Fees & Charges:  

There is a $9.95 fee for activating the MiCash MasterCard but that can be more than offset by a $20 rebate that can be earned by setting up direct deposit.

There are a couple of different options for paying the monthly fees for the MiCash MasterCard. Regardless of the option chosen, there is a $4.00 monthly account Maintenance fee. Then there’s a choice of paying a $7.95 monthly fee for an unlimited number of purchase transactions or of paying for them individually at the rate of $ .50 each. Clearly, users who make more purchases would be better off opting for the $7.95 fee but, with the unusual $4.00 maintenance fee, that does equate to an $11.95 monthly fee which is steeper than the competition.

On a positive note, several other common fees are less with MiCash than are charged by most competitors. The fee for not using the account in a 60-day period is $2.00 per month. Cash withdrawals from an ATM cost $1.75 each while the same withdrawal from a bank teller runs $4.00. ATM withdrawal attempts which are declined incur a charge of $ .60 as do declined purchase attempts. Balance inquiries at an ATM are charged $1.00 and funds can be shared between MiCash MasterCard accounts for $2.00. A lost or stolen card costs $10.00 to replace.