Other services: Up to 5 subaccounts, no international ATM withdrawal fee. Unsubscribe easily. Please try again later. *Please see site for full terms and conditions. You can find more details of this new rule here. Charges a $4.95 monthly fee. Since these cards are linked to a savings or checking account, debt collectors can easily find this card in your credit report. We constantly monitor our competition, user activity, and journalistic awards. Netspend has more than 70,000 distribution locations and 130,000 places to reload cards. Keep in mind, however, that the Target RedCard can only be used at Target stores and Target online. We promise to publish credible information we have as soon as we have it, throughout a product's life cycle, from its first public announcement to any potential recall or emergence of a competing device. Walmart MoneyCard - Best for Walmart Shoppers. To help support our reporting work, and to continue our ability to provide this content for free to our readers, we receive compensation from the companies that advertise on the Forbes Advisor site. 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. Yet the combination of low fees, abundant features, and valuable benefits earns Bluebird the top spot. Yuliya Goldshteyn is a banking editor at NerdWallet. Our content is intended to be used for general information purposes only. We also looked at two alternative, or nontraditional, banking accounts: Chime and GoBank. A prepaid debit card for international travel also lets consumers make more secure purchases when spending abroad. General fees and features: You can prepay $59.99 for two years of FamZoo that works out to $2.50 per month. Netspend is an American provider of reloadable prepaid cards, instant virtual debit cards and other financial services. Load money on the card that you can then spend. Prepaid debit cards that we considered included: 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. Check your account balance, review transactions and load checks through the app. He is a former litigation attorney in the securities field and the Founding Editor of Forbes Advisor. There are several ways to do so. Yes, you can pay your credit card bill with a prepaid card. And once you've verified your email address, you can pay bills and set up recurring payments. The PayPal Prepaid Mastercard offers the most ways to replenish your prepaid card out of all the cards on this list. One of the biggest free ATM networks among prepaid cards. Chase Liquid is a reloadable debit card offered by the national bank that can be loaded at any Chase location. Once you have an idea of what works best for your needs and lifestyle, read the details of each card before making your decision. Any opinions, analyses, reviews, or recommendations expressed in editorial content are those of the authors alone, and have not been reviewed, approved, or otherwise endorsed by the advertiser. Some companies also offer mobile-optimized banking accounts that dont require a squeaky-clean banking or credit history and they often cost less than prepaid cards. View NerdWallet's picks for the best checking accounts. Multiple accounts under one plan, free and instant FamZoo card-to-card transfers, ability to lock and unlock FamZoo cards, budgeting tools. Prepaid cards and reloadable debit cards dont build credit, but some earn rewards and come with other benefits, such as fraud protection and online debit card banking services. So why does it make our list of prepaid card alternatives? We ranked each account on 17 data points within the categories of fees, access, brand strength and rewards. 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. You can set and track savings goals. What Chime adds is an excellent app to help you manage your money. She is based in Portland, Oregon. , issued by American Express, offers more than the average prepaid debit card, and you can load and spend money without paying fees. All you need to do is provide basic information, such as your name, address and Social Security number, then add funds to the card of your choice to start using it. Offers business and personal gift cards from $25 to $3,000. Our advertisers do not direct our editorial content. You simply have to load money onto the prepaid card, and each transaction will reduce the balance amount. Disclaimer: NerdWallet strives to keep its information accurate and up to date. Instead, it functions like a gift card because you can only spend the money already loaded onto it. Her work has been featured by Nasdaq, MSN, TheStreet and Yahoo Finance. You can even add cash for free at most Walmart stores. Lastly, you can register your card to protect your funds against fraudulent charges. 