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The best prepaid cards are not only great budgeting tools, but they also provide a lot of other features and are relatively affordable. We considered several factors as we compiled our list, including fees, extra benefits, free reload options and ways to get money back.
We also wanted to highlight cards that go above and beyond the norm. The cards we chose have special features, like a high-rate savings account, compatibility with popular digital wallets or maybe a huge free ATM network.
A prepaid debit card is a means of payment. As with a traditional debit card, you can use a prepaid card to make purchases online and in-person wherever the card is accepted. Prepaid cards are typically issued on the same payment networks as regular debit and credit cards, including Visa, Mastercard, American Express, and Discover.
Many prepaid debit cards allow you to create sub-accounts, so you can provide cards to other members of your family, all of which are tied to the same main account. However, many prepaid cards charge a variety of fees, including monthly fees, transaction fees, reload fees, ATM fees, and others.
You might also consider a prepaid debit card if you need some help with your budgeting. If you want to limit how much you spend for a given period on certain expenses, you can transfer money to your prepaid debit card and only use that payment method for the expense category. Some prepaid cards even allow you to set up multiple cards for different budget categories.
All the benefits of Serve, plus FREE Cash Reloads at over 45,000 locations. Shop online with your Card virtually anywhere American Express Cards are accepted. No credit check, FREE to register online, FREE Online Bill Pay, and fraud protection.
Includes most Visa, Mastercard, and Discover cards. For most cards, pay with cash by 6 PM EST for your transaction to post the next business day, excluding weekends and holidays. Florida, Illinois, Minnesota, New Jersey, and West Virginia are excluded from Credit Card Bill Pay transactions. Credit card must be active. Other limits may apply.
Green Dot cards are issued by Green Dot Bank, Member FDIC, pursuant to a license from Visa U.S.A., Inc. Visa is a registered trademark of Visa International Service Association. And by Mastercard International Inc. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated. Green Dot Bank also operates under the following registered trade names: GO2bank, GoBank and Bonneville Bank. All of these registered trade names are used by, and refer to, a single FDIC-insured bank, Green Dot Bank. Deposits under any of these trade names are deposits with Green Dot Bank and are aggregated for deposit insurance coverage up to the allowable limits.
Like ATM fees Neither do we. Get our reloadable prepaid Mastercard and skip the ATM fees at participating 7-Eleven stores. Also use it to pay bills with ease, access your paychecks up to 2 days early and make a purchase anywhere Debit Mastercard is accepted.
Most prepaid cards will provide some services of a traditional checking account -- you can usually set up direct deposits, pay bills or deposit checks on your phone. Prepaid debit cards might have fees or limits on deposits and withdrawals. Be sure to carefully read the terms and conditions of any card before purchasing.
Prepaid debit cards come with a variety of fees that add to the cost. While many companies allow you to order a free card online, you can also purchase a card at a local retailer for anywhere between $1 and $6. Besides the cost of buying a card, most cards have a monthly fee that varies between $4 and $10 per month. Other fees include reload charges, which can cost as much as $6 per transaction and ATM withdrawals of $2.50 on average.
Millions of customers use gift cards to purchase gas, snacks and services at Chevron and Texaco stations in the United States and Caltex stations in the Asia-Pacific region. These prepaid cards make excellent business and personal gifts and are often used for incentives and promotional prizes.
One of the most popular gift options these days is prepaid cards. They're useful gifts for all ages, but especially for teens who are old enough to be responsible for how they spend their money. Sometimes, they're also a way for people to curb unhealthy spending behaviors because a prepaid card has a spending limit.
To get a prepaid card, you can simply pay cash or charge for one at the register of your local supermarket, pharmacy or department store. The cards are reloadable, but trying to reload using credit cards may affect rewards programs.
The most common reason people get prepaid cards, even when buying them as gifts, is to control spending. They are useful if your credit history doesn't allow you to get a regular credit card. With the popularity of online shopping platforms increasing, they are also a good way to shop with limited risk.
There's no approval process for a prepaid card. You're not required to have a bank account or good credit score. Prepaid cards are also great gifts for older teenagers and college students. They can be used to teach how to budget money because of the built-in spending limit. You'll commonly see prepaid cards given at weddings and birthday parties, a way to give the recipient the choice of what they'd like to buy for themselves.
A prepaid card makes a great gift and can be a useful financial tool. However, you'll need to be mindful that reloading prepaid cards with a credit card is not allowed by most credit card issuers; doing so tends to be interpreted as a misuse of the rewards program. Paying cash to load or reload a prepaid card is almost always an option, as is using a debit card.
A. Our Prepaid Reloadable Mastercard Debit Card can be purchased by any member of Liberty Federal Credit Union, age 18 or older. Secondary cardholders must be at least 13 years of age. The individual purchasing the Card is defined as the primary cardholder. The address listed for the primary cardholder must match the billing address for the debit/credit card used to purchase the Card. Personalized primary cardholders can order online up to four personalized secondary cards for family members or companions. When purchasing a secondary card for a young person with no card experience, be sure to go over all of the materials that accompany the card.
The Prepaid Reloadable Mastercard Debit Card is a reloadable stored-value card. It is neither a credit card, nor a NCUA insured deposit account. This card is issued by Liberty Federal Credit Union pursuant to a license from Mastercard U.S.A, Inc. Your Card allows you to access your prepaid funds at ATMs. You may also use your card at merchants who accept Mastercard debit cards worldwide. The card may not be used for recurring transactions, such as some subscriptions, or at some merchants, such a gambling establishment.
The maximum value credited to the Card on issue is limited to $1000 for Non-Personalized cards, $2500 for Personalized Cards, and no more than these amounts can be available for use on the Card at any one time.
You may request four additional Cards when you order your Card for any user you authorize which will have to be separately activated and which can be used in the same way as the Card at ATMs and merchants that accept Mastercard debit cards. You are responsible for all authorized transactions made with this additional Card. Only the primary cardholder can load funds to the account.
Your Card will expire on the date embossed on the front of the Card. If your account is a personalized account, is in good standing, has had activity within the last 180 days, and you are still a member in good standing of Liberty FCU, the reloadable account will automatically reissue. Non-Personalized accounts will not reissue at expiration.
You can review your Card balance and the last 5 transactions activity records by calling toll-free 1-866-760-3156 or by visiting www.libertyfcu.org/prepaid where full details of all transactions are available free of charge.
The Mastercard Student Relationship Prepaid Card is a prepaid, reloadable stored-value card. It is neither a credit card, nor a NCUA insured deposit account. This card is issued by Liberty Federal Credit Union; pursuant to a license from Mastercard U.S.A, Inc. Your Card allows you to access your prepaid funds at ATMs. You may also use your card at merchants who accept Mastercard debit cards worldwide. The card may not be used for recurring transactions, such as some subscriptions, or at some merchants, such as gambling establishments.
You can review your Card balance and the last 5 transactions activity records by calling toll-free 1-866-901-8090 or by visiting www.libertyfcu.org/prepaid where full details of all transactions are available free of charge.
Ally is an online bank. While the cards and accounts offered from Ally are not strictly speaking the same as the prepaid travel cards featured elsewhere on this list, you could open and use an Ally account in a similar way.
There are many prepaid card options out there from banks and online providers. Because Visa and MasterCard are among the most commonly accepted card networks outside of the US, many travel cards are issued on these networks to increase coverage.
If you have a limited credit history or a low credit score, getting approved for a credit card can be challenging. As a result, you might be considering a secured credit card or a prepaid card as a way to pay. Both cards are a good option for making secure, convenient payments, and both require you to deposit funds to start using the card. But their similarities just about end there. 59ce067264