Update: It looks like this offer is only good on new accounts. Thanks to reader Jackalope for pointing this out.
The Offer
- Receive a $20 credit bonus if you receive a direct deposit of your tax refund into a registered T-Mobile Visa Prepaid Card
The Fine Print
- Limit of one credit per eligible account
- Offer good on new accounts activated with direct deposit of federal tax refund
- Allow up to 8 weeks from refund receipt to process
- Valid from January 14th until April 30th, 2015
Our Verdict
Most of my readers will be familiar with this product as a way of manufacturing credit card spend but it’s actually targeted at people that are unbanked or underbanked (like all prepaid cards). You can also get another $20 if you set up direct deposit with this card.
Serve are offering a similar $20 bonus, but theirs is a targeted promotion. A lot of the tax filing software is also offering you an additional 5-10% back if you purchase gift cards with your tax refund instead of receiving cash (TurboTax is also offering 1,000 miles or $20).
I don’t think it’s worth signing up for this card just for the two $20 bonuses, but if you already have it then you should consider depositing your tax refund in there. It’s also a good chance to have a look at another manufactured spending route if you haven’t considered it before.
I’m going to deposit mine and get the $20 bonus unless something better comes along, I’ve added this to the ways I’ve made money in 2015.
Direct link to offer | Screenshot of offer
Hat tip to Maximizing Money for finding this deal
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