Posted by William Charles on July 1, 2018
Prepaid Cards With High APY's

Published on July 1st, 2018 | by William Charles


Insight Is Only Closing 5% APY Accounts Opened Online

Insight offers a savings account that earns 5% APY on balances up to $5,000. We’ve previously reported that all of these accounts were set to be shut down on July 1st, 2018 (today). It looks like that isn’t accurate as only savings accounts that were opened online have been shut down and those with accounts opened via phone or in person have been kept open. Reader dubs3011 called in and asked what was going on, got escalated to a supervisor and confirmed that this was the case. It’s possible that these accounts will be shut down at a later time, but for now it seems like they will be safe. Unfortunately it doesn’t look like you can just open a new account via phone or in person as they aren’t allowing any new accounts to be opened.

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What a mess. I can’t log in to either of my accounts.

If you call in they’ll unlock it

Which is the point I guess? Make it harder for people to get their money and get a few days/weeks — depending on how much the individual hates cavemen “customer service”.

“Cavemen customer service”, wha? Unless you just can’t stand talking on the phone at all, I don’t think Insight’s phone reps are that bad. The one time I spoke with them, I called the free number, had no hold time, and spoke to a friendly US rep who did what I needed and was off the phone in like 5 minutes.

Yeah. I am referring to the fact that they make you call for a task that is easier and better done by a machine than a human. IMO making people call in 2018 is ridiculous — doing it for ridiculous tasks even more so.

Also bet you hate having to walk outside the door for anything that can be brought to your doorstep?
But hey, I got another flashy metal card!!!

Thanks. I got back in, but unfortunately the savings account on both of my accounts received the axe. Silver linings – HSBC offer (if you can call having a go w/ HSBC a silver lining) just opened up and requires the same $10k deposit I had w/ Insight. Hopefully my money won’t be taking a break for long.

If you call they charge you a fee. I was locked out of my account as well and it is indeed a mess.

There is no fee if you call one of the two free phone numbers. They’ve been posted many times in the comments, and are at the top of the post at

Hi, are you able to log into It won’t load for me, are we supposed to sign up again through All of our accounts even with the same email, did you do it? Dis you encounter any bug?

Just signed up for insight cards and the setup sucks, it just shows my main account balance and no option about anything not even the savings with 5k on it nothing, just did with one account cuz the login is with email and I have the same email on my 3 accounts so no idea how will that work lol

Nvm I was overreacting the website is back online, maybe they were having an update or something and since they dont care no more about costumers they dont even let us know like any other bank would.

Yeah, awfully convenient that accounts are suddenly locked when people are to withdraw their funds.

Logged in two days ago without issues. Today my account is locked out of the blue for ‘security reasons’. One old, emtpy account still works — *surprise*.

I am locked out as well. Be advised that the customer service number 1-888-572-8472 listed on the website is for the automated system only with no option to speak to a representative. In order to speak to a representative to have your account unlocked you need to call 1-888-796-1516.

I called the 855 number posted in the other thread, and was on hold for five minutes. The CSR asked if there were any other accounts that needed to be unlocked; I only had one since I was never able to sign up for another one and was too lazy to go to the bad side of town to look for check cashing joints. I need this cash for bank bonus fulfillments anyway.

I opened both my accounts over the phone and one has been shutdown and the other still has an active savings account.

Yeah, this is definitely not universally true. They did send savings shutdown notifications to some in-person and phone accounts.

Unfortunately, he was the only one who commented on this so have to take it in context.

I doubt he was making it up, if that’s what you’re implying? Pctek also reporting a phone account closure corroborates it. It is starting to look like they went after what they could identify as duplicate in-person/phone accounts, but in at least some cases, spared a single in-person/phone account per person.

No, just wondering how many based their decision to close their accounts just because of that one comment when so many others never received the letter or corroborated it.

We’ll have to wait and see what is correct and I still think they will be closing all of the savings accounts but we probably have at least a month of interest to collect (and hopefully another quarter since they only pay out by quarter).

Even if they only normally payout quarterly, they would still owe you the interest from whatever date they called your account closed. Hopefully we get a heads up to that fact, and an exact date, as nobody wants to wait two weeks for a check.

Personally, I think they figured out the program is unsustainable, and weeding us out. All will eventually fall. I imagine a decent percentage of people are going to get a check and not cash it right away, or maybe even forget about it. Insight will have unclaimed funds in their possession for awhile, before they have to turn it over to state run agencies.


I never received a shutdown notification. I logged in today and the savings accounts are still open (both opened over a year ago at the same time and place). It now looks as though the trouble I had opening the accounts online that required me to go to a partner location worked out better.

