CUNY Scholar Support Card


<p>I just got an email from CUNY and it has details on how to get financial aid funds faster (and supposedly safer).</p>

<p>Below is the message from the email,</p>

<p>Receive your financial aid funds, including work study, faster and easier!</p>

<p>CUNY is pleased to introduce the CUNY Scholar Support Prepaid Card. This is a cash card and is a fast, secure and most convenient way for you to receive your financial aid!</p>

<p>Effective immediately, students awarded financial aid, including work study, can receive their payments on a CUNY Scholar Support Prepaid Card. This is a joint project between CUNY and Citibank.</p>

<p>The CUNY Scholar Support Card is not a credit card and will not affect your credit. It is a prepaid MasterCardĀ® you can use to make purchases at any retail store or online or get cash at ATMs where MasterCard is accepted.</p>

<p>Your financial aid funds, including work study payments, will automatically be deposited to your card. That means no more trips to the bank or waiting for your check to clear. Your funds can be used as soon as they are deposited to the card. In addition, you are the only one with access to the funds.</p>

<p>The CUNY Scholar Support Prepaid Card offers many benefits over paper checks including:
Faster access to your funds
No check cashing fees
No need for a bank account</p>


<p>I don't mind getting my funds earlier than usual but do you think it is safe? Should I apply for one? Also I double checked the sender's email address and it is genuine.</p>

<p>Some feedback would be great, thanks.</p>

<p>Information</a> and Frequently Asked Questions - Scholars Support - CUNY
It's a debit card with fees. Not a good idea.</p>

<p>It's a prepaid 'debit' card but I don't think the fees are too bad. Withdrawals are free if you use Citi ATM's and tuition has been paid for already so no fees to charge there. Let me know if I left something (of vital importance) out.</p>

<p>This is pretty new so I doubt that I will get much answer but I would like to try and squeeze out a bit more answers/opinions where possible.</p>

<p>I think it's of limited value if you have a checking account. My D's SUNY just direct deposits her refunds and it's super quick anyway. Our bank, and many others, offer free student checking accounts with optional debit cards.</p>

<p>Fwiw, my opinion of these debit card arrangements is pretty low. I have a prepaid debit card like the one CUNY is offering which one of the companies I work for insists on using to pay us with. It's a HUGE pain, much more inconvenient than direct deposit and more expensive too. I resent any fees I have to pay just for the convenience of my employer, hate having to stand in line to transfer money from it to my checking account so I can pay my bills (there is an online transfer option but that typically takes 3-5 business days), and have had my entire month's pay evaporate through identity theft on the darn thing when I used it one time at a large grocery chain who got hacked! Despite the Visa logo and the fact that this was a widespead attack affecting thousands of people, they still required me to file police reports and wait nearly two weeks for the funds to be replaced (and it took numerous phone calls to the black hole known as "customer service"). My bank, otoh, told me that they would have replaced the funds in 24 hours...and I can walk in and talk with the manager anytime I see an error has been made.</p>

<p>Thank you, I totally forgot about the direct deposit method. I guess that is the smarter rout to take instead of this prepaid deal.</p>