BB&T MoneyAccount Review
The BB&T MoneyAccount prepaid card is among the best brick and mortar bank cards. But you’ll need to be in the 16-state area to get the benefits.
If you have easy access to BB&T Bank branches and ATMs, the BB&T MoneyAccount card can be one of your best choices among prepaid cards. That’s because the BB&T MoneyAccount offers free ATM cash withdrawals at their ATMs and free cash and check loads at their branches. The monthly fee is a reasonable $5 per month, and that drops to $3 for those that load $1,000 or more to the card each month.
The BB&T MoneyAccount card is a Visa branded card and can be used for purchases wherever Visa debit cards are accepted. And it offers most features you’d expect from a prepaid card, like a mobile app for easy access to transaction history and balances. The MoneyAccount card adds an additional perk with cash-back offers for select purchases.
The BB&T MoneyAccount has two downsides though. The first is geography. BB&T has a presence in only 16 states–mostly the midwest and southeast. If you use ATMs or load cash other than at a BB&T branch or ATM, it’ll run up your costs quickly.
The second is its one unexpected fee–a customer service fee. The BB&T MoneyAccount costs $2.00 per incident. Something we’re not a fan of at PrepaidCards123 since prepaid card users typically need live customer service only when they need to resolve an account problem. An additional fee is the last thing you want to worry about when there’s already an issue with your account.
Features of the BB&T MoneyAccount
Like most prepaid cards, the BB&T MoneyAccount offers free direct deposit of paychecks or government benefits. But the card also offers some other solid features like.
- Mobile App. The U by BB&T app is available for Apple and Android. It lets you check your card balance, see transaction history, and even schedule transfers from your BB&T checking account, if you have one.
- Free ATM Transactions. If you have easy access to BB&T ATMs, you can get cash with no fee at ATMs with the BB&T logo. You can find branch and ATM locations here.
- Select Cash-Back Offers. Based on your purchase history, BB&T will provide its MoneyAccount holders with offers for select retailers to earn cash back rewards. The offers can be accessed through the mobile app or the online portal.
The BB&T MoneyAccount Visa has a simple and (mostly) reasonable fees.
There’s no fee to purchase or activate the card and no fees for purchase transactions.
The card charges a $5 monthly fee. That’s about average for prepaid cards that charge a monthly fee. But the monthly fee is reduced to $3 when you load $1,000 or more to the card in the prior month. That’s not bad, but some cards have no monthly fee when you load the same amount.
The MoneyAccount card offers free ATM transactions at BB&T ATMs, including cash withdrawals. But out-of-network ATM withdrawals come with a steep fee of $3 in addition to fees charged by the ATM owner. That’s a significant issue for those that won’t be using BB&T ATMs.
There’s also a $2 fee for every customer service call. Not great, but for the most part, avoidable.
The BB&T MoneyAccount has limits, like card balance and ATM limits, that are middle-of-the-pack for prepaid cards. They’re plenty adequate for most prepaid card uses.
The maximum card balance for the MoneyAccount card is $10,000. The daily ATM limit is $500. And cash loads are limited to $3,000 per day.
Adding Money to the BB&T MoneyAccount
For those in the BB&T service area, there are plenty of options to add money to the card. For those outside the service area, they’re more limited.
- Direct Deposit. Like most cards, the BB&T MoneyAccount can be funded by direct deposit of paychecks or government benefits.
- BB&T Branches/ATMs. Cash can be added to the card at BB&T branches or ATMs.
- Visa ReadyLink. As a Visa-branded prepaid card, you can load cash at any Visa ReadyLink location. Visa ReadyLink agents charge up to $4.95 for the service.
- Check Deposit. You can deposit checks to the card at BB&T branches or through the Ingo Money mobile app.
How to Get the BB&T MoneyAccount Card
You can get the MoneyAccount card online or at BB&T Bank branches. It’s not available at retail stores. The card requires only a simple application for verification of identity, which includes social security number. No BB&T Bank account (or other bank account) is required.
The Bottom Line
The BB&T MoneyAccount is an attractive option for those close to BB&T branches and ATMs. Using BB&T locations to load to and get cash from the card keeps the fees low. Although the monthly fee can’t be waived entirely, it’s reasonable, and more so if you regularly add enough to the card to qualify for the lower fee. And the features are solid.
Be aware of the customer service fee though. It’s a fee we don’t like to see and has gone away for many prepaid cards.
For those outside the BB&T service area, this probably isn’t the card for you. It’s worth comparing other prepaid card options.
Best For: Those near BB&T branches and ATMs
Not So Good For: Those that are outside the BB&T service area; those that anticipate using live customer service