American Express just sent out emails to their prepaid cardholders on Serve, REDcard, and Bluebird that starting October 28 we will no longer be able to add funds to the prepaid using a linked bank account.
Important points:
- You’ll still be able to withdraw money to a bank account
- If you already have a bank attached before October 28, you’ll be ‘grandfathered’ in and can continue to use it even for adding money.
- All other add-money methods will remain, including credit and debit card online loads, in-store loads, and direct deposit.
Obviously, the withdraw money feature is more important to most of us than the add money feature, but you’ll be surprised to hear that many people have used the bank-load method for one reason or another.
If you think you may use the feature in the future, be sure to link now the bank that you want to use – once it’s linked you’ll be able to continue using it, but you won’t be able to switch linked accounts to add money from a different account after October 28.
The last 2 days I have received an error message of “technical difficulties” when I tried to pay a bill from Serve. I just tried to withdraw funds and it worked fine. Has anyone else ran into this problem?
Finally, found the link to transfer funds to my bank account (and add a bank acct) under “Settings” in case this info helps any other new account holder – a quick and un-intuitive site redesign. Because why would this functionality be listed under the much prominent “pay &
transfer” :).
Would like to withdraw from my One VIP Serve without having previously had a linked bank account. looks like the buttons to add a bank or withdraw are now gone. any advice? could i try to find my bank on bill pay and “bill pay” myself? seems like there should be a more obvious way to ‘withdraw’ but the button seems to not exist as previous instructions once showed.
Has anyone confirmed that you can add a new bank account in order to withdraw money from Serve?
I just did. Withdrawing is no problem.
“You can continue to easily add money through Direct Deposit, Debit Card, and Cash Reloads at any U.S. Target store.”
So now I can unload gift card at Target?
Yes, is RedBird back?
That’d be crazy but I highly doubt it as the word “continue” is in there. Most likely just language copied and pasted from older communication.
No, they are referring to loading from debit cards online.
Another blog made the comment that this language can be interpreted as “(Direct Deposit), (Debit Card), and (Cash Reloads at any U.S. Target Store)” … that is each is a separate item and the only thing that applies to Target Stores are the cash reloads.
The wording of their email was vague.
What I care most about is whether or not I’ll be able to link bank accounts going forward for the sole purpose of withdrawing (to meet direct deposit bank bonuses obviously). The answer to this isn’t 100% clear.
anthonyjh21 –
I think we are fine on this. The email says ” However, you will still be able to transfer money out of your Serve Account to a bank account” which is currently how this is done.
Well, it look like I was wrong based on Steve’s answer below.
Right, but we’ll have to remove and add a new bank account to make a withdraw to a new bank account.
@Steve
Their outsourced support out of the Philippines is as useful as two tits on a bull.
Their response doesn’t make any sense. In theory if you don’t change a single setting you should be fine so only at closing comes across as silly. Give you credit for calling in though.
The question is which one of us brave souls is going to remove the bank account to test if a new bank account can be linked tomorrow?
I called. CSR said I can add a new bank account, but I can only withdraw when I want to close my Serve account. Which didn’t make much sense to me, but I guess we’ll have to wait and see.
I add funds to my BB account all the time. If I’m plugging $5k worth of prepaids every month, I transfer funds from my account to cover the fees.
I’m glad i’m grandfathered in, but this sucks. I was going to switch banks, but now I’m not so sure. Plus, now my wife’s new serve account (previously a redcard) can’t be loaded by ACH.
I don’t get it… how does removing this feature help amex?
From similar email to Redcard holders:
Funding & Transfers
As of October 28, you will not be able to link a new bank account to your Prepaid REDcard Account to add money. However, you will still be able to transfer money out of your Prepaid REDcard Account to a bank account.
If you currently have a linked bank account, nothing will change – you’ll still be able to add money from that account.
You can continue to easily add money through Direct Deposit, Debit Card, and Cash Reloads at any U.S. Target store.1
Note the last sentence about debit card loads in store?
By the wording isn’t it possible they mean that you cannot link a new bank account after today?
I noticed that as well. Hopefully someone gives it a shot today. I’ll try loading it tomorrow.
If I switch bank accounts after today and later switch back to the first bank (that was grandfathered in) will I again be able to add funds? One time I accidentally added money from my bank account instead of my credit card which caused a huge headache. At least that can’t happen anymore.
My Redcard email reads like this:
We want to let you know about some changes to the terms and conditions of your Prepaid REDcard® by American Express Account:
• Funding & Transfers
As of October 28, you will not be able to link a new bank account to your Prepaid REDcard Account to add money. However, you will still be able to transfer money out of your Prepaid REDcard Account to a bank account.
If you currently have a linked bank account, nothing will change – you’ll still be able to add money from that account.
You can continue to easily add money through Direct Deposit, Debit Card, and Cash Reloads at any U.S. Target store.1
• Early Direct Deposit
Now you can get access to your money up to two days faster* with Direct Deposit. You can automatically add all or part of your paycheck, government benefits and federal tax refunds to your Prepaid REDcard Account.