Here are seven steps toward getting the best deal. Movo also lets you convert and transfercryptocurrencyas cash anytime. 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. A prepaid debit card can serve as a budgeting tool or be a replacement for a bank account. Ink Business Cash vs. Cash withdrawal and third-party fees may apply. We are an independent publisher. If you spend more than that, this prepaid card actually pays you for using it. Parents can transfer funds instantly to a childs account, ideal when paying for chores or allowance. Another Amex option is Serve. approved or otherwise endorsed by the credit card advertisers. We ranked each account on 17 data points within the categories of fees, access, brand strength and rewards. In addition, some prepaid cards will waive some or all of the monthly fee if you load a certain amount of money on the card via direct deposit. Movo offers a virtual prepaid Visa that eliminates the need for a plastic card. Chat with a ConsumerAffairs decision guide. Cash withdrawal and third-party fees may apply. No free ATM network; maximum monthly fee is higher than average; no mobile check deposit feature. Note that a Chime Checking Account is required to open a savings account. 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. A prepaid debit card for international travel also lets consumers make more secure purchases when spending abroad. However, we may receive compensation when you click on links to products or services offered by our partners. 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. ConsumerAffairs is not a government agency. The Annual Percentage Yield (APY) for the Chime Savings Account is variable and may change at any time. Our content is intended to be used for general information purposes only. Premier is an upgrade from Netspends starter prepaid debit card. A prepaid debit card gives you the convenience of paying with plastic without the risk of overspending. Past performance is not indicative of future results. Some banks and local credit unions also sell prepaid cards. For many of these products and services, we earn a commission. 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. Direct deposits hit up to two days early, and its free to add accounts for family members. 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.. Earn up to $75 cash back each year at Walmart. Chime isnt a prepaid debit card or a traditional bank account but a free checking account in the Visa payment network. You could also incur an inactivity fee of $5.95 per month if you dont use the card for 90 days. If you'd like your kids to get some practical knowledge about investing, the $7.99 and $9.98 monthly plans add stock trading. 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. It's easy to apply for the Emerald card, and there is no setup fee or annual fee. The Bluebird by American Express is our favorite prepaid card. Chime has two automatic savings programs: one where a percentage of every paycheck automatically goes into the savings account and the other where your purchases are rounded up to the nearest dollar and the rounded-up change goes to savings (see below for more information from Chime). , PNC SmartAccess Prepaid Visa Card, Regions Now Visa Prepaid Card. 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. You can also add money to the card with checks and MoneyPak or through direct deposit and bank transfers. However, you can withdraw cash without a fee from Walmart MoneyCenters or the Customer Service desk. , 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. Yes, they can freeze you green dot card if they can find it. Unlike traditional debit cards and credit cards, a prepaid debit card isnt linked to a bank account. ACE Elite Visa Prepaid Debit Card (Pay As You Go) 4.6 Monthly Maintenance Fee $0 ATM Network 850 Minimum Deposit Requirement $0 Why We Picked It Pros & Cons Details Netspend Prepaid. You can use it once online, for example, and then dispose of it. or Stride Bank, N.A., Members FDIC. We value your privacy. These accounts provide another shot at mainstream banking and its perks. Sells prepaid cards and gift cards. 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. Ink Business Unlimited, Chase Sapphire Preferred vs. 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). The funds you add to the card are available right away for spending. The monthly fee is $7.95, which cant be waived. You could enable your children's spending with a prepaid debit card, while teaching them how to be responsible with money. Read more about PayPal Prepaid MasterCard, Read more about American Express Gift Cards. And you get an additional 30 days for returns and exchanges. 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. It also comes with an optional savings account. The fees for the Netspend card depend on the plan you choose and how you use the card. Parents and turn a card off or on from the app. And with direct deposit, you can get paid up to two days early.*. Not to be confused with the free reload card, the Serve American Express Prepaid Debit Account helps you earn cash back for purchases you would be making anyway -- a true rarity for a prepaid card. Copyright 2022 Consumers Unified LLC. Utilize card payments without needing to connect your bank account. Our ratings take into account a product's rewards, fees, rates and other category-specific attributes. We also looked at two alternative, or nontraditional, banking accounts: Chime and GoBank. Read more. What are the best prepaid debit cards? Other services: Separate set aside accounts for savings and up to four subaccounts for family members. Provides Serve, Serve Free Reloads and Serve Cash Back options. Where multiple card plans existed, only the basic monthly fee plan was considered. 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. American Express Serve Free Direct Deposit: You can waive the $6.95 monthly fee with a direct deposit of at least $500 each month. Thats not to say the card is perfect. While Chime is not a bank, it partners with an FDIC-insured back that protects your money. Add funds. Bluebird by American Express. 