My work offers this but I’m a bit embarrassed to ask HR, is this is just pre tax money on a card for transit? Can I buy a metro card or just use the card they give me?
In: Economics
From my personal experience:
At first the company would just send you monthly cards for your transit service of choice. Which was a problem for me because the cards were not recoverable, or they got mailed late and I often lose shit like that. So one late or lost monthly card per year = I end up paying more than I saved in tax for the whole year. With a transit card I buy myself I can always claim the card as lost and get a replacement card for the balance of the month at no cost.
Now the company gives you a debit account and mails you a debit card which is a new account and log in and website that’s all different from your other benefits, FSA, etc., even if the debit ‘bank’ is the same as other accounts you have nothing gets linked so I hope you write this all down.
You can use the debit card to buy tickets at machines or via ticketing apps for transit and it works pretty easily. You can’t use for transit related things like parking, that would be yet another account with yet another card and yet another log in.
Finally, you have a little past the year end to use the account or you lose it. So come mid-December (assume your benefits follow the calendar year) if you have money left it looks like everyone is getting $20 metrocards in their stockings!
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