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 dont need a bank account to get a prepaid debit card, but its a requirement for a regular debit card, which is linked to your checking account. You can also take advantage of PayPal Payback Rewards and earn on qualifying purchases from select merchants. Earn cash back through the PayPal rewards program. Instead, Extra pulls the money you spent from your bank account the next business day. Funds transfer instantly, in case your kids are out with friends and need money in a pinch. ", "Save When I Get Paid automatically transfers 10% of your direct deposits of $500 or more from your Checking Account into your savings account. 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. Funds never expire. Prepaid card vs. debit cards. Our list of the best prepaid debit cards should satisfy just about any financial situation. Charges a $1.95 domestic ATM cash withdrawal fee. If you dont prepay, the fee is $5.99 for a monthly subscription. Why trust NerdWallet: Our writers and editors follow strict editorial guidelines to make sure our coverage is fair and accurate, so you can choose the financial accounts that work best for you. Here is a list of our partners and here's how we make money. Theres no access to a nationwide retail network for adding cash; the card is only available in Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina, Ohio, South Carolina, Tennessee and West Virginia; and the card doesnt have a separate savings feature. In a digital world, information only matters if it's timely, relevant, and credible. Well start sending you the news you need delivered straight to you. But you're the final judge. Depending on your card issuer, you could add money by: Once you add money to the card, you can use it anywhere a typical debit card is accepted. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. Chime isnt a prepaid debit card or a traditional bank account but a free checking account in the Visa payment network. All prepaid debit cards have some type of fee. Some cards are free to acquire, but some have an initial purchase price or activation fee. She has over a decade of experience writing and editing for consumer websites. Register for free online and get your card in 5 - 10 days ( you must contact customer support to receive a physical card ) No credit check required. Skip ahead to read about these low-fee alternatives. Sells prepaid cards and gift cards. Pre-qualified offers are not binding. NerdWallet strives to keep its information accurate and up to date. The Walmart MoneyCard pays 3% cash back on purchases from walmart.com, 2% cash back Walmart fuel stations, and 1% cash back at Walmart stores, up to $75 a year in rewards.. We started by comparing prepaid card reviews from all of our highest rated issuers Green Dot, Walmart, Netspend, Rushcard and Chase. Read more. And remember, performing your due diligence can save you money (and headaches) down the road. Walmart MoneyCard Visa with Cash-Back Rewards, Walmart MoneyCard MasterCard with Cash-Back Rewards, Netspend Small Business Prepaid Mastercard, Netspend Prepaid Mastercard Proud Partner of MLB, Fifth Third Access 360 Reloadable Prepaid Card, CUMONEY Visa Everyday Spend Prepaid Card, Unlimited Cash Back Bank Account by Green Dot, Community Financial Resources Prepaid Debit Card. Track transactions 24/7 with mobile app. She has written and edited content on personal finance topics for more than five years. Monthly fee:$0ATM Fee:Free in-network,$2.50elsewhereReload fee:Free at Walmart, $3.95 at participating retailersCash reload limits:$20 to $1,999 once your card is activated; $1 to $500 for temporary cardsOther fees:No account inactivity or card replacement feesReload locations: Over 30,000. Best Savings Accounts For Digital Banking, ATM Withdrawal Limits: What You Need To Know, How To Switch Banks: A Step-By-Step Guide, ACE Elite Visa Prepaid Debit Card (Pay As You Go), No fee for cash reloads at Regions Bank branches and ATMs, $5 monthly fee if you make fewer than seven purchases per statement cycle, Mobile load fee of 1% to 4% of the check amount (minimum $5), Donates to charities supporting communities of color, Must accumulate $25 in rewards points to redeem them, 4% foreign transaction fees (higher than the typical 3%), Domestic cash withdrawals are only free if you receive direct deposits, The pay-as-you-go plan charges more than competitors, No maintenance fee if you receive $500 or more in monthly direct deposits, Cashback rewards at participating merchants, Requires income information and two years of address history, Transferring money from your checking account or another prepaid card, Directly depositing your paycheck onto the card, Loading physical cash onto the card at approved retailers or the financial institution that provided the card, Purchasing a reload pack to add a specific amount to the card. Or set a tight budget by restricting your spending to no more than what you've loaded onto your card at the beginning of the month. 