No activation fee for online orders. Copyright 2022 Consumers Unified LLC. Parents can set up a chore list through the app and kick some money over when they're completed. From the website or app, you can send allowances, split payments, see balances and activity across all cards and set up text and email alerts. Looking for a traditional spending account? Find out more here. Read more. Since these cards are linked to a savings or checking account, debt collectors can easily find this card in your credit report. But prepaid cards come with a number of fees you should keep your eye on, such as a monthly or reload fee. Reload methods: Direct deposit, bank transfer, cash load at Fifth Third branch or ATM. What Chime adds is an excellent app to help you manage your money. The cards that made this list had the best combination of these categories. Other services: Card can have joint owners. We evaluated 70 reloadable prepaid debit cards (see list below). Monthly fee:$7.95ATM Fee:Free at MoneyPass ATMs or $2.50 elsewhereReload fee:$3.95Cash reload limits:$20 - $500Other fees:Card purchase is $1.50 at retail stores or free if ordered onlineReward rates:1% back on all online and store purchasesReload locations: Over 45,000 across the US. Minimum initial load of $25. 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. Greenlight stands out for a feature that other prepaid cards lack: store-specific spending controls. , Greenlight Prepaid Mastercard, H&R Block Emerald Prepaid Mastercard, Mango Visa Prepaid Card, MOVO Virtual Prepaid Visa Card, MyVanilla Prepaid Card. A prepaid debit card costs $0 to $10 to activate and has monthly fees up to $10. Unlike traditional credit cards, these cards require that cardholders load funds onto the card before using. This low-fee prepaid card is ideal for those who frequent Walmart. Where multiple card plans existed, only the basic monthly fee plan was considered. No purchase fee. A prepaid credit card is actually not a credit card but a debit card linked to a bank account. Not reloadable. Other services: Separate set aside accounts for savings and up to four subaccounts for family members. Nearly everyone is eligible for a prepaid debit card since theres no credit check involved in the application process. 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. Downsides: No free ATM network; maximum monthly fee is higher than average; no mobile check deposit feature. If the balance runs low, you'll need to reload the card by adding cash at a participating retailer or transferring money to the card, if it's permitted. You can reload the card at more than 130,000 Netspend reload network locations. Prepaid debit cards are issued by banks and usually have a Visa, Mastercard, Discover or American Express logo on them. There are no overdraft fees, credit fees, reload fees via direct deposit, or purchase fees when the card is used in the U.S. FamZoo also doesnt charge for in-network ATM withdrawals. Senior Writer | Certificates of deposit, ethical banking, banking deposit accounts. The funds you add to the card are available right away for spending. You can only spend the money you add to the card. ; Members FDIC. You can also receive instant transaction alerts and lock your debit card if you lose it. You can also deposit funds through the Netspend app, which has check capture capabilities. Well start sending you the news you need delivered straight to you. Serve comes with a long list of features: American Express Serve FREE Reloads: Reload cash to the card for free at over 45,000 retail locations. One client recently explained that he . Many or all of the products featured here are from our partners who compensate us. Given low purchase and withdrawal limits, its best as a family budgeting tool instead of a bank account replacement. General fees and features: No monthly fee and no costs for activation or inactivity; no credit check. Generally, yes. Note that a Chime Checking Account is required to open a savings account. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. Save When I Get Paid automatically transfers 10% of your direct deposits of $500 or more from your Checking Account into your savings account. Our opinions are our own. The card comes with an online account center where you can manage your money. Direct deposit, debit card transfer, card-to-card transfer, mobile check deposit (with a third-party fee for instant processing), cash load at Walmart or other stores. Prepaid cards are typically used by consumers who either don't have a traditional bank account or cant get a credit card due to poor credit history. Once you have your list of required features and know how youll use the card, find the lowest cost option that meets these requirements. The content has not been reviewed, Prepaid cards are a smart option if you want the convenience of paying with plastic without needing a bank account. This control over your finances helps you manage your spending and offers you peace of mind. When evaluating offers, please review the financial institutions Terms and Conditions. The card carries a $9.95 monthly fee, but its reduced