked good to go/I got an email saying my card is on its way (that was Jan 24th) However, no card has arrived and it’s after the 7-10 business days that Insight said it would take to get my new card (at the end of the application process). So I called today about the “new” card. First off, it takes awhile to get a human on the phone and they seem to not be very nice/helpful. Anyway, she saw that another card was sent out. But she claims that it is “linked to the same social security # and therefore it is linked to the same (original) account”. Via lots of back and forth she eventually put me on hold and came back to tell me it’s only possible to have 1 card per SS#, and that what would have happened is that once I activated the new card it would have “closed” the original card. I don’t completely believe her because I got the impression she really wanted to get me off the phone (I was super polite the whole time btw; she however was not). Here’s what I think happened. Bit of backstory first. When I got my first/original Insight card they somehow did not put the apartment # on the shipping address and hence I never got the first/original card. After 3-4 weeks I was finally able to get them to send me a new card after they added my apartment # to the address. Your first thought might be that it was my fault and I somehow left off my own apartment #. I seriously doubt that, but can’t definitively rule that out. Fast forward to applying for a second card Jan 24th. I absolutely added my apartment #, but I added it in the box that asks for an apt # (just like I very likely did with the first/original card). I believe that is where I/them are going wrong. I’ve seen this happen with other banks (I went through the same thing with Quorum FCU just this past month) where somehow the shipping address drops the apartment # that was added during the application. So to sum up, I actually… Read more »
Eric
Eric

I also have 2 cards. I used the same phone # but different email addresses for them. I waited 2-3 months between applications but am not sure if that mattered. When I tried to apply for a 3rd card the system wouldn’t allow it.

Jessica
Jessica

2 cards opened since June 2016. Applied 3 months apart. Both still active and getting interest. I tried a 3rd card and was denied so moving to my S.O. 😉

Gadget
Gadget

If they closed the 2nd account, the only upsetting thing would be the loss of interest while, what I assume would be, a check that gets mailed out and clears into another account. It’s not like “we”, the savers, are using the account for bills and paying merchants.

Erik
Erik

I have had two cards for several months. Customer service is aware of this as they have referred to my “other card” when I called about an issue (I never received a $20 credit for a $200 DD promo – that issue was resolved).

At one time, I had also talked to a retail location where one may apply for Insight cards. The clerk told me that I can have max two cards.

I applied online for both cards (I had some initial issues and had to apply twice for one of the cards). I do not know if it matters or not, but I used the same address but different phone & E-mail for the two cards.

Financial Panther

Have you had any trouble funding the savings account of both cards? Being able to put away potentially $20k (two people in my household, plus two of these accounts for each of us) would be pretty nice.

Eric
Eric

I had no trouble funding both cards.

Erik
Erik

No problem funding both cards (we also have 4 cards together). Don’t take out the interest as you will receive interest on interest money accumulating above $5K.

lingua
lingua

you all applying for a second card as a new user or when you’re logged in?

Thanks..

Ken
Ken

New user with new login.

Gadget
Gadget

I never heard of this $20 credit for $200 DD promo… but I guess that is what is hitting my accounts now. I got the bonus as a surprise on the 1st account, and just got it on my 2nd account. I just wish they would have labeled it as a bonus, and not a retail load. I was thinking someone had used my info to add money… maybe as a test before starting to unload the account. Anyway, easy 20 bucks!

I haven’t had any issue loading or unloading via ACH from Discover and my local credit union.

Tomtoo
Tomtoo

Consider yourself lucky, my wife and I had to fight for two months to get our $20 bonuses.

L T
L T

Thanks to all that mentioned a 2nd card is possible! Just applied and approved for the 2nd one after getting the first one last year

Financial Panther

So just activated the 2nd card. It looks like the first card is held with Axiom Bank and the second card is held with Citizens Bank and Trust of Chicago. Just thought it was an interesting datapoint.

Ken
Ken

Got my wife’s 2nd card today and it’s also Chicago Bank. Other cards are Axiom too.

007
007

Same for me. Anyone run into weird problems when enrolling in 2nd savings account and transferring funds to savings account? Looks like something in the interface went haywire – no more “Savings” top link bar option, card balance shows $0 (but two accounts listed and one still shows $10.38 but the OTHER is listed as savings), there are no alerts AT ALL in the alerts menu (even though I have some set up and the same menu has tons on Insight account #1)

e
e

got 2nd card in mail yesterday (republic bank of chicago). DENIED when trying to activate by phone, then again when i tried online. Called CS and was told “internal decision” to close account.

Closed before i could even register the card? have no idea why.

Erik
Erik

The Insight bank is random and the two banks have slightly different features (I forgot the difference now).

I feel your pain with this ‘internal decision’ thing, especially when they can’t give any explanation!
We have a problem with a big bank that closed our deposit and credit card accounts w/o explanation 9 years ago.
We can still not open any accounts with them. We have always had excellent credit scores (>800) and clean ChexSystems reports.

Rohan
Rohan

Has anyone tried ach transfer from chase to add funds into insight card?

Larry
Larry

Yes, that’s how I ACH transfer into Insight each quarter to avoid the activity fee. Also ACH transfer into Chase with no problems.

Drew
Drew

In the process of setting up ACH from Chase right now using trial deposits.

Rohan
Rohan

Thanks, did you have to verify your insight card from chase by trial deposits? I am still waiting for trial deposits to appear in my insight card account.

Larry
Larry

Yes, I remember that it took about three days for the test deposits to show up in Insight.

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