The Bancorp Bank is trailblazer in financial services and one of the few companies in the world specialized in providing private label banking and technology solutions to meet the unique business needs of non-bank companies. From the start, they’ve spent most of their time and efforts behind the scenes, putting the companies who work... show more
The Bancorp Bank Reviews
The WalletHub rating is comprised of reviews from both WalletHub users and ratings on other reputable websites. The rating was last updated on 06/16/2021.
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The Bancorp Bank
WalletHub @WalletHub
editor's review
TheDark Child - Actually neither Suze's prepaid debit card or ANY other prepaid card help you build your credit in any sort of manner! It is actually unfortunate that Suze markets her card in such a misleading way...
The only thing that Orman's prepaid card does is that it shares purchase, payment and other transaction information with TransUnion (one of the major credit bureaus) so that they can study the correlation between that information and the information that is currently included in most consumer credit reports. In other words it is a study that will yield NO changes to a consumer's credit report and credit score. Maybe two years after the study is complete something actionable might emerge.
Bottom line is that if you need to build or rebuild your credit score stay away from Suze Orman's prepaid card or ANY other prepaid card for that matter. Just apply for a secured credit card: https://wallethub.com/credit-cards/secured/
The PayPal Prepaid MasterCard’s negatives unfortunately far outweigh its positive attributes for most use cases. First and foremost are its $4.95 monthly fee and $1.95 ATM withdrawal fee, which promise to make the account quite expensive to maintain, especially if you often need cash. And to add insult to injury, if your card is ever lost or stolen, you’ll have to pay $5.95 for a replacement.
One of the only times this card would make sense is if you’re very popular and don’t mind saddling your friends and family with a mediocre prepaid card. You will receive $5 for each person you refer who opens an account and loads at least $10. That person will get $5, too, but few of us are situated for this sort of prepaid-card Ponzi scheme.
For more information on this offer, you can check out our full PayPal Prepaid MasterCard review: http://wallethub.com/edu/paypal-prepaid-mastercard-review/25973/ .
While the American Express prepaid card has much lower fees than most prepaid cards, they do not offer a bill payment service which renders the card useless as an alternative to a checking account. Also they are not affiliated with an ATM network which means that the combination of Amex's ATM fees together with the fee charged by the owner/operator of the ATM can make the Amex card a very costly card for someone that needs frequent ATM access.
Here is more information on the Amex prepaid debit card: https://wallethub.com/d/american-express-prepaid-card-569c/
Someone opened an acct in my name fraudulently. Their customer service was unwilling and unable to help instead directed me to email their info box instead. You would think fraud activity would be a concern for them however it isnt. It's funny how you only need limited information to open one of these accts it's almost like they are supporting criminal activity for profit.
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Product: The Bancorp Bank Checking
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3
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The Bancorp Bank
Carrie Hurst @carriehurst84
Chime Checking, Savings and the WONDERFUL Credit Builder have changed my thinking and habits financially. Within 6 weeks my scores each went up individually over 10pts! Now it was only the Credit Building Card responsible for this but I can’t even describe to you how quickly things changed!
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Product: The Bancorp Bank Credit Cards
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3
0
The Bancorp Bank
vdavislvn @vdavislvn
Have been with this Bank for 15 years. December, 2020, was told my account had been compromised. Was able to get it straightened out. Then the 30th of Dec. 2020. My account was closed by this bank with no explanation. Had a direct deposit from work. They still have my money. They don't know where it is. If I could give less than a 0 review I would. They are thieves-need to be prosecuted to the extent of the law. Customer service said to e-mail them. HOW? With that money I needed to pay my bills. Maybe this is how they have so much money. Rating is minus 0 Vicki Davis
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Product: The Bancorp Bank Prepaid Cards
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3
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The Bancorp Bank
Yashica Primrose @yprimrose
Receive a Rewards Card which has The Bancorp Bank as it's backing. I called first to verify the balance on the card. Big mistake, there is no automatic system, but a live person, whom would not help me because I wasn't the person on the card even though my mother is the person that gave it it to me to do her shopping. So I verified it through the email address. Went into one of the largest retailers in the world and the card was declined. Couldn't even use it as credit. Therefore, I had to use another form of payment from my credit card that I wasn't prepared to do because it was her shopping I was doing. After I looked into the faq selection they said you have to request a pin. I have never in decades of using rewards cards have to request a pin for a card sent to us. The sad thing is it takes 2-3 days to get it. It's the weekend so I know it will take even longer to get. Major Red Flag: bank doesn't have automatic systems to help their customers. Next Red Flag: if you don't use the card by the expiration date they will charge a $4.95 monthly fee until all funds are gone. Another Red Flag: a reward card actually expires with a maintenance fee. I DON'T THINK THIS IS A REAL BANK. This is why I try to use reward cards at any merchant that will take them and make sure I do the full balance in one transaction. This is my first experience with The Bancorp Bank and I have learned a great lesson, DON'T DO BUSINESS WITH THE BANCORP BANK.
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Product: The Bancorp Bank Prepaid Cards
Comment
2
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The Bancorp Bank
Veliborka Jovan @millian7132
STAY AWAY FROM BLUEVINE AND THE BANCORP BANK. They closed our business account soon as we deposited large amount of money and now no one wants to tell us what’s going on. BlueVine is blaming Bancorp and Bancorp is just saying contact BlueVine. Reading by other reviews many people have same issues. They will steal your money and work with it until you pay Attorney to get it back! STAY AWAY FROM THESE FRAUDSTERS.
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Product: The Bancorp Bank Checking
Comment
2
0
ggallo71 @ggallo71
Having the SAME issue with them right now!
-Opened a business checking account.
-A week later $18,500.00 was deposited via wire transfer from a Customer.
-The following day, no access to my account and when I called, they could not provide any information and basically to bad.
*Is is now 4 days later and no response or even a ANSWER.
I guess:
Time to engage LE
STAY AWAY
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Comment
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The Bancorp Bank
amiotte161 @amiotte161
Ordered a card with my name, never recieved it. They deactivated the temp card then want to charge me for a replacement. Then want $25 to expidite the shipping. With everything going on in the world money`s tight but they still want to take as much as they can from you.
Simple is simply terrible. No bill pay. Can't do practically anything with it. The interface looks modern but offers next to no functionality. The only thing they've done in the past couple of years is remove functionality from their website. I had a scammer take over $150. I created a dispute. They made me supply endless documentation to prove I was in the right. I was the victim. I lost $150!!! Don't chance it. Use another bank. PS. They aren't even a real bank.. they use the same "bank" as Chime and all the rest. Customer support at simple is terrible and rude. I'm done with them.
You cannot get a Chime credit card. Chime is a checking account that comes with a debit card.
So that means that you won't have a credit line at your disposal. Rather, you will need to put money/receive money in your account. You will only be able to spend up to your balance, that's all.
If you enroll in the card's direct deposit service you can receive your government benefits up to two days earlier. Please find more details here: https://www.rushcard.com/direct-deposit.
Please note that RushCard is not a credit card, it is a prepaid card. Thus, you won't be charged an interest rate as you would be spending the money you previously loaded into the account. Please find more details here: https://www.rushcard.com/prepaid-debit-cards.