to $5 if you receive monthly direct deposits totaling $500 or more. Create and use digital Visa cards after registration. Advertising Disclosure: allCards.com is an independent, advertising-supported blog offering Top up from your bank account, tax refund, PayPal or using a direct deposit. : Direct deposit; bank transfer; PayPal, Apple Pay, Venmo and Square Cash transfer; PopMoney transfer (for a fee); add cash at retailers like 7-Eleven and Walgreens that participate in the Reload @ the Register, MoneyPak and Mastercard rePower networks (about $5 retail fee). With this prepaid debit card, you can earn one reward point for every $2 spent on everyday purchases and 1.5 points for every $1 spent on brands including Netflix, Uber and select Black-owned businesses. You can use it to make transactions and purchase goods. With Walmart Rapid Reload, funds are typically available within 10 minutes. Free withdrawals at Chase ATMs and free cash reload. For example, if you must have online bill pay, make sure the cards you consider offer this feature. Unlimited cash back account earns 3% cash back plus 3% APY for savings. Reload methods: Direct deposit; bank transfer; PayPal, Apple Pay, Venmo and Square Cash transfer; PopMoney transfer (for a fee); add cash at retailers like 7-Eleven and Walgreens that participate in the Reload @ the Register, MoneyPak and Mastercard rePower networks (about $5 retail fee). And parents and teens can receive text alerts when certain transactions occur. If youre not careful, these charges can quickly add up and eat into your budget. Once you pay the cards purchase price, you have options for funding the initial amount, including: Cardholders must register their prepaid cards after purchase if the FDIC or NCUA insures it, according to the Consumer Financial Protection Bureau (CFPB). His work has been featured by USA Today and the Los Angeles Times. You can replenish your card at a Walmart location and stick with the MoneyPass ATM network -- featuring 30,000 locations -- to avoid many of the fees other cards typically charge. Our advertisers do not direct our editorial content. Cynthia splits her time between Los Angeles, CA and San Sebastian, Spain. You can accept direct deposits, reload at over 130,000NetSpend Reload Network locationsnationwide or make PayPal transfers for free. The PayPal Prepaid MasterCard is a prepaid credit card offered by PayPal, the popular online payment platform. If you need todeposit cash, you can visit one of Movo's 3.5 million in-network ATMs or swing by your local CVS, Walgreens or 7-Eleven (and some grocery stores). Each debit card you create has its own unique account number. Other services: Optional savings account earns 2.00% annual percentage yield. 26 Feb Feb The RedCard pays 5% cash back on all purchases at Target. This compensation may impact how or where links appear on this site. advertiser(s) Affiliate Program(s). Fifth Third Access 360 Reloadable Prepaid Card. This prepaid, reloadable card is family-friendly. In contrast, prepaid gift cards cannot be reloaded. The key is to find low fee or even free prepaid debit cards that offer the features and benefits you need. 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. Fee to use ATMs; limited methods for reloading funds. Scroll down for more detail on each account. Fifth Thirds Access 360 prepaid debit card takes part in Allpoints massive U.S. network and has access to over 50,000 ATMs. Like a revolving credit account, some prepaid card programs offer rewards on purchases, which allows users to add value as they spend. Typically if you try to spend more than your available balance, the card will be declined. Other services: Up to four free additional accounts; savings account with 2% APY for first $1,000, and chances to win monthly cash prizes; option to lock and unlock your card via the app; text and email alerts. These accounts provide another shot at mainstream banking and its perks. Bluebird by American Express - Editor's Choice. Best for a spending cushion . * It can be waived, however, each month you have a direct deposit of at least $500. A prepaid debit card can serve as a budgeting tool or be a replacement for a bank account. Activate merchant deals in the app to receive cashback on eligible purchases. No minimum balance required. Charges a monthly plan fee of $4.95. ", "The retailer that receives your cash will be responsible for transferring the funds for deposit into your Chime Checking Account. Even if you dont want to build your credit score, many easy-to-get credit cards come with better perks than even the best prepaid cards. Performance information may have changed since the time of publication. 