The unemployment agency of California has a contract with Bank of America EDD to issue debit cards that contain benefits for jobless residents. The Employment Development Department (EDD) exercised an option to extend the bank’s contract for two more years. However, this exclusive contract between the Bank of America and EDD since 2012. Once you get your bank of America EDD card, your benefits may be paid through a debit card.
You will get this card from your state unemployment office. They will send you a mail once your claim is approved. The major goal of this contract is to provide service to claimants. EDD intends you exercise its right under the existing contract with bank of America EDD of America to continue providing debit card service. According to this agreement, Bank of America will continue to provide debit cards for unemployment benefits in the state for the next two years.
Options for Getting Unemployment Compensation:
When you decide to file for unemployment, you will be advised of the various options available for getting benefits. Many states no longer issue paper checks because it is far less expensive to process advantages electronically. In those states that have gone electronic, options for unemployment advantages include having a direct deposit transferred straight to your bank account or having your benefits added to the bank debit card.
What is Bank of America EDD Card?
To help the customers get their Unemployment, Disability, and Paid Family Leave Program benefits faster, easier and more secure, the EDD has worked with Bank of America to introduce the bank of America EDD debit card. This card is like any other debit card with access to funds 24 hours a day, 7 days a week and can be used everywhere Visa debit cards are accepted. Remember that this card is valid for three years after the date of issue and will be used for all EDD benefit programs.
Ways to Get Access to Cash:
Once you get your bank of America EDD debit card and Welcome packet in your mailbox, thoroughly read your California Employment Development Department Debit Card Deposit Agreement. It is also very important to carefully re4ad the Schedule of Bank of America fees section to ensure that you understand any transaction and service fees that may apply to your card. However, the fees can be avoided with careful use of the card. To get access to cash without paying a fee, you can do the following:
- Always make cash-back purchases to grocery stores, drug stores and US port office locations.
- Make your ATM withdrawals only from the Bank of America ATMs.
- Unlimited cash access at any bank or credit union that accepts Visa cards with valid ID.
How do Bank of America EDD Debit Cards Work?
Once you sign up for benefits, your bank of America EDD debit card will send to you through the mail. After you receive it, you will need to activate it and set up a PIN to get funds from the government. You will get your funds according to the schedule determined by your local unemployment office. You can also pay bills with this card. For instance, you may be with a Chase Vise Card, a KeyBank debit card, a Bank of America MasterCard or another bank-issued card.
Using your card won’t be apparent to the department store or your dry cleaner that it is an unemployment payment card. Your bank of America EDD card is just like your personal debit card. Moreover, you can also be able to transfer funds from your EDD debit card directly to your bank account through a direct deposit transfer if you want to pay your monthly bills that way.
Fees of EDD Card:
Undoubtedly, an EDD card is a convenient and mostly free way to spend your benefits. You will not want to pay any account maintenance fees and no inactive account fees. In addition to this, all domestic purchases have no fees, no matter whether they are made in-store or online. Moreover, the ATM withdrawals at Bank of America are also cost-free. If you need to withdraw money after two free withdrawals, you must pay a $1 fee. The ATM may also charge an additional fee for you. If you are travelling with your EDD card, each international transaction will cost you 2% of the amount and ATM withdrawals will be $1 and ATM fees.
What to do If You Don’t Get your Payment?
Generally, the payments are made weekly or biweekly, depending on your location. If your payment is more than a few days late, then directly call your unemployment office to get the information. They will be able to provide you with the information as to whether or not your payment has been processed and want to do if your payment is delayed or there is some issue.
Sometimes, your bank of America EDD debit card has been lost, misplaced, damaged or stolen. No need to worry. In addition, there is a FAQ section of your unemployment office for instructions about getting a replacement card. Visit that section and apply for the replacement card according to the instruction.
How to Apply for Bank of America EDD?
Applying process for the bank of America EDD program is completely online. You don’t need to go to their offices, although there are many statewide. However. If you don’t have an EDD account yet. You will have to register for one and confirm it by clicking on the link in the email you will get from your unemployment office. After that. You need to log in to choose which claim you want to complete.
Link Your Checking Account to Your EDD Card:
Once you have taken out your money and deposited it at your financial institution. Visit the website of Bank of America and link your checking account to the debit card. The most important thing to remember is that neither Bank of America. Nor the EDD informs you that your EDD visa debit card account number is your card number. And your password in the last 6 digits of the card number. So, access your account and enter your financial institution information.
Undoubtedly, the bank of America EDD debit card is especially beneficial for the disabled and those who want to pay family leave benefits. However. EDD intends you exercise its right under the existing contract with Bank of America to continue providing debit card service. It shows that Bank of America will continue to provide debit cards for unemployment benefits.