Lucky guy. 😉 What brand of store did you get yours at?

They’re fairly easy to locate if you use the tools sitting right in front of you.

I’m keeping this information quiet at this point. If there is going to be a final nail in the coffin, it will be spoon feeding people so they can rush to the stores and kill the product altogether.

CA Budget Finance. Well, I didn’t feel very lucky when I had to spend so much effort trying to open the accounts online, emailing and calling. Glad it’s worked out so far.

I had opened a card over phone last month just before the announcement, and never bothered to get the savings account. Just logged in and saw the option ‘enroll for savings’. Transferring money in now, and so glad I didn’t close it.

jpaglier had speculated this when the news broke (

Interesting to see that he was correct. I think it’s a pretty smart move to target the people who just opened this for the savings from their target demographic.

This probably gets rid of 99.9% of people like us — who use this just for savings without waking up the people who pay for the interest we collect.

Cool, thanks for the shoutout.

A couple of DPs:

1) I never did receive a letter, snail mail or otherwise, about the card I opened in-branch

2) My 2 online accounts got locked down, my in-person one did not. It also still shows the savings account as active as of ~7PM EST.

Speculation within my circle (and I’ve seen it mirrored around here) is that they may still manually close these accounts over the next couple of days. They’d be pretty easy to identify outliers, given that most partners are check-cashing places for the unbanked. Very few legit users have $5k balances and most actually use the card, rather than periodic $1 deposits.

My plan is to go talk to the employees at my local check cashing place to see if they know anything. They were pushing the savings on people pretty hard, so I suspect they’ve gotten some instruction on whether or not it’s sticking around.

I had 2 online accounts (closed) and two in person at a check cashing place (still open). I got two e-mails stating this event was happening, which now I know correlates ONLY to the two online accounts. I think they will have to give notice before just shutting down the in-store accounts – not just wait a couple days. Ultimately, they are probably trying to do the right thing and due diligence in the shutdowns.

If what was said is true and they aren’t allowing new accounts, I wouldn’t count on getting any viable information from the “in-branch” counter rep.

1. No company stops creating new accounts that plans to move forward.
2. Dealers of 3rd party products don’t always have the inside scoop. I wouldn’t go to Walmart to ask about Sony’s plans, and sometimes don’t have the story right on in-house products.

We will certainly see how it pans out and I am sure it will make headlines on here and Reddit churning. The company hasn’t turned off the lights and boarded up the windows so I am not too worried… yet. And if there is a work-around, cheat, or crack to get more 5% savings accounts, pretty sure it will be announced by some of the DoC fans.

The thing that keeps me hopeful is I’ve received at least two surveys from them in the last month or so. I think they will rebrand and change the offering, probably removing the savings account from the remaining cards. The timeline on that is obviously fuzzy, though.

I opened two accounts at a payday loan store and was talked into a loan, though I canceled within 24 hours – owed nothing and kept the $25 bonus for taking out the loan. So maybe that kind of fits the profile?

I don’t think Insight would know about the loan, FWIW.

Yes, probably just the venue.

Opened four online (two player mode) and all of them won’t let me log in. The three that were opened at a local check cashing place are all still allowing me access to my accounts.

It makes sense if you read the email carefully it said “online”. If someone got the email but was an in-person or phone open, could they post their language?

“Dear Valued Customer,

Effective July 1, 2018, the Insight Savings account offered to online Insight Card customers will be discontinued.

This letter is to notify you that the Insight Savings account associated with your Insight Visa Prepaid Card you acquired online will close on July 1, 2018. Interest due as of July 1, 2018 will be credited, and the balance will be automatically transferred to your Insight Visa Prepaid Card account and subject to the prepaid card’s terms and conditions.”

Good point, missed that completely. Will be interesting to see how it reads with anyone who received a letter that did open in person or by phone.

Thanks for pointing this out.

I went to log in both of my accounts, they were disabled. Called 888-796-1516 to enable them. Took 2 min (including being on hold). Verified all money was on card already and not in savings, then went to my Ally bank account, cancelled the recurring transactions I had set up and initiated a pull from both Insight accounts back to Ally.

Same here. My phone call had zero hold time and the guy unlocked the card immediately after I verified. I can’t complain one bit about their customer service – makes good business sense for them to do this, so I can’t really complain about that either.

Will pull from my Schwab account and move on.

Update: Ally has already successfully pulled all the money out of my 2 Insight accounts. Balance is $0 on both. ACH pulls out of Insight accounts from external source is no problem still.

