She has over a decade of experience writing and editing for consumer websites. Green Dot Prepaid MasterCard This is a card with a simple fee plan. We value your privacy. Unlike traditional debit cards and credit cards, a prepaid debit card isnt linked to a bank account. The card allows consumers to pay bills, set up recurring payments, transfer money and performother banking services. 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. This keeps the monthly fee down to $5 with no transaction fees. 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. Regardless, all the cards issuers are banks that insure consumers money through the. Read more about PayPal Prepaid MasterCard, Read more about American Express Gift Cards. All financial products, shopping products and services are presented without warranty. Must have $0.01 in savings to earn interest. Likewise, if you plan to make numerous ATM withdrawals each month, find a prepaid card that offers free withdrawals. Cynthia Paez Bowman is a finance, real estate and international business journalist. To support our work, we are paid in different ways for providing advertising services. Keep in mind, however, that the Target RedCard can only be used at Target stores and Target online. The methods for adding money to a prepaid card vary from card to card. Green Dot is a prepaid and reloadable debit card company that allows customers to pay rent and send out other payments. While Chime is not a bank, it partners with an FDIC-insured back that protects your money. Its free. express the opinions of the author alone, and not those of any credit card issuer. Cards are free to register and allow ATM withdrawals at more than 24,000 MoneyPass ATM locations around the nation. : 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). Utilize card payments without needing to connect your bank account. Scroll down for more detail on each account. NerdWallet's ratings are determined by our editorial team. The card is issued by American Express, which isnt accepted everywhere that Visa and Mastercard are. Yes, they can freeze you green dot card if they can find it. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. or Stride Bank, N.A., Members FDIC. Credit card reviews and listings Her work has appeared on Chime, Clever Girl Finance, RateGenius, and Mint Intuit, among other publications. But unlike debit cards, prepaid cards are not linked to any bank account. , Greenlight Prepaid Mastercard, H&R Block Emerald Prepaid Mastercard, Mango Visa Prepaid Card, MOVO Virtual Prepaid Visa Card, MyVanilla Prepaid Card. You can schedule the transfers on a periodic basis to make money management even easier. Our favorite reloadable debit cards offer convenient loading and flexible spending options with low or no monthly fees. 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. Instead, Extra pulls the money you spent from your bank account the next business day. Check out NerdWallets best free checking accounts. Besides Bankrate.com, her work has been featured in Business Jet Traveler, MSN, CheatSheet.com, Freshome.com and SimpleDollar.com. Reload card with direct deposit, a mobile check, reload locations or funds transfer. Cardholders enjoy perks like two-day early direct deposit on checks and a free custom card design. Chat with a ConsumerAffairs decision guide. That way, if someone steals the account number, its of no value as that digital debit card has no balance. 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. Offers FREE consultation! No charge from FamZoo, but ATM withdrawals will still cost you: Since FamZoo doesn't have any of its own ATMs, third-party ATM operator fees can apply. Offers a convenient way to receive federal benefit funds. All rights reserved. ; Members FDIC. Her work has been featured by Nasdaq, MSN, TheStreet and Yahoo Finance. Plus, Regions Bank waives the $5 monthly fee if you use the card to make at least seven purchases during a statement period. The PayPal Prepaid Mastercard offers the most ways to replenish your prepaid card out of all the cards on this list. 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. Posted on May 3, 2014. Something went wrong. offer convenience and dont charge many fees. The ACE Elite Visa Prepaid Debit Card lets you choose among its Pay As You Go Plan, a monthly plan, or a reduced monthly plan. General fees and features: $4.99 to $9.98 per month, depending on selected plan (more expensive plans include features like investing education and identity theft protection); no costs for activation, inactivity or account closure. People trying to avoid judgment creditors often try to convert assets to cash and plan to hide the cash from discovery. Best with No Reload Fees: NetSpend Visa Prepaid Card. You can withdraw money from MoneyPass ATMs for free. Prepaid debit cards vs. regular debit cards. Your green dot card is just debit card linked to a bank account that exists somewhere. Yet the combination of low fees, abundant features, and valuable benefits earns Bluebird the top spot. Unlimited cash back account earns 3% cash back plus 3% APY for savings. It goes to an FDIC-insured Checking account connected to the Chime app. ATM withdrawals: No charge from FamZoo, but ATM withdrawals will still cost you: Since FamZoo doesn't have any of its own ATMs, third-party ATM operator fees can apply. Our insurance content may include references to or advertisements by our corporate affiliate HomeInsurance.com LLC, a licensed insurance producer (NPN: 8781838). Movo offers a virtual prepaid Visa that eliminates the need for a plastic card. Rob Berger is the founder of allCards.com. American Express Serve Cash Back - Best turnaround time. Weve already mentioned Bluebird, which is as low fee as youll find. In a digital world, information only matters if it's timely, relevant, and credible. Your financial situation is unique and the products and services we review may not be right for your circumstances. Downsides: No free ATM network; maximum monthly fee is higher than average; no mobile check deposit feature. Then, look into the benefits each card offers. Remember, if you spend more than the available balance on the prepaid debit card, the transaction will be declined until you deposit additional funds. Add funds. * It can be waived, however, each month you have a direct deposit of at least $500. The PayPal Prepaid MasterCard is a prepaid credit card offered by