US Bank to shut down Visa Buxx accounts

As reported by Miles Per Day, it appears that US Bank is discontinuing the Visa Buxx program for existing cardholders.  They previously stopped allowing new members to apply quite a while ago, but existing members have been able to use their cards and, until last month, even order new teen cards since then.  It looks like those days will soon be over.

Buxx

A reader sent the above letter to Miles Per Day.  The letter indicates (among other things) that the last day to load funds will be October 24th.  Click the picture above to view the full story.

Interestingly, the letter also states that cash advance teller withdrawal fees will be waived effective August 31.  So, getting money out of the account should be easier and cheaper than before.

What’s the big deal?

Buxx cards are debit cards intended for teenagers.  Most Buxx cards (including these) can be loaded online by a parent with a credit card for a small fee.  Usually, you’ll earn credit card rewards (worth more than the fee) for doing so.  And, since they are debit cards, there are ways to unload the money cheaply or for free.

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13 Comments on "US Bank to shut down Visa Buxx accounts"

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Lisa
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I was getting suspicious in the last few days when people lost the ability to add new teens. So far my NW is chugging along. Hope it’s not contagious!

Josh
Guest

What’s NW?

Dustin
Guest

Has anybody else received this letter as the three account holders in my family have not as of today’s delivered mail. The letter is dated 8/31 which is pretty quick to receive correspondence from a fairly large bank. I’m holding out hope that this is a hoax.

Eric
Guest

Well it certainly can be plausible because you have to keep in mind where the letter is coming from. Perhaps if the letter came from a guy who lives in the state where USB is headquartered it would make sense that they could have received the letter in 2 days. Another reason could be that USB probably sent out the letters in the mail late last week but dated it for August 31st since it wanted to account for some time to get it to all their customers throughout the country.

Gunnie
Guest

Sad day indeed, I received my four letters in the mail today.

David
Guest

Just signed up for a Capital One 360 MONEY card to replace my daughter’s Visa Buxx card. Seems to have an easier to use management interface too! Still sad to see Visa Buxx go.

Jeff
Guest

I haven’t received the letters yet. Interesting that I have still been able to request replacement cards for my expired cards within the last few days and nothing was mentioned to me over the phone.

Eric
Guest

Stop dreaming and wake up…the USB Buxx cards are closing and thats a fact. I received the letters on all 3 of my USB Buxx cards and so will you very soon. There is plenty of people including FM who have received the letters so don’t think your region you are exempt.

Akshay
Guest

Does Capital One 360 MONEY card allow Credit card deposit?

trackback

[…] clicked “top Up” in the Revolut app and entered my gift card details.  No dice.  How about my no longer useful US Bank Buxx card?  Yep, that worked.  I successfully moved the final $300 from my Buxx card to my Revolut […]