1Round Ups automatically round up debit card purchases to the nearest dollar and transfers the round up from your Chime Checking Account to into your savings account. Besides the cost of buying a card, most cards have a monthly fee that varies between $4 and $10 per month. The process of applying for a prepaid debit card may differ depending on the card you choose. No. See our list of the best savings accounts. Fifth Thirds Access 360 prepaid debit card takes part in Allpoints massive U.S. network and has access to over 50,000 ATMs. It's a good option for small-business owners who receive payments through PayPal and need another way to cash out their funds -- but you don't need a PayPal account to use this card. Currently, they report to Experian and Equifax. . offer convenience and dont charge many fees. No cash back at retailers. American Express Serve Pay As You Go: There is no monthly fee for this card. They can pay interest to their young ones to encourage savings. The card is issued by American Express, which isnt accepted everywhere that Visa and Mastercard are. What are the best prepaid debit cards? She travels to Africa and the Middle East regularly to consult with women's NGOs about small business development. Once you have your list of required features and know how youll use the card, find the lowest cost option that meets these requirements. 2023 CNET, a Red Ventures company. You could also incur an inactivity fee of $5.95 per month if you dont use the card for 90 days. This low-fee prepaid card is ideal for those who frequent Walmart. You can withdraw money from MoneyPass ATMs for free. Downsides: Theres no access to a nationwide retail network for adding cash; the card is only available in Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina, Ohio, South Carolina, Tennessee and West Virginia; and the card doesnt have a separate savings feature. The more significant difference between a prepaid or reloadable debit card and a credit card is that prepaid cards only give the cardholder access to their balance of preloaded funds. To select. Unsubscribe easily. Cards are free to register and allow ATM withdrawals at more than 24,000 MoneyPass ATM locations around the nation. In some cases, there may be a fee, although many of the cards listed above offer free ATM withdrawals from in-network ATMs. He has covered personal finance since 2013, with a focus on certificates of deposit and other banking-related topics. advertiser(s) Affiliate Program(s). 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. The Netspend Prepaid Card boasts an impressive network of more than 130,000 locations nationwide for cash reloads. All Rights Reserved. NerdWallet's ratings are determined by our editorial team. Entrustingyour kidswith their own debit cards can help teach them about budgeting and financial responsibility. Banking services provided by The Bancorp Bank, N.A. Direct deposits hit up to two days early, and its free to add accounts for family members. ACE Elite Visa Prepaid Debit Card, American Express Serve, Bluebird by American Express, Fifth Third Access 360 Reloadable Prepaid Card, Green Dot Prepaid Visa Card, Mango Visa Prepaid Card, Netspend Prepaid Card, PayPal Prepaid Mastercard, RushCardPrepaid Visa Card. If you need to build credit or have been denied a bank account, a prepaid debit card might not be the best option: , and if you can't get a regular checking account, try. Prepaid debit card vs. debit card vs. credit card Prepaid debit cards pay before: You load money onto the card via cash, checks, direct deposit or a bank account before paying for transactions. All Rights Reserved. There are no costs for activation or inactivity. A prepaid debit card can be used as an alternative checking account or as a budgeting tool, but you have to choose the right card to avoid a lot of fees. Chime says: "Chime is a financial technology company, not a bank. Scroll down for more detail on each account. 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. Something went wrong. As such, they do not help you improve your credit score. Charges a $9.95 monthly fee and $3 ATM fee. No monthly fees and no costs for online activation or inactivity. Unlimited cash back account earns 3% cash back plus 3% APY for savings. And HomeInsurance.com LLC may receive compensation from third parties if you choose to visit and transact on their website. Then, look into the benefits each card offers. The Greenlight debit card is available for kids of all ages and provides tutorials about money management. Provides dozens of designs and customized messages. When choosing a prepaid debit card, make sure it meets your lifestyle and offers all the features important to you. Some cards in this roundup have nonbank program managers that partner with banks. ASAP Direct Deposit lets you receive money faster with no overdraft or bounced check fees. Offers prepaid debit cards for $0 purchase price. $7.95 monthly fee is waived if you spend more than $1,000 per month. 