2022 A.R. But, you will have to pay $1.00 for each transaction and $2.25 for ATM withdrawals. This keeps the monthly fee down to $5 with no transaction fees. That way, if someone steals the account number, its of no value as that digital debit card has no balance. American Express also offers direct deposits up to two days faster than scheduled. 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. Offers travel protection and 24/7 customer service. Free family accounts up to four people. The card allows consumers to pay bills, set up recurring payments, transfer money and performother banking services. The contents of this site may not be republished, reprinted, rewritten or recirculated without written permission. Earn up to 1% cash back. Purchase price up to $3.95. Advertising Disclosure: allCards.com is an independent, advertising-supported blog offering The difference between prepaid debit cards and checking accounts is starting to blur, as many have similar features and services. Prepaid debit cards that we considered included: Green Dot also offers a plan with a monthly fee for those who don't want to pay a fee per transaction. But generally, the options include adding cash at a retail register (often for a fee), adding funds by using an app to make a mobile check deposit, and by direct deposit, card-to-card transfer and bank transfer. Likewise, if you plan to make numerous ATM withdrawals each month, find a prepaid card that offers free withdrawals. 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. General fees and features: No monthly fees and no costs for online activation or inactivity. There are no costs for activation or inactivity. Bluebird by American Express | Our Top Pick Best for No Monthly Fee. Weve already mentioned Bluebird, which is as low fee as youll find. Walmart MoneyCenters and Customer Service desks also offer fee-free cash withdrawals. Best prepaid debit card for reload options. 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. Green Dot Load & Go is ideal for someone who doesn't rely on their card for everyday purchases. The account also enables you to track your spending by category for better money management. But you're the final judge. AccountNow offers Visa and MasterCard prepaid cards that let customers add money through a variety of ways and also directly deposit their paychecks into their accounts. Prepaid card vs. debit cards. 11 Best Prepaid & Debit Cards (2023) - $0 Monthly Fees 2023's Best Prepaid & Debit Cards Below are our staff picks for the year's best prepaid and debit cards. But it's pretty cool to get notifications that your child wants to buy Starbucks shares instead of a latte. Garnishable Prepaid Cards. Fifth Third Access 360 Reloadable Prepaid Card: Best for ATM withdrawals. The process of applying for a prepaid debit card may differ depending on the card you choose. ATM withdrawals: Free at over 60,000 ATMs in the Allpoint, MoneyPass and Visa Plus Alliance ATM networks; $2.50 at other ATMs, plus any ATM operator fee. Downsides: No cash back at retailers. 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. 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. Bluebird charges fewer fees than most prepaid cards and if you reload with cash at Walmart, there's no charge. But prepaid cards come with a number of fees you should keep your eye on, such as a monthly or reload fee. Information in this guide is general in nature and is intended for informational purposes only; it is not legal, health, investment or tax advice. No minimum balance required. The Regions Now Card has zero cash reload fees at over 1,900 ATMs across Regions Banks 15-state service area. The pay-as-you-go plan has no monthly fees but costs $1.50 per transaction. Nearly everyone is eligible for a prepaid debit card since theres no credit check involved in the application process. February 27, 2023 . By entering your email, you agree to sign up for consumer news, tips and giveaways from ConsumerAffairs. Cash withdrawal and third-party fees may apply. So how do we make money? Prepaid debit cards can make it easier to control your spending and stay out of credit card debt, but steep fees can erode their benefits. Though we can't review every available financial company or offer, we strive to make comprehensive, rigorous comparisons in order to highlight the best of them. For example, some advertisers pay us to display ads, others pay us when you click on certain links, and others pay us when you submit your information to request a quote or other offer details. This information may be different than what you see when you visit a financial institution, service provider or specific products site. Cardholders can load cash onto a prepaid card at retail stores for a fee. Reload methods: 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 issuers provide access to instant debit cards online that use virtual card numbers. The best prepaid cards offer convenience and dont charge many fees. Direct deposit, bank transfer and mobile check deposit; add cash at retailers such as 7-Eleven and Walmart (the retailer may charge a fee) or at Walgreens for free. As you run low, you can add more money to the card. Here's a list of the best prepaid debit cards on the market today: Learn More Best Overall: BlueBird by American Express Pros No monthly fee or in-network ATM fees Free to load at Walmart Free online bill pay Cons $2.50 ATM fee for out-of-network ATMs $2,500 daily money transfer limit Fees are between $4 and $16 for money transfers No monthly fees and no costs for online activation or inactivity. Earn up to two days early, and then dispose of it eliminates need! Cards offer convenience and dont charge many fees is ideal for someone who n't. Consumers to pay $ 1.00 for each transaction and $ 2.25 for withdrawals. Also offer fee-free cash withdrawals dont charge many fees plan you choose and how you use the card with and... Transfercryptocurrencyas cash anytime plan has no monthly fees but costs $ 1.50 per transaction tips giveaways... Card since theres no credit check involved in the application process, such a... 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