Feb 13, 2012 – Whether you already use a prepaid debit card, intend to get one or have given cards to your family, Valentine’s Day is the perfect time to check them out. There are web resources available for you to contrast and compare the many facets of prepaid cards. For those of you not sure where to start, here’s our take on three outstanding products available today.
One of our favorites at GetDebit.com is the American Express Prepaid Debit Card. The most significant aspect of this card is the amount of value you get for some of the lowest fees available. Unlike many prepaid cards, there are NO activation fees, No monthly fees and NO overdraft fees to use this product. You also can benefit from some of the great features that has made American Express popular in the credit markets like fraud protection, purchase protection and roadside assistance. Even though there is no FDIC account protection or internal bill payment feature, we think this card will make many consumers happy with the low fees.
Another prepaid favorite for entirely different reasons is the READYdebit prepaid card family. While not offering the lowest fee structure out there, READYdebit does offer cardholders a myriad of fantastic features and benefits you just can’t get everywhere. Included in some plans are FREE Online Bill Pay/Check Writing, FREE monthly fee with Direct Deposit ($1500), No Credit Check, No Overdraft Fees, Card-to-Card Money Transfer, FDIC Insurance, Visa Zero Liability Plan, Super Abundant Loading Sources and even a FREE Credit ScoreTracker for customers to track their credit scores. There are several plans to choose from, so if you don’t like the fees and features of one plan, you can always change to another.
The last prepaid card we would like to show you is the Western Union MoneyWise Prepaid MasterCard. This is another of example of outstanding value all wrapped up in a low-fee product. With a $0 Activation Fee, a $0 Monthly Fee, $0 Overdraft Fee, $0 Transaction Fees, $0 Customer Service Fees, FREE Online Bill Payment and No Credit Check required, this card is unbelievable. Also included is FDIC protection and great online account management features. There are a couple of fees that do need to be disclosed like an inactivity fee, an ATM fee and Western Union agent cash load fee. You can compare cards and fees here.
So, take your sweetheart out for Valentine’s Day using your own prepaid card, or get her or him one of their own. Always read the cardholder agreement no matter what financial instrument you choose to make sure it works right for you.