DPs on my 2 accounts.

I received 1 email notification about the July 1 savings closure.

Account #1 was opened online. I was able to login and transfer my entire savings balance to the card this morning, $5061.20. It looked like the savings account still existed. Later today, I was unable to login and had to call the fee-free number at 888-796-1516 to unlock the account. The rep asked for my card number to locate my account, then later asked for the 3 digit code and expiration date. I received a text saying my card was activated. It had previously been activated already. The savings account is now missing from this account. I guess the closure of savings accounts happened sometime in the middle of the day.

Account #2 was opened on the phone. I was able to login this morning, but only able to transfer $5000 to the card balance today due to a daily limit on these transfers. I still have a savings account and I was never locked out.

The account I opened online is still accessible. I only see the primary card, the savings is no longer there and all money has been transferred from savings to primary card. I guess I can still ACH pull that money into another bank account? Or is that no longer possible and I will have to wait for their check?

The two accounts I opened over phone seem perfectly intact. Both of them still show savings accounts aside from the primary cards. Does that mean these accounts will continue to earn interest? Or are these savings accounts dead although I am able to see them?

I received only one account closure email a month back, I am guessing it was for my online opened account and not the phone accounts.

I think you can still ACH pull that money, since you’re able to log in to see the total and verify it’s on the card right now. The sooner the better, before they try to generate the check. If a check somehow ends up arriving anyway after you’ve ACHed everything, just shred it.

i cant loigin into my 3 of 4 accounts. luckily i made my transfers before july 1st but im curious tro see how i can login to my 3 of 4 accoutns because the interest has posted i want my money

Call (855) 355-8117 or (888) 796-1516 talk to real human to unlock your account.

my access disappeared in the afternoon but came back on , this evening. I never called cs came back on its own. i had already set up the account to transfer funds on 7/1 which shows as processed

+1. Same here. For Insight accounts opened online, they are accessible again. Guessing they just wanted to lock us out for 24 hours while they printed the checks… what a crappy way to do business. And I am sure they are tired of the phone calls.

Savings account (RIP) is no longer shown, other than being able to access statements.

I notice the accounts opened over phone still have the savings feature. I wonder if we can still get the savings account if we open new Insight cards over phone or at check cashing centers.

In-person opened card accounts are still showing the Savings too.

Per DoC, no new savings accounts.

But I am sure it will be well-known soon, as most of the community around here probably did online, and will leave the house or pick up a phone to ask that same question. Hopefully the majority come back with the same answer, and specify the 5% SAVINGS account in thier question. Because it appears the DEBIT accounts did not get affected.

For me personally, I am transferring money back into my Insight savings until they give us the one month notice on the in-person/phone accounts. We were given exactly one month notice on the online accounts, so I would expect the same for the others. Fingers crossed.

I haven’t called yet, but also can confirm that my two online opened accounts are closed, and my two I opened at the local checking cashing shop are still open. My guess is that Insight will close all of them next quarter. Maybe they knew it would be a mass exodus and need to keep some capital on hand? But who knows, maybe they figured out overall the locally opened accounts were more profitable and going to keep the program alive in a smaller scale? Doubtful, if they stopped opening new accounts. They just didn’t want a complete run on the holding bank all at once.

Bottom-line, it would have been nice if Insight informed us that locally created accounts were safe. Now, the majority of my Insight money is in motion in ACH, and takes awhile to clear. Esp. if I end up sending it right back.

Can report I’m seeing the same. Reading about all the lock-out issues, I just waited it out. Just tried logging in to my family members’ accounts that I manage. No issues logging in to any of them.

Sure enough, those opened online show the savings as closed, while the dozen or so accounts opened later, in person and via phone, appear to still show savings as open — including the 7/1 interest deposited.

Reckon it may just be a staggered closing and take a few days, first closing accounts for the online openings, before proceeding to the rest of us. Or as you note, perhaps it’ll last another quarter or two…

Makes sense. My account is still open.

I commented in the original thread asking if anyone else didn’t get an email. No one replied.

Probably because most people opened theirs online, they did get the e-mail. I did, but I only got two e-mails out of four accounts. Now we know why.

Account access automatically restored this morning. Prompted me to change password for my 2 online accounts thought. Both of these has savings axed. The saving on the 2 from phone are still green Should I be celebrating the possible 70 cents of interest I got from yesterday on these?

Changing the password was probably just periodic. Insight makes them expire every 90 days I believe, so it was just your time to play the make a new password game.

Ah, okay. Thanks for this. I won’t have a mini heart attack if I see the change password on my other 2 functional savings in a few days.

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