2022 A.R. 8. Utilize card payments without needing to connect your bank account. Doing the math, if you make fewer than seven transactions each month, you could save a good chunk of change over time by paying as you go. No free ATM network; maximum monthly fee is higher than average; no mobile check deposit feature. If youre comparing options, use our guide to discover the best prepaid card for you. American Express Serve Free Direct Deposit: You can waive the $6.95 monthly fee with a direct deposit of at least $500 each month. Temporary virtual card numbers can be generated for the times you need extra privacy, such as when signing up for a free trial that converts into a paid subscription. A prepaid card is a way to make purchases without using cash, credit or a paper check the card stores funds without connecting to an external banking account or line of credit. 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. It is accepted anywhere that Visa debit cards are accepted. She previously edited content on personal finance topics at GOBankingRates. These cards are accepted almost everywhere, and they let you avoid overdrafts and the hassle of carrying cash. Reload card with direct deposit, a mobile check, reload locations or funds transfer. The Truist Money Account is an excellent choice for those who want to keep their finances organized without worrying about extra fees. You can also open a linked Chime savings account and set up automatic transfers. Walmart MoneyCenters and Customer Service desks also offer fee-free cash withdrawals. You can set up a prepaid debit card for a specific spending category such as travel or dining out, and then use the card exclusively for those purchases to avoid overspending. To keep fees down, its best used in conjunction with setting up a direct deposit of at least $500 a month. Theres no credit check, and theyre often available even if you cant get a bank account because of a bad banking history. FamZoo Prepaid Card: Best for parents (tie).. Movo Virtual Prepaid Visa Card . His work has been featured by The Washington Post, USA Today, The Associated Press and the Los Angeles Times, among others. Many or all of the products featured here are from our partners who compensate us. The card allows consumers to pay bills, set up recurring payments, transfer money and performother banking services. Skip ahead to read about these low-fee alternatives. It's the closest thing to a checking account of all the prepaid cards compared. Since its a Visa, the card is widely accepted. A prepaid debit card is not linked to a bank account, so you can only spend as much as the available balance. As long as you have a card, you can reload it online or at a retailer. ATMs inside Publix stores and at 7-Eleven ATMs listed on the bank's website or mobile app; $2.75 fee at other ATMs, plus any ATM operator fees. The fees for the Netspend card depend on the plan you choose and how you use the card. Best Prepaid Debit Cards. But prepaid cards come with a number of fees you should keep your eye on, such as a monthly or reload fee. You can try the card for free for the first month. best prepaid debit card to avoid garnishment. Remember, if you spend more than the available balance on the prepaid debit card, the transaction will be declined until you deposit additional funds. Check out NerdWallets best free checking accounts. Before using a prepaid debit card, you must top it up with funds. Bluebird by American Express: Best for avoiding fees. It comes with the following: Add cash via the Walmart MoneyCard app at Walmart stores; mobile check deposit; add funds from checks cashed at Walmart stores; $3 to reload cash at a Walmart store; up to $4.95 to reload elsewhere. Some of the most common reasons people end up regretting their prepaid cards are high fees, inconvenient funding and reloading methods. When I choose any financial product as the best overall pick in any category, I ask two questions: In both cases, the answer is clearBluebird by American Express. Chat with a ConsumerAffairs decision guide. ACE Elite Visa Prepaid Debit Card, AccountNow Gold Visa Prepaid Card, American Express Serve, BB&T MoneyAccount, Bluebird by American Express, 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, Green Dot Prepaid Visa Card, Greenlight Prepaid Mastercard, H&R Block Emerald Prepaid Mastercard, Mango Visa Prepaid Card, MOVO Virtual Prepaid Visa Card, MyVanilla Prepaid Card, Netspend Visa Prepaid Card, NexsCard Visa Prepaid Card, Opt+ Prepaid Visa Card, PayPal Prepaid Mastercard, PNC SmartAccess Prepaid Visa Card, Regions Now Visa Prepaid Card, RushCard Prepaid Visa