Goverment Issued Debit Card

[csyjnapapa]

Any FE companies accepting these for monthly EFT?

 

[Rearden]

5Star.......................

 

[rousemark]

if a company accepts credit cards, does that include the EBts?

 

[jdeasy]

if a company accepts credit cards, does that include the EBts?

Not many companies take credit cards/debit cards for recurring monthly payments. Some that do, like Monumental for example, still do not take the Direct Express.

Right now 5 Star takes all credit and debit cards for monthly recrring payments. That includes the government issued Direct Express. 5 Star also does direct monthly billing. And will change to direct monthly billing if the credit card debit does not go through. As will Monumental.

 

[Mash]

I represent a F E company that does honor the Federal Debit Card program .. . . I sold 6 policies on the debit card automatic payment plan., . . .and 5 of them lapsed immediately.
The people who are on the Federal Debit program are used to geting their S S check every month, cash it at a check cashing store, and spend the cash. Now they go to the bank that honors it on the day of deposit ... withdraw every nickel and when your draft comes through it will bounce.
These people can't handle a checking accound, that's why they have this card. But their mind is still programed to withdraw every nickel as soon as it is deposited. At least my experience is that they do not know how to handle money, and to politely excuse yourself and leave if they do not have a regular checking account. Sold 6 .. . . .5 lapsed ! Not a good ratio.

 

[Newby]

5-Star accepts them but they have told me the success with them has been very low. The post previous to this one is probably pretty accurate as to why.

I would still write the business but don't count on it sticking. The few that do are just business you wouldn't have gotten any other way.

 

[Mash]

As an alternative, and something that may suit your needs in this area, New Era Life from Texas has a Direct Bill Monthly option. They will pay commissions on this on an "As earned" basis.
Then your Debit Card client coud still cash they S S check like they always do. . . and send in a money order every month.
Don't know if you want to go this route or not.

 

[rousemark]

As an alternative, and something that may suit your needs in this area, New Era Life from Texas has a Direct Bill Monthly option. They will pay commissions on this on an "As earned" basis.
Then your Debit Card client coud still cash they S S check like they always do. . . and send in a money order every month.
Don't know if you want to go this route or not.

That might be the problem.. You might end up with a 'route' because they would want you to come by to collect the premium.

 

[Newby]

As an alternative, and something that may suit your needs in this area, New Era Life from Texas has a Direct Bill Monthly option. They will pay commissions on this on an "As earned" basis.
Then your Debit Card client coud still cash they S S check like they always do. . . and send in a money order every month.
Don't know if you want to go this route or not.

Lots of companies offer that. It's not usually worth writing.

 

[TPAAgent]

I heard Monumental went back to taking SS EBT cards- thought I got a e-mail on that a month ago or so...