The Price of Unemployment
November 14, 2011 1:06 PM
California: Deposit Delays
Consumer advocates generally praise California's benefits card, issued by Bank of America. But the state does not offer direct deposit, meaning that non-B of A customers have to wait extra days to get their benefits. (Image: ThinkStock)
Colorado: Ten Cent Swipes
Colorado is the only state to charge unemployed people — 10 cents per swipe — every time they buy something with their benefits cards. The JPMorgan Chase-issued card "can be the most expensive of any state's," according to the NCLC. (Image: ThinkStock)
New Jersey: Free ATMs
New Jersey gets "two thumbs up" from the NCLC for its benefits card, also issued by B of A. Cardholders can even withdraw money from non-B of A ATMs for free twice a month. (Image: ThinkStock)
Tennessee: ATM Fees
Tennessee used to charge the most fees of any state for its card, issued by JPMorgan Chase. It now offers 2 free ATM withdrawals, and charges cardholders 40 cents for every additional ATM withdrawal. (Image: ThinkStock)
Arkansas: $20 Overdrafts
Arkansas is one of only five states that charges overdraft fees on its benefits cards, issued by U.S. Bancorp. The $20 charge is the highest benefits-card overdraft fee in the nation. (Image: ThinkStock)
Florida: Lots of Options
Florida issues a benefits card via Wells Fargo. The state also allows unemployed residents to receive benefits by paper check or direct deposit. (Image: ThinkStock)
Michigan: Teller Fees
Michigan lets its benefits recipients make two withdrawals monthly from a JPMorgan Chase branch. After that, beneficiaries pay $4 each time they withdraw money. (Image: ThinkStock)
Oklahoma: 'Too Many Fees'
Oklahoma's card, issued by Comerica, charges consumers several times over. The fees include 50 cents to check a card balance at an ATM, $2 every for out-of-network ATMs, and, 50 cents each time they call an automated customer service line after the first five monthly calls. (Image: ThinkStock)