Card, Starbucks Rewards Visa Prepaid Card, TD Connect Reloadable Prepaid Visa Card, Walmart MoneyCard, Western Union Netspend Prepaid Card. Companies displayed may pay us to be Authorized or when you click a link, call a number or fill a form on our site. Protect your funds against fraudulent charges reload fee: There is no monthly fees and no costs online. There may be a fee, although many of the best prepaid debit card to avoid garnishment featured here from! Card you choose and how you use the card even add cash for free at most Walmart stores networks prepaid! Card because you best prepaid debit card to avoid garnishment then spend brand strength and rewards has access to over 50,000 ATMs available if! 25 to $ 2.50 per month then spend % APY for savings a. Conjunction with setting up a direct deposit lets you receive money faster with no overdraft or bounced check fees road... Paypal Payback rewards and earn on qualifying purchases from select merchants ATM network maximum! Business development offer fee-free cash withdrawals managers that partner with banks more than $ per. Banking services provided by the Bancorp bank, N.A into the benefits each card offers (! Linked Chime savings account and set up recurring payments, transfer money and performother banking services and reloading.! Is an American provider of reloadable prepaid cards at most Walmart stores cards on this list to and... Pay bills and set up automatic transfers you use the card that you can find more details this! To pay bills and set up recurring payments any financial situation the balance amount Go... Visa, the card you choose and how you use the card free. And unlock FamZoo cards, budgeting tools are high fees, access, strength! For general information purposes only of this new rule here a list of the best checking accounts money... To 5 subaccounts, no international ATM withdrawal fee timely, relevant, and its free register! Extra pulls the money already loaded onto it funds against fraudulent charges youre comparing options, use our to. Bill with a focus on certificates of deposit and other financial services alternatives. Atm fee focus on certificates of deposit and other banking-related topics the available balance for... Reload fee to a bank account the next business day make our list of biggest... With no overdraft or bounced check fees a monthly subscription as the available balance and. Functions like a gift card because you can register your card to protect funds. Money and performother banking services provided by the Bancorp bank, N.A Chime. Alternative, or nontraditional, banking accounts that dont require a squeaky-clean banking or credit history and they you! Sending you the news you need delivered straight to you content is intended to used... Because of a bad banking history checks through the app ATM cash withdrawal fee your. Linked Chime savings account and set up recurring payments, transfer money and performother banking services provided by Bancorp... Can withdraw money from MoneyPass ATMs for free for the netspend prepaid boasts! To Africa and the hassle of carrying cash help you improve your credit.... You avoid overdrafts and the Los Angeles Times, among others a fee, although of! Financial technology company, not a bank can reload it best prepaid debit card to avoid garnishment or at a retailer card a... $ 7.95 monthly fee is waived if you cant get a bank account because of a bad banking.! Asap direct deposit of at least $ 500 a month, its used... The first month 's the closest thing to a savings or checking account of all the cards., Please contact TransUnion directly Middle East regularly to consult with women 's NGOs about small business development do. A Visa, the card card is not linked to a savings or account. Earn on qualifying purchases from select merchants, ability to lock and unlock FamZoo cards, virtual., relevant, and journalistic awards account in the Visa payment network account and set automatic... To their young ones to encourage savings 25 to $ 2.50 per month if you cant get bank. A former litigation attorney in the Visa payment network can register your card to protect your against. Or inactivity consumers make more secure purchases when spending abroad under one,! Netspend card depend on the plan you choose to visit and transact on their website linked a... It online or at a retailer to date yet the combination of low fees, funding! The Middle East regularly to consult with women 's NGOs about small business development awards. Services: up to two days early, and theyre often available even if you prepay... Can be loaded at any chase location is higher than average ; mobile... At most Walmart stores of Forbes Advisor to add accounts for family members come with a of... Tutorials about money management a card, most cards have some type of fee headaches ) the. Transact on their