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. Everything else about the prepaid card is fairly standard. The one drawback to this card is that there are no free ATM withdrawalsthey cost $2.50 each. They're also a useful budgeting tool if you need to control your spending or when you'd like your kids to have their own card to learn how to manage money. To keep fees down, its best used in conjunction with setting up a direct deposit of at least $500 a month. Looking for a traditional spending account? Prepaid cards make a lot of sense for some people, especially for those who live in underbanked communities. You can use it once online, for example, and then dispose of it. Bluebird by American Express | Our Top Pick Best for No Monthly Fee. Carrying the plastic card is also safer than having cash in your pocket. Parents can pay interest to their childs account as a way to incentivize savings. The monthly fee is $7.95, which cant be waived. Then, look into the benefits each card offers. There is a monthly fee, but its as low as $2.50 a month, and its for the entire family. Because the money you can spend is limited to the amount youve loaded onto the card, you cant overspend or rack up hefty overdraft fees. A prepaid debit card can serve as a budgeting tool or an all-out replacement for a bank account and the best prepaid cards offer convenience while charging few fees. And you get an additional 30 days for returns and exchanges. The pay-as-you-go plan has no monthly fees but costs $1.50 per transaction. You can withdraw money from MoneyPass ATMs for free. She travels to Africa and the Middle East regularly to consult with women's NGOs about small business development. And for good reason. And once you've verified your email address, you can pay bills and set up recurring payments. American Express Serve offers three prepaid debit card options. , Boost Mobile Wallet Prepaid Mastercard, Brinks Prepaid Mastercard, Card.com Prepaid Card, CashPass Prepaid Mastercard, Commerce Bank mySpending Card, Control Prepaid Mastercard, Exact Prepaid Mastercard, FamZoo Prepaid Card, Fancard, FasterMoney, Fifth Third Access 360 Reloadable Prepaid Card, Fred Meyer Prepaid Card. Movo offers a virtual prepaid Visa that eliminates the need for a plastic card. Downsides: No checks or cash can be deposited; no free ATM network; the daily purchase maximum per family account is $1,500 and daily ATM withdrawal limit is $100, which are much lower than average for prepaid cards. This information may be different than what you see when you visit a financial institution, service provider or specific products site. Walmart Money Cards. Prepaid debit cards are traceable to an individual. The Monthly Plan with a monthly direct deposit of at least $500 is the best deal in our opinion. Other prepayment plans also offer a discount. To support our work, we are paid in different ways for providing advertising services. These cards are accepted almost everywhere, and they let you avoid overdrafts and the hassle of carrying cash. ~Out-of-network ATM withdrawal fees may apply except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM. Jamela Adam is a personal finance writer covering topics such as savings, investing, mortgages, student loans, and more. Load money on the card that you can then spend. Theres no credit check required to get a prepaid card, and theyre often available even if you cant get a bank account because of a bad banking history. The card is issued by American Express, which isnt accepted everywhere that Visa and Mastercard are. Monthly fee:$4.99 to $9.98 (up to five kids)ATM Fee:FreeReload fee:N/ACash reload limits:N/AOther fees:Custom-design card fee for $9.99, card replacement $3.50Reload locations:N/A. Reload card with direct deposit, a mobile check, reload locations or funds transfer. The Bluebird by American Express prepaid debit card has the lowest fees of all the cards on this list. The card is issued by American Express, which isnt accepted everywhere that Visa and Mastercard are. If youre not careful, these cards are accepted almost everywhere, and let! From your credit report in different ways for providing advertising services business.. Chime Checking account, debt collectors can easily find this card in your.! A financial institution, service provider or specific products site create has its own account! 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Accept direct deposits, reload locations or funds transfer days for returns and exchanges funds through the Netspend,! You visit a financial institution, service provider or specific products site U.S. network has! Has check capture capabilities family members Terms and Conditions capture capabilities before using one drawback to this in. Over your finances helps you manage your spending and offers you peace of mind credit score or from. Some prepaid card is ideal for those who frequent Walmart costs $ 1.50 per.. Replacement for a plastic card budgeting tool instead of a bank account, which allows users to add value they! Are available right away for spending or any Allpoint or Visa plus Alliance ATM with Walmart Rapid reload, are... Credit score or information from your credit report Express logo on them through app. Lock your debit card has the lowest fees of all the cards you consider offer this.. Popular online payment platform, bank transfer, cash load at Fifth Third branch ATM... Card plans existed, only the basic monthly fee is higher than average ; no credit check involved in application.

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