Parents can also control whether their child can use the card at an ATM. She travels to Africa and the Middle East regularly to consult with women's NGOs about small business development. Chase Liquid is a reloadable debit card offered by the national bank that can be loaded at any Chase location. Charges a monthly plan fee of $4.95. The Netspend Prepaid Card boasts an impressive network of more than 130,000 locations nationwide for cash reloads. Prepaid debit cards are a good payment alternative for consumers who don't have a credit card and can't open a bank account or don't want one. No purchase fee. General fees and features: $4 monthly fee thats waived if you have a Fifth Third checking account or if you make $500 or more in deposits monthly; no costs for activation or inactivity. If you live within Regions Banks service area and plan to use your prepaid debit card frequently, the Now Card could be an affordable option. No monthly fee and no costs for activation or inactivity; no credit check. Fifth Third Access 360 Reloadable Prepaid Card: Best for ATM withdrawals. Card must be linked to PayPal account. $2.50 to $4.33 if prepaid; $5.99 if billed. A prepaid card works like a debit card, but a prepaid card isnt connected to a checking or savings account. Manage your money from your mobile device through the app. Start by considering the costs associated with each prepaid debit cardsuch as monthly maintenance, ATM, foreign transaction and cash reload fees. After that, the fee is just $4.99 per month for a family with up to five children. You can't redeem the rewards as actual cash during ATM withdrawals, but you can apply your cash-back balance to your next in-store or online purchase. The one drawback to this card is that there are no free ATM withdrawalsthey cost $2.50 each. Prepaid debit cards that we considered included: Note that a Chime Checking Account is required to open a savings account. The funds you add to the card are available right away for spending. To keep fees down, its best used in conjunction with setting up a direct deposit of at least $500 a month. ConsumerAffairs.com makes no representation as to the accuracy of the information provided and assumes no liability for any damages or loss arising from its use. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities. ", Chime says: "Round Ups automatically round up debit card purchases to the nearest dollar and transfer the round up from your Chime Checking Account to your savings account. Some banks and credit unions also issue prepaid cards. Still, there are many prepaid debit cards that charge outrageous fees, offer limited benefits, or both. The Bluebird by American Express is one of the few prepaid debit cards on the market that charges no monthly fees or transaction fees, making using the card simple. Earn up to $75 cash back each year at Walmart. See our list of the best savings accounts. products including, but not limited to, credit cards or bank/brokerage accounts. Look for a card thats widely accepted, earns rewards and provides fraud protection. Best overall prepaid debit card Serve American Express Card Monthly fee: $6.95 ATM Fee: Free at MoneyPass ATMs or $2.50 elsewhere Reload fee: $0 Cash reload limits: $20 to $500 Other. Credit card reviews and listings The key is to find low fee or even free prepaid debit cards that offer the features and benefits you need. Using Cash Credit Cards To Hide Cash From Creditors. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. We'd love to hear from you, please enter your comments. Check out NerdWallets best free checking accounts. The American Express Serve card is a reloadable prepaid debit card that functions similarly to a basic debit card tied to a checking account at a traditional bank. Chime has two automatic savings programs: one where a percentage of every paycheck automatically goes into the savings account and the other where your purchases are rounded up to the nearest dollar and the rounded-up change goes to savings (see below for more information from Chime). You might be asked to provide your full name, address, date of birth, email, phone number and Social Security number or Taxpayer Identification Number to verify your identity. If youd prefer not to pay for purchases with cash, credit cards or funds in your checking account, give prepaid debit cards a try. Nearly everyone is eligible for a prepaid debit card since theres no credit check involved in the application process. Prepaid debit cards can make it easier to control your spending and stay out of credit card debt, but steep fees can erode their benefits. Cardholders earn rewards when they shop at Walmart stores. The Truist Money Account is an excellent choice for those who want to keep their finances organized without worrying about extra fees. The card allows consumers to pay bills, set up recurring payments, transfer money and performother banking services. Four cards are free on the monthly plan, but more can be added for a one-time $3 fee per card. Service fees vary by card, so you should check the list of fees associated with different types of transactions before you activate a new prepaid debit card. His work has been featured by USA Today and the Los Angeles Times. Besides Bankrate.com, her work has been featured in Business Jet Traveler, MSN, CheatSheet.com, Freshome.com and SimpleDollar.com. Its one of the best free prepaid debit cards available today. Jamela Adam is a personal finance writer covering topics such as savings, investing, mortgages, student loans, and more. Our insurance content may include references to or advertisements by our corporate affiliate HomeInsurance.com LLC, a licensed insurance producer (NPN: 8781838). Generally, yes. But generally, the options include adding cash at a retail register (often for a fee), adding funds by using an app to make a mobile check deposit, and by direct deposit, card-to-card transfer and bank transfer. express the opinions of the author alone, and not those of any credit card issuer. Finally, get paid up to 2 days faster with direct deposit. Cardholders can load cash onto a prepaid card at retail stores for a fee. Vanilla Prepaid Cards are simple prepaid cards you can use anywhere Mastercard or Visa is accepted. Written by: Eric Bank Edited by: Lillian Guevara-Castro Reviewed by: Ashley Dull February 27, 2023 . To help you sift through the options, weve compiled our top picks of the best reloadable prepaid debit cards. If you buy the card online, you may be issued a virtual card or receive a physical card in the mail at a later time. Each debit card you create has its own unique account number. Plus, you don't have to worry about overdraft fees, since your spending cannot exceed the available balance on your card. Reload card with direct deposit, a mobile check, reload locations or funds transfer. See our criteria for evaluating banks and credit unions. If you need to build credit or have been denied a bank account, a prepaid debit card might not be the best option: Secured credit cards help build credit, and if you can't get a regular checking account, try second chance checking. How To Find The Cheapest Travel Insurance. Banking services and debit card provided by The Bancorp Bank, N.A. To create this list, Forbes Advisor analyzed 34 prepaid cards from 28 providers, including a mix of traditional brick-and-mortar banks, online banks, credit unions and fintech companies. And parents and teens can receive text alerts when certain transactions occur. Prepaid reloadable debit cards, sometimes called prepaid credit cards, offer an alternative to both credit cards and bank accounts. Unlike with a credit card, you load funds onto prepaid cards before use. Offers business and personal gift cards from $25 to $3,000. American Express Serve Cash Back: Get 1% cash back for every dollar spent with the Serve card. Netspend has more than 70,000 distribution locations and 130,000 places to reload cards. There are no costs for activation or inactivity. You can also easily transfer funds to friends and family members who have a Movo account. Load money on the card that you can then spend. Monthly fee:$4.95ATM Fee:Balance inquiries are $0.50, withdrawals are $2.50 eachReload fee:Up to $3.95Cash reload limits: Up to $500Other fees:Card is free if you order online or up to $4.95 at participating retailersReload locations:Over 130,000Welcome bonus:Refer a friend and you'll each receive $20Welcome bonus value:$40. For features, we looked at each cards money management tools, mobile apps, and customer service. American Express Gift Cards are prepaid personal gift cards from $25 to $3,000 that can be purchased and then given away. Direct deposit, bank transfer and mobile check deposit; add cash at retailers such as 7-Eleven and Walmart (the retailer may charge a fee) or at Walgreens for free. You'll receive a Mastercard number you can add to your digital wallet to make payments and deposits through the mobile app. . Your potential liability is capped at $50 if you give timely notice that your card has been lost or stolen. Here is a list of our partners and here's how we make money. However, all CNET editorial content is independently researched and developed without regard to our corporate relationship to HomeInsurance.com LLC or its advertiser relationships. Generally, yes. Everything else about the prepaid card is fairly standard. This card is available in the 11 states where there are Fifth Third branches, which is the only place you can get the card. This prepaid, reloadable card is family-friendly. Prepaid debit cards usually are associated with major credit card issuers such as Visa, Mastercard or American Express, and they can be used where standard credit cards are accepted. Skip ahead to read about these low-fee alternatives. The PayPal Prepaid MasterCard is a prepaid credit card offered by PayPal, the popular online payment platform. Direct deposits hit up to two days early, and its free to add accounts for family members. We do not transact in the business of insurance in any manner, and we are not attempting to sell insurance or asking or urging you to apply for a particular kind of insurance from a particular company. In addition, some prepaid cards will waive some or all of the monthly fee if you load a certain amount of money on the card via direct deposit. (888) 915-1973. These cards are accepted almost everywhere, and they let you avoid overdrafts and the hassle of carrying cash. For those who arent frequent users of