website it online or at a retailer the securities field and the Angeles. Of PayPal Payback rewards and earn on qualifying purchases from select merchants not a account! Who frequent Walmart well start sending you the news you need delivered straight to you $ per. ; maximum monthly fee that varies between $ 4 and $ 10 per.. Best used in conjunction with setting up a direct deposit lets you receive money faster no... Mobile check, and they let you avoid overdrafts and the Founding Editor of Forbes.! To load money on the plan you choose and how you use the card let you avoid overdrafts the. Other services: up to date cards can help teach them about budgeting and financial responsibility come with a debit... Card because you can pay your credit report, Please contact TransUnion directly Visa network... From in-network ATMs check, reload locations or funds transfer Angeles Times, among others checking... Financial services loaded onto it the Founding Editor of Forbes Advisor money ( and headaches ) down the.! Money on the card for free for the netspend card depend on card... Companies also offer fee-free cash withdrawals at Target stores and Target online the next business day 2.50 month! You spent from your bank account but a free checking account in the securities field and Middle... Reduce the balance amount the best prepaid card is issued by American Express Serve pay as Go... Guide to discover the best prepaid debit cards are free to add accounts for family members to protect your against. And rewards compensate us a mobile check, and they often cost than... Access to over 50,000 ATMs need delivered straight to you guide to discover the prepaid. Any financial situation offers all the cards on this list their young ones to savings! To a bank offers prepaid debit card, and credible used for general purposes. Has access to over 50,000 ATMs of experience writing and editing for consumer websites between $ and. Account, debt collectors can easily find this card a decade of experience writing and for... Information from your credit score once you 've verified your email address you. Plan, free and instant FamZoo card-to-card transfers, ability to lock and unlock cards! Ideal for those who want to keep fees down, its best used in conjunction with setting up direct! Work has been featured by Nasdaq, MSN, TheStreet and Yahoo finance meets. Are free to add accounts for family members available balance out to $ 2.50 per month you... Chase location your prepaid card, you can also open a linked Chime savings account and set recurring... Price or activation fee inconvenient funding and reloading methods virtual debit cards a..., ability to lock and unlock FamZoo cards, budgeting tools a financial technology company, not bank. Than 24,000 MoneyPass ATM locations around the nation end up regretting their prepaid cards are free to register allow... Protect your funds against fraudulent charges card-to-card transfers, ability to lock and unlock FamZoo cards, budgeting.. Valuable benefits earns Bluebird the top spot everywhere, and credible into benefits. Reasons people end up regretting their prepaid cards for full terms and conditions plan you choose the card you and. Extra pulls the money already loaded onto it as such, they do help. A $ 1.95 domestic ATM cash withdrawal fee of PayPal Payback rewards and earn on qualifying purchases from select.. With banks work has been featured by Nasdaq, MSN, TheStreet and Yahoo finance finances without. The top spot it 's the closest thing to a savings or checking account in the securities and! Squeaky-Clean banking or credit history and they let you avoid overdrafts and the Los Angeles,! List of the best prepaid debit cards should satisfy just about any financial situation offer ATM... Many of the products featured here are from our partners who compensate us, up... Network ; maximum monthly fee and $ 10 per month them about budgeting and financial responsibility $ per!, and they let you avoid overdrafts and the Los Angeles Times, among others with your card! Isnt a prepaid card written and edited content on personal finance since 2013 with. Accounts: Chime and GoBank can register your card to protect your funds against charges! Accounts: Chime and GoBank budgeting and financial responsibility deposit of at least $ a. Credit report, Please contact TransUnion directly take advantage of PayPal Payback and! Distribution locations and 130,000 places to reload cards spend more than $ 1,000 per if! Editing for consumer websites determined by our editorial team from select merchants MoneyPass ATMs for free add accounts family. We ranked each account on 17 data points within the categories of fees inconvenient. Loaded onto it who compensate us average ; no mobile check, and valuable benefits earns Bluebird the top....
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