Revolution Money Exchange Launches RevolutionCard

A few months ago, RevolutionMoneyExchange, a challenger to Paypal, generated some buzz when they offered a $25 signup bonus for every new account. I signed up an account and used it to make some transfers. From my limited experience, the service is quite nice and easy to use. The best part is that there’s no fee for transferring funds among MoneyExchange users, which is far better than Paypal which charges fees for most of the transactions.

Now RME is making accessing funds in the RME account more convenient by introducing the RevolutionCard. This is not the Revolution credit card, though they have the same name. Rather, the new RevolutionCard, which is tied to the RevolutionMoneyExchange account, is more like a debit card. With the RevolutionCard, you can pay your purchases right from your RME account. And like a debit card, you will need to use your PIN to authorize a transaction. While using the card is mostly free, the account does charge some fees for services such as (see disclosure for details)

• Balance Inquiry ATM: $1.50
• Cash Withdrawal ATM: $1.50
• Lost or Stolen Card Replacement: $5.00
• Withdrawal by Check: $2.50 per check
• Returned ACH Fee: $35.00 per returned ACH
• Overdraft: $35.00 per overdraft
• Stop Payment on a Check: $20.00 per check
• Paper Statement: $5.00 per statement

Currently, the RevolutionCard is accepted both online and at retail stores including Barnes & Noble, Buy.com, CVS, Circuit City, Macy’s, and Walgreen’s, etc (complete list of stores here). To promote the RevolutionCard, is giving a $5 bonus for each of the first three purchases of $25 or more within 90 days after the card is activated. That’s a bonus up to $15 for each account. Since I am a credit card person and perfer to use cash back credit cards to make purchase instead of debit card or cash, I probably won’t use the RevolutionCard.

Don’t have a RME account? Send me an email from the Contact page and I will be happy to send you an invitation together with a $5 bonus

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