We evaluated 70 reloadable prepaid debit cards (see list below). Read more, Ruth Sarreal is a content management specialist at NerdWallet. Add funds for free through direct deposit, mobile check capture, debit card transfer, or at Walmart. 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. 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. Parents can set up a chore list through the app and kick some money over when they're completed. Where multiple card plans existed, only the basic monthly fee plan was considered. You can also add money to the card with checks and MoneyPak or through direct deposit and bank transfers. 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. 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.. However, this does not influence our evaluations. The American Express Serve card is a reloadable prepaid debit card that functions similarly to a basic debit card tied to a checking account at a traditional bank. We do not transact in the business of insurance in any manner, and we are not attempting to sell insurance or asking or urging you to apply for a particular kind of insurance from a particular company. Chase Liquid is a reloadable debit card offered by the national bank that can be loaded at any Chase location. The downside is that the $6.95 monthly fee cant be waived, even with direct deposit. View NerdWallet's picks for the best checking accounts. ; Members FDIC. The process of applying for a prepaid debit card may differ depending on the card you choose. sonicwave 231c non responsive Uncovering hot babes since 1919.. best prepaid debit card to avoid garnishment. Her work has appeared on Chime, Clever Girl Finance, RateGenius, and Mint Intuit, among other publications. Parents can lock and unlock accounts. $2.50 to $4.33 if prepaid; $5.99 if billed. Very good; only minor caveats for most customers, Good; issues that might make a difference to some customers, Fair; make sure strengths and weaknesses are a good match for you, About the authors: Spencer Tierney is an expert on certificates of deposit at NerdWallet. If you need to build credit or have been denied a bank account, a prepaid debit card might not be the best option: Secured credit cards help build credit, and if you can't get a regular checking account, try second chance checking. Walmart MoneyCenters and Customer Service desks also offer fee-free cash withdrawals. offer convenience and dont charge many fees. Still, there are many prepaid debit cards that charge outrageous fees, offer limited benefits, or both. ", "Save When I Get Paid automatically transfers 10% of your direct deposits of $500 or more from your Checking Account into your savings account. Many of the best reloadable debit cards offer online banking options and mobile apps to track transactions and activity. What Chime adds is an excellent app to help you manage your money. . The fees for adding and withdrawing cash are the same or slightly higher than those for the Netspend twins. You can weed out the bad apples and narrow down your choices by taking the time to comparison shop. 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). Unlike traditional credit cards, these cards require that cardholders load funds onto the card before using. 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. The best prepaid cards offer convenience and dont charge many fees. The cards that made this list had the best combination of these categories. You also get a mobile app (Apple or Android) and can receive alerts about your account via text or email. Other fees include reload charges, which can cost as much as $6 per transaction and ATM withdrawals of $2.50 on average. It offers free direct deposit, cash loads at more than 130,000 locations, and a relatively low monthly fee. Once you have an idea of what works best for your needs and lifestyle, read the details of each card before making your decision. These cards are accepted almost everywhere, and they let you avoid overdrafts and the hassle of carrying cash. All of our top picks are authorized by ConsumerAffairs. Many prepaid debit cards waive reload fees if the cardholder opts into direct payroll check deposits. 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. Walmart MoneyCard: Best for shopping at Walmart. Are you sure you want to rest your choices? Reload methods: 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. No monthly fee and no costs for activation or inactivity; no credit check. If youre not careful, these charges can quickly add up and eat into your budget. She is based in Portland, Oregon. To learn more about our rating and review methodology and editorial process, check out our guide on How Forbes Advisor Reviews Banks. Cardholders earn rewards when they shop at Walmart stores. All financial products, shopping products and services are presented without warranty. You can withdraw money from MoneyPass ATMs for free. Parents can pay interest to their childs account as a way to incentivize savings. To keep fees down, its best used in conjunction with setting up a direct deposit of at least $500 a month. Vanilla Prepaid Cards are simple prepaid cards you can use anywhere Mastercard or Visa is accepted. Editorial Note: We earn a commission from partner links on Forbes Advisor. ", "Mobile Check Deposit eligibility is determined by Chime in its sole discretion and may be granted based on various factors including, but not limited to, a member's direct deposit enrollment status.". Cash deposit fees may apply if using a retailer other than Walgreens. Can you get money from an ATM with a prepaid card? This site may be compensated through the bank Best for a spending cushion . Movo Virtual Prepaid Visa Card . Free reloads and ATMs. 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. 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. Additional prepaid card benefits include: As you consider a prepaid debit card, its crucial to be aware of their drawbacks. Plus, you don't have to worry about overdraft fees, since your spending cannot exceed the available balance on your card. Generally, you can also use a prepaid debit card to withdraw cash from ATMs. RushCard is a prepaid Visa card that lets consumers load their own money onto the card. FamZoo Prepaid Debit Card - Best card for Families. Serve rewards you with1% back on all your purchases, which hit your account as soon as the transaction settles. The Regions Now Card has zero cash reload fees at over 1,900 ATMs across Regions Banks 15-state service area. Likewise, if you plan to make numerous ATM withdrawals each month, find a prepaid card that offers free withdrawals. When evaluating offers, please review the financial institutions Terms and Conditions. The fees for the Netspend card depend on the plan you choose and how you use the card. Our content may include summaries of insurance providers, or their products or services. 