All online banks provide customers options for depositing money, i.e electronic fund transfers, uploading an image of the check via an app, as well as mailing a check to the bank to be credited to their accounts. But what if you only had cash that you want to deposit to your online account? And by cash, I mean actual paper currency and loose change that you might have gotten from selling something on Craigslist or from a temporary working gig where you were paid in cash only. Suppose you didn't have a traditional brick-and-mortar bank account where you could deposit the cash at a local branch and later make an electronic transfer online? This is where Bluebird by American Express makes it possible to deposit loose cash to an online bank account.
I have Bluebird by American Express which is a prepaid card that charges no monthly fees or purchase fees and is usable at any business that accepts AmEx cards. I use it sometimes to make quick cash deposits to my Capital One 360 Checking account. It's totally free to apply for and requires no credit inquiry of any kind. Plus you can reload it with cash, debit card, or checks at any Walmart, Walmart Supercenter or Walmart Neighborhood Market. It basically eliminates the need for a traditional bank account and dealing with bank tellers.
These are the steps I took:
- Applied for a Bluebird Card: You can buy a Bluebird setup kit which contain temporary cards at any Walmart store for $5, but you can also apply for a card online like I did at www.bluebird.com at no cost to you. All that's required to qualify is that you're at least 18 years of age, a U.S. citizen, and able to provide needed documentation that verifies your identity. It's a simple process that doesn't require any credit inquiry and all you have to do is meet the qualifications and you'll get your official Bluebird Card in the mail. After you receive your official card, activate it online and set up your account at the Bluebird site. Then you'll be all set to use it for loading cash, purchases and transfers.
- Loaded my cash to Bluebird at any participating Free Cash Reload network location : You can do this at all Walmart locations by loading at the Customer Service desk, Walmart Money Center
(only at Walmart Supercenters) or when checking out with a cashier. You'll get a receipt for the load transaction and then whatever amount of cash you load onto your card will be available in your Bluebird account immediately. - Made an electronic transfer from my Bluebird account: After you load the cash to the card, you'll have to log in online to your Bluebird account on a computer or with Bluebird's free mobile app and set up an external account, i.e., the mobile bank account you will make electronic transfers to. Then, once your bank account information is verified, you will be able to electronically transfer the cash you loaded to Bluebird to your online bank account by clicking on the Withdraw option and putting in the amount you want to send to your bank account.
- Checked my 360 Checking account: Bluebird electronic transfers take 1-2 business days to appear in your bank account and are completely FDIC-insured.
It's a really simple process only without the hassles or transfer fees associated with a traditional bank account. Plus 7 most Walmart stores are open 24 hours, so you deposit cash inside the store in the wee hours of the morning, late at night, or pretty much anytime that's convenient for you which you can never do at a regular bank branch - at least without risking your safety at their ATM's.
All you have to do is apply online to get a Bluebird Card free of charge and give yourself an extra option of adding funds to your online account. However, if you happen to not have a mobile bank account or you're looking to set one up, I'd recommend Capital One 360 Checking. I've had an account with them for over a year now and like Bluebird, it is free and charges no monthly fees, is FDIC-insured, and much more.
You can also load cash at these other participating stores:
- CVS/pharmacy
- Walgreen's (and participating Duane Reade stores)
- Family Dollar®
- Rite Aid
- participating 7‑ELEVEN®locations
Apply for a Bluebird Card Here:
Apply for Capital One 360 Checking Here and Get a $25 Cash Bonus:
