There is no doubt that using prepaid debit cards recklessly can result in some costly fees like any financial instrument including credit cards, checking accounts and even home loans. Thousands of people in the U.S. have been enlightened to the high costs of check cashing and payday loan services and are moving toward the prepaid market. When researching prepaid cards, be cautious as not all cards are created equal.
Many prepaid products come with some powerful features and those cards typically cost more to use. There are some great prepaid cards available that have some excellent features and low fees as well. Take some time and check them out:
- AccountNow MasterCard – $0 Activation Fee, $0 Monthly Fee (w/direct deposit), $0 Signature and PIN Purchase Fees, $0 Bill Pay Fee.
- Green Dot Gold Visa – $0 Activation Fee, $0 Monthly Fee (w/direct deposit or $5.95 reimbursed with $1000 monthly load or 30 purchases), $0 ATM Fees (at participating locations).
- Mango MasterCard – $0 Activation Fee, $0 Monthly Fee (w/direct deposit or $5 reimbursed w/$500 monthly load), $0 Signature and PIN Purchase Fees.
- Walmart MoneyCard Visa – $3 Activation/Initial Load Fee (at Walmart stores), $0 Monthly Fee (w/direct deposit), $0 for Additional Student/Family MoneyCards.
- PayPower Visa – $0 Activation/Online Purchase Fee, $0 Signature and PIN Purchase Fees, $0 Bill Pay Fee, $0 Card-to-Card Transaction Fee, $0 Card Reissue Fee.
We must take a moment to warn you that this is not an all-inclusive list of fees for each card, but competitively speaking, these cards rate high in our opinion. To select the best card for your needs it is always advantageous to scan prepaid resources, as well as read each product’s terms and card holder agreement. Have a happy and safe Thanksgiving!