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. Movo also lets you convert and transfercryptocurrencyas cash anytime. There is no monthly maintenance fee. Here are our top prepaid debit cards based on fees and features. Performance information may have changed since the time of publication. Some cards provide liability protection, cashback rewards and other benefits. No transaction fees. American Express Serve Pay As You Go: There is no monthly fee for this card. Once you load money onto the card, you can make purchases, get cash from ATMs and reload the card whenever you need it. approved or otherwise endorsed by the credit card advertisers. All rights reserved. Written by: Eric Bank Edited by: Lillian Guevara-Castro Reviewed by: Ashley Dull Banking Content Disclosure: Content is not provided or commissioned by the bank advertiser(s). All Rights Reserved. Other prepayment plans also offer a discount. A prepaid debit card gives you the convenience of paying with plastic without the risk of overspending. 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. Be sure to carefully read the terms and conditions of any card before purchasing. There is a $5.94 monthly fee. Manage your money from your mobile device through the app. Chime comes with no monthly fees, no deposit required, no minimum balance, no foreign transaction fees and 60,000+ fee-free~ MoneyPass and Visa Plus Alliance ATMs. The Forbes Advisor editorial team is independent and objective. 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. 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). Entrustingyour kidswith their own debit cards can help teach them about budgeting and financial responsibility. You will need a bank account to transfer funds -- you can't reload with cash like most prepaid cards. Charges a monthly plan fee of $4.95. 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. $5.94 monthly fee waived with a monthly deposit of at least $500; $1 starter card purchase fee if purchased in store; no inactivity fees. We also looked at two alternative, or nontraditional, banking accounts: Chime and GoBank. Yes, you can pay your credit card bill with a prepaid card. As such, they do not help you improve your credit score. 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. Free family accounts up to four people. $7.95 monthly fee is waived if you spend more than $1,000 per month. One client recently explained that he . Directly deposit payroll, government benefits or tax return funds. You can also easily transfer funds to friends and family members who have a Movo account. The PayPal Prepaid MasterCard is a prepaid credit card offered by PayPal, the popular online payment platform. Its not a prepaid card, its better. His work has been featured by USA Today and the Los Angeles Times. 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. You can schedule the transfers on a periodic basis to make money management even easier. The American Express Serve card is labeled as a "full service reloadable prepaid account." He is based in Berkeley, California. Plus, unlike many competitors, Truist doesnt charge cash reload or inactivity fees. You can set and track savings goals. But Bluebird does have limits when it comes to merchant acceptance, and it doesnt allow cash back at retailers. Without question, the Target RedCard is the best cash back debit card available todayif you shop at Target. These accounts provide another shot at mainstream banking and its perks. A prepaid debit card can serve as a budgeting tool or be a replacement for a bank account. Currently, they report to Experian and Equifax. Jamela Adam is a personal finance writer covering topics such as savings, investing, mortgages, student loans, and more. It's easy to get a Visa Prepaid card and there's . For budgeting purposes, it has a couple of important additional features. Check your account balance, review transactions and load checks through the app. As long as you have a card, you can reload it online or at a retailer. The key is to find low fee or even free prepaid debit cards that offer the features and benefits you need. For regular debit cards, the funds for your payments are taken directly from your checking account as you make payments. Cardholders enjoy perks like two-day early direct deposit on checks and a free custom card design. You can prepay $59.99 for two years of FamZoo that works out to $2.50 per month. Reloadable cards can be used over and over again. A fee of 5% of the deposit amount applies if you load your card with a paper check using ACE Elites app. No ATM access for gift cards. By Jon Alper July 29, 2008. , PNC SmartAccess Prepaid Visa Card, Regions Now Visa Prepaid Card. Fifth Third Access 360 Reloadable Prepaid Card. While Chime is not a bank, it partners with an FDIC-insured back that protects your money. 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. Best with No Monthly Fees: Brinks Prepaid Mastercard. In a digital world, information only matters if it's timely, relevant, and credible. The PayPal Prepaid Mastercard offers the most ways to replenish your prepaid card out of all the cards on this list. Our ratings take into account a product's rewards, fees, rates and other category-specific attributes. He's written about personal finance and investing since 2007 and is the author of the highly acclaimed book, Retire Before Mom and Dad. $4 monthly fee that's reasonably easy to waive. Up to 5 subaccounts, no international ATM withdrawal fee. The money on a prepaid debit card is not held in a bank account with your name. Unsubscribe easily. If you dont prepay, the fee is $5.99 for a monthly subscription. The editorial content on this page is based solely on objective, independent assessments by our writers and is not influenced by advertising or partnerships. She owns and operates a small digital marketing and public relations firm that works with select startups and women-owned businesses to provide growth and visibility. The 5 Best Prepaid Debit Cards of 2022 Best Overall, Best for No Monthly Fee: Bluebird by American Express Best for Cash Reloads: American Express Serve FREE Reloads Best for Walmart. annual percentage yield. Typically, with credit card debt, your creditor has to sue you in court and win before a wage garnishment can happen. What are the best prepaid debit cards? 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. American Express Serve Cash Back - Best turnaround time. Plus, Regions Bank waives the $5 monthly fee if you use the card to make at least seven purchases during a statement period. Offers a convenient way to receive federal benefit funds. Banking services and debit card provided by The Bancorp Bank, N.A. Cash withdrawal and third-party fees may apply. 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. FamZoo is a family-friendly prepaid Mastercard that lets parents become virtual bankers for their kids, even those younger than 13. 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. 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. Readers are part of the CNET family, and the strength of that relationship is the ultimate test of our success. Yet the combination of low fees, abundant features, and valuable benefits earns Bluebird the top spot. Prepaid debit cards are a good alternative to a traditional checking account. Some prepaid debit cards charge a host of fees. Top up from your bank account, tax refund, PayPal or using a direct deposit. If you dont prepay, the fee is $5.99 for a monthly subscription. This information may be different than what you see when you visit a financial institution, service provider or specific products site. They can pay interest to their young ones to encourage savings. Best prepaid debit card for reload options. 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