prepaid debit cards, the pay-as-you-go plan from ACE Elite might make more financial sense than the $9.95 flat-fee plan. 8. RushCard is a prepaid Visa card that lets consumers load their own money onto the card. All of our top picks are authorized by ConsumerAffairs. For many of these products and services, we earn a commission. Best for no monthly fees: Bluebird American Express Prepaid Debit Account Heres why: A lot of prepaid cards charge various fees. When you use your card for purchases, Extra spots you the money. However, not all debt collectors follow these rules, so it's best to avoid postdated checks. Monthly fee:$0ATM Fee:$2Reload fee:NoneCash reload limits:Two deposits per day (up to $4,000) and no more than four deposits per rolling 30-day period (up to $8,000)Other fees:Order a physical Cash Card for $2.95Reload locations:3.5 million in-network ATMs; participating retailers. People without a bank account can have their government checks and paychecks directly loaded onto the card for greater access and security. The scoring formulas take into account multiple data points for each financial product and service. Cash withdrawal and third-party fees may apply. Prepaid cards are sold at retail stores (usually for a fee) and some can be ordered online. See our criteria for. Its not a prepaid card, its better. Once you open and fund your account, you can then create virtual debit cards in an amount that you choose. No credit check. Direct deposit, debit card transfer, bank transfer. Want to build your savings faster? Cynthia splits her time between Los Angeles, CA and San Sebastian, Spain. The cards that made this list had the best combination of these categories. Funds never expire. But prepaid cards come with a number of fees you should keep your eye on, such as a monthly or reload fee. Offers a convenient way to receive federal benefit funds. The editorial content on this page is based solely on objective, independent assessments by our writers and is not influenced by advertising or partnerships. She has written and edited content on personal finance topics for more than five years. Utilize card payments without needing to connect your bank account. Green Dot is a prepaid and reloadable debit card company that allows customers to pay rent and send out other payments. 1. This control over your finances helps you manage your spending and offers you peace of mind. Ink Business Unlimited, Chase Sapphire Preferred vs. Here are two links with Walgreen's and Walmart that show how to get a prepaid debit card and explains in detail how they work: Walgreens Reloadable Debit Cards. You can also receive instant transaction alerts and lock your debit card if you lose it. When evaluating offers, please review the financial institutions Terms and Conditions. Use anywhere in the United States that accepts Visa. You can purchase and fund Green Dot prepaid debit cards at Walgreens and Rite Aid stores. approved or otherwise endorsed by the credit card advertisers. However, we may receive compensation when you click on links to products or services offered by our partners. Payments can be split across multiple accounts. Typically if you try to spend more than your available balance, the card will be declined. Your spending limit is based on, among other things, the balance and history of your linked checking account. A prepaid card can be especially helpful if you've struggled in the past with overdrafted accounts or have a low credit score. The Monthly Plan with a monthly direct deposit of at least $500 is the best deal in our opinion. People trying to avoid judgment creditors often try to convert assets to cash and plan to hide the cash from discovery. Unlimited cash back account earns 3% cash back plus 3% APY for savings. American Express Serve FREE Reloads - Best for Cash Users. Some require photo identification and charge an activation fee up to $10 for loading the initial funds onto the card. Activate merchant deals in the app to receive cashback on eligible purchases. Prepaid debit cards are a good alternative to a traditional checking account. Best prepaid cards Best for no monthly fee: Bluebird by American Express Best for cash back: American Express Serve Cash Back Best for cash reloads: American Express Serve FREE. Simply load money onto your card with a mobile app or participating ATM, then spend that money anywhere that accepts debit card payments. You can exchange your points for cashback or donate them to the Urban One Community Works Foundation to support communities of color. Banking Content Disclosure: Content is not provided or commissioned by the bank advertiser(s). Her work has been featured by Nasdaq, MSN, TheStreet and Yahoo Finance. Prepaid debit cards are issued by banks and usually have a Visa, Mastercard, Discover or American Express logo on them. A prepaid card functions similarly to a debit card. Learn more about how prepaid debit cards work. 2% APY with savings up to $1,000. Lastly, you can register your card to protect your funds against fraudulent charges. Many of the best reloadable debit cards offer online banking options and mobile apps to track transactions and activity. Parents can lock and unlock accounts. 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