Brink’s Armored™ Account review: Low-cost benefits and yields

The Brink’s Armored Account debit card may not be the best option for long-term use, but it’s good for setting up for the future. For people starting out with any cashless case and wondering what to do, the Brink’s Armored Account has a few perks worth taking a look at.

Benefits: A solid suite of perks

As a standard Mastercard, the Brink’s card offers $0 liability for unauthorized purchases and other fraud monitoring services. The card also offers two-day early direct deposit and a decent portfolio of handy Netspend benefits if you’re a Brink’s Preferred Benefits cardholder. 

Prepaid cards operate like debit cards in that you can’t spend beyond your card’s balance. But if you’re a Brink’s Preferred Benefits cardholder, the issuer may give you up to a $10 negative balance as a courtesy, offering some wiggle room if you’re in a pinch.

Monthly fees: Deposits work in your favor

With debit cards, one fee you need to be aware of is the monthly service fee, also known as a maintenance fee, that adds to the balance. There’s a growing trend of banks getting rid of them, but that’s not always the case. With the Brinks Armored Account, your monthly fee is waived when you deposit a minimum of $500 each month. If you plan to use this card as your main debit card, you may be able to reach this requirement easily. Plus, you can receive your money two days earlier when you sign up for the card’s direct deposit option.

The Brink’s Armored Account delivers the same opt-in Payback Points rewards program as other Netspend prepaid cards, but Brink’s program is called Brink’s Money Payback Points. The redemption options can be valuable, but the point values and higher-yield reward opportunities are a bit foggy unless you already have an account.

Rewards: Too low to stand up to fees

You’ll earn 1 Payback Point per dollar on signature purchase transactions (just select “credit” on the keypad at checkout), minus your purchase fees. However, you may be able to earn bonus points at a higher rate if you take advantage of additional limited-time, merchant-specific offers in your Online Account Center. Luckily, these reward opportunities can easily fit into your regular spending since they are personalized around your purchases. These additional offers are similar to card-linked reward programs, similar to Amex Offers or Chase Offers.

Because the Payback Points program’s terms are a bit vague, it’s difficult to tell the exact point value. If you plan to redeem points you earn with your rewards card for cash back, you typically want your points to be worth at least 1 cent apiece. Considering the fees attached to this card, the cost of using this card can easily eat up the value of any rewards you earn.

Rates and fees: Costs pile up quickly

If you choose the pay-as-you-go plan, it’ll be hard to use this card without tripping over a fee. Each purchase costs $1.50, but the $9.95 monthly plan may save you money, depending on how often you use your card. The best move is to accept the reduced monthly plan as a Brink’s Preferred Benefit member, which requires $500 in qualifying direct deposits each month. This feature drops your monthly plan to $5 — a fee similar to other prepaid cards.

Unfortunately, the cast of fees that usually come with even the best prepaid cards will constantly nibble into your balance. There’s no upfront card purchase fee, but you’ll have to pay up to $3.95 just to reload your card’s cash balance. You’ll also experience a $3 over-the-counter (OTC) cash withdrawal fee at financial institutions like banks or a 2.75 percent fee of the total withdrawal at in-network reload locations (or $4, whichever is greater), only waiving the first withdrawal fee every month.

It’s hard to steer clear of these fees, especially considering the list of situational costs like a 4 percent foreign transaction fee, $5.95 90-day inactivity fee and even a $4.95 fee for a custom picture on your card. Unless you’re dedicated to a prepaid card, alternative options like one of the best checking accounts might be cheaper.

Besides its laundry list of fees, a few other key considerations deserve your attention before choosing the Brink’s Armored Prepaid.

But a debit card is an all-around better (and cheaper) starter card and there are a few checking accounts that reward spending like the Discover Cashback Debit Account. Furthermore, there are better prepaid cards that can truly help you establish financial security and provide avenues to graduate to products like the best secured credit cards.

In general, the Brink’s Armored Account may not have the best long-term value. Still, there are a few instances where this card can come in handy.

The Brink’s Prepaid is only worth it in very specific situations, like if you can’t open a traditional banking account. In those cases, the Brink’s Prepaid Mastercard is a solid prepaid credit card that offers a bit more flexibility than some competitors with its pay-as-you-go plan and $10 negative balance cushion. However, its rewards program is confusing, and, like most prepaid cards, it poses a few fee-harvesting traps. As such, your money may go a bit farther with a debit or credit card.