EDD switching banks for payments - got weird email notification
So I just got this strange notification from EDD about 'changing financial institutions' and thought it was a scam at first! Got totally freaked out because it didn't look like their usual emails. Turns out EDD is actually switching from Bank of America to another bank for their debit card/payment system. Has anyone else gotten this notification? I couldn't find anything on their website about it until I dug deeper. Is this legit? What do we need to do to make sure our payments don't get interrupted during this switch?
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Marcelle Drum
Yes, it's legitimate! EDD is switching from Bank of America to Money Network as their banking partner. They started sending out notifications about this transition last month. Your benefits won't be interrupted, but you will eventually receive a new debit card from Money Network that will replace your B of A card. Make sure your address is up to date in your UI Online account so you get the new card when they send it.
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Collins Angel
•Oh thank goodness! I was worried it was some kind of phishing scam. Do you know when they're sending out the new cards? I don't want to miss mine since I'm moving next month.
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Tate Jensen
got the same thing!! freaked me out 2. thought someone was trying to steal my info again lol
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Adaline Wong
•Can't blame you for being suspicious! So many scammers target EDD claimants these days. I almost deleted mine too until I called and confirmed it was real. The representative said they're sending these notifications in batches so not everyone gets them at once.
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Gabriel Ruiz
This is a legitimate change that's been in the works for a while. EDD posted information about the transition on their website under the "Latest News" section. The switch from Bank of America to Money Network will happen gradually throughout 2025. Your existing BofA card will continue to work until the transition date for your claim. Here's what you need to do: 1. Make sure your address is current in UI Online 2. Watch for the new Money Network card in the mail (plain envelope, easy to miss) 3. Activate your new card as soon as you receive it 4. If you use direct deposit, you'll need to re-enter your bank account information with the new system This is actually good news since many claimants had issues with the BofA cards. The new system should be more user-friendly.
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Misterclamation Skyblue
•finally! the BofA cards were TERRIBLE. my card got frozen 3 times for no reason last year. hoping money network has better customer service.
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Peyton Clarke
I heard about this from my neighbor who works for the state. Apparently the contract with Bank of America expired and Money Network won the bid for the new contract. I'm just wondering if they'll let us transfer balances from the old card to the new one automatically or if we have to do something? Anyone know?
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Marcelle Drum
•According to the EDD website, any remaining balance on your BofA card will automatically transfer to your new Money Network card when your account transitions. You don't need to do anything special for that to happen. But definitely keep both cards until you're sure everything transferred correctly.
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Vince Eh
is money network even a real bank?? never heard of them before. this sounds fishy to me.
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Gabriel Ruiz
•Money Network is a legitimate financial services provider that specializes in payroll cards and government benefits distribution. They're owned by Fiserv, which is a major financial technology company. They already handle payments for several other state benefit programs. Not as well-known as Bank of America, but definitely legitimate.
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Sophia Gabriel
I've been trying to reach EDD about this exact issue for three days! Their phone lines are constantly jammed - "we're experiencing higher than normal call volume" every single time I call. Wanted to verify if this was legit or if someone was trying to scam me. Finally got through using Claimyr (claimyr.com) - they helped me bypass the phone maze and get to a real person within 25 minutes. The rep confirmed this is a legitimate change and walked me through what to expect. If anyone needs to ask specific questions about how this affects their claim, I'd recommend checking out their demo: https://youtu.be/JmuwXR7HA10?si=TSwYbu_GOwYzt9km Definitely worth it for peace of mind rather than stressing for days wondering if that email was real!
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Collins Angel
•Thanks for the tip! I've been calling for two days and keep getting disconnected. Going to check this out because I have a couple more questions about what happens if I'm in the middle of receiving payments when they make the switch.
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Adaline Wong
I actually think this is great news! Bank of America has been TERRIBLE for EDD debit card holders. Remember back in 2021 when thousands of cards got drained by fraudsters and BofA refused to replace the money for months? They froze legitimate accounts constantly. My card got blocked three times last year and each time it took 10+ days to resolve. Good riddance!
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Misterclamation Skyblue
•omg yes!! happened to me too. took 6 weeks to get my money back after my card was skimmed at a gas station. BofA customer service kept saying it was EDD's problem, and EDD said it was BofA's problem.
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Tate Jensen
wait so do we have to do anything or just wait for the new card??
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Marcelle Drum
•Mostly just wait for the new card, but make sure your mailing address is current in your UI Online account. If you currently use direct deposit instead of the card, you'll need to set that up again with the new system when the transition happens for your claim.
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Collins Angel
Thanks everyone for the helpful responses! This community is amazing. I feel much better now knowing it's legitimate. I'll update my address in UI Online right away since I'm moving soon. Fingers crossed the new system works better than the old one!
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Gabriel Ruiz
•Glad we could help! Just make sure to watch your mail carefully for the new card - they often come in plain envelopes that can look like junk mail. The transition is supposed to be complete by June 2025, but different claimants will transition at different times depending on their claim status.
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