PayPal, the popular online payment platform. For features, we looked at each cards money management tools, mobile apps, and customer service. Information in this guide is general in nature and is intended for informational purposes only; it is not legal, health, investment or tax advice. We all know that Amex isnt accepted as widely as Visa/MasterCard (see above for those options). A fee of 5% of the deposit amount applies if you load your card with a paper check using ACE Elites app. You also get a mobile app (Apple or Android) and can receive alerts about your account via text or email. You can also receive instant transaction alerts and lock your debit card if you lose it. If youd prefer not to pay for purchases with cash, credit cards or funds in your checking account, give prepaid debit cards a try. Chase Liquid is a reloadable debit card offered by the national bank that can be loaded at any Chase location. Advertising Disclosure: allCards.com is an independent, advertising-supported blog offering By Jon Alper July 29, 2008. She has written and edited content on personal finance topics for more than five years. The Truist Money Account is an excellent choice for those who want to keep their finances organized without worrying about extra fees. All financial products, shopping products and services are presented without warranty. Up to 5 subaccounts, no international ATM withdrawal fee. Cash withdrawal and third-party fees may apply. Here's why: A lot of prepaid cards charge various fees. 3% cash back at Walmart.com and in the Walmart app and other cash back rewards. Sign up to receive our free weekly newsletter. 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. FamZoo is a family-friendly prepaid Mastercard that lets parents become virtual bankers for their kids, even those younger than 13. aseptic technique ampoule; deaths in hardeman county tn; hydro dipping hertfordshire; trove gem calculator; abandoned places in orange county ny; buford's message to reynolds gettysburg 1863 For prepaid debit cards, you load the card with money when you get it, then use it to make purchases. This site may be compensated through the bank Once you select the prepaid card that best meets your needs, you pay the activation fee and load money onto the card. If you spend more than that, this prepaid card actually pays you for using it. Message. When evaluating offers, please review the financial institutions Terms and Conditions. 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. No overdraft fees. $4 monthly fee thats waived if you have a Fifth Third checking account or if you make $500 or more in deposits monthly; no costs for activation or inactivity. The best prepaid cards offer convenience and dont charge many fees. For the most part, these changes have been positive. 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). It's the closest thing to a checking account of all the prepaid cards compared. Greenlight stands out for a feature that other prepaid cards lack: store-specific spending controls. Bluebird by American Express: Best for avoiding fees. In some cases, there may be a fee, although many of the cards listed above offer free ATM withdrawals from in-network ATMs. It is very important to do your own analysis before making any investment based on your own personal circumstances and consult with your own investment, financial, tax and legal advisers. Regardless, all the cards issuers are banks that insure consumers money through the Federal Deposit Insurance Corp. No cards above have overdraft fees. General fees and features: $4 monthly fee thats waived if you have a Fifth Third checking account or if you make $500 or more in deposits monthly; no costs for activation or inactivity. *Please see site for full terms and conditions. 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. 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. Chime is an award winning financial app and Visa debit card. Information provided on Forbes Advisor is for educational purposes only. February 27, 2023 . It also comes with an optional savings account. You can also receive instant transaction alerts and lock your debit card if you lose it. Prepaid cards are a smart option if you want the convenience of paying with plastic without needing a bank account. There is a monthly fee, but its as low as $2.50 a month, and its for the entire family. Ruth Sarreal is a content management specialist at NerdWallet. 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. Scroll down for more detail on each account. No monthly fee and no costs for activation or inactivity; no credit check. They are available at many retail stores. Offers travel protection and 24/7 customer service. Spencer Tierney is a consumer banking writer at NerdWallet. Some cards are free to acquire, but some have an initial purchase price or activation fee. Its one of the best free prepaid debit cards available today. View NerdWallet's picks for the best checking accounts. . 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. And with direct deposit, you can get paid up to two days early.*. We looked at 45 reloadable prepaid debit cards offered by some of the biggest banks, credit unions and prepaid debit card issuers. You can try the card for free for the first month. So dont forget to compare the benefits and fees of the best prepaid debit cards before making a decision. ASAP Direct Deposit lets you receive money faster with no overdraft or bounced check fees. Additional prepaid card benefits include: As you consider a prepaid debit card, its crucial to be aware of their drawbacks. Read more, Ruth Sarreal is a content management specialist at NerdWallet. Currently, they report to Experian and Equifax. The process of applying for a prepaid debit card may differ depending on the card you choose. , no international ATM withdrawal fee transfers on a periodic basis to numerous! And valuable benefits earns Bluebird the top spot of experience writing and editing for consumer.! Perks like two-day early direct deposit, you can withdraw money from MoneyPass ATMs free. Advertising-Supported blog offering by Jon Alper July 29, 2008 that offers free withdrawals $! Advertising services turnaround time this keeps the monthly fee and no costs for activation or inactivity ; mobile. And customer service 's ratings are determined by our editorial team: a of... 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