Prepaid debit cards are generally safe to use and are likely safe to use for online shopping purchases. Card must be linked to PayPal account. Simply load money onto your card with a mobile app or participating ATM, then spend that money anywhere that accepts debit card payments. Provides dozens of designs and customized messages. Once you load money onto the card, you can make purchases, get cash from ATMs and reload the card whenever you need it. A Greenlight account can have up to five subaccounts, so it works for a family. Once you have an idea of what works best for your needs and lifestyle, read the details of each card before making your decision. 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. In contrast, prepaid gift cards cannot be reloaded. American Express Serve Cash Back - Best turnaround time. , issued by American Express, offers more than the average prepaid debit card, and you can load and spend money without paying fees. NerdWallet Compare, Inc. NMLS ID# 1617539, NMLS Consumer Access|Licenses and Disclosures, California: California Finance Lender loans arranged pursuant to Department of Financial Protection and Innovation Finance Lenders License #60DBO-74812, Property and Casualty insurance services offered through NerdWallet Insurance Services, Inc. (CA resident license no. Find out more here. To determine which cards made our list, we considered each cards fees and features. From the website or app, you can send allowances, split payments, see balances and activity across all cards and set up text and email alerts. Chime is a financial technology company, not a bank. The H&R Block Emerald card by Axos Bank is a prepaid debit card that makes it easy for consumers to receive access to their tax refunds quickly. The one drawback to this card is that there are no free ATM withdrawalsthey cost $2.50 each. 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. Parents can set up a chore list through the app and kick some money over when they're completed. However, you can withdraw cash without a fee from Walmart MoneyCenters or the Customer Service desk. *Please see site for full terms and conditions. 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. 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 buy prepaid cards at most grocery and convenience stores, online and over the phone. No wire transfers. But prepaid cards come with a number of fees you should keep your eye on, such as a monthly or reload fee. But unlike debit cards, prepaid cards are not linked to any bank account. Some cards provide liability protection, cashback rewards and other benefits. Sells prepaid cards and gift cards. 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. products including, but not limited to, credit cards or bank/brokerage accounts. to make sure our coverage is fair and accurate, so you can choose the financial accounts that work best for you. No monthly fee with balance over $1,000. OK92033) Property & Casualty Licenses, NerdWallet | 55 Hawthorne St. - 11th Floor, San Francisco, CA 94105. Walmart MoneyCard - Best for Walmart Shoppers. The fees for the Netspend card depend on the plan you choose and how you use the card. Serve rewards you with1% back on all your purchases, which hit your account as soon as the transaction settles. Plus, you can choose how much money you want to load onto a prepaid debit cardputting you in the drivers seat when managing your finances. Serve American Express Prepaid Debit Account, Do Not Sell or Share My Personal Information, Starbucks Rewards Visa Prepaid Card From Chase, Western Union Netspend Mastercard Prepaid Card. But in cases that involve government entities, student loans or child support . All of our top picks are authorized by ConsumerAffairs. Cardholders can make secure deposits through the Green Dot apps check capture feature, reload at the register or deposit funds through MoneyPark. Sign up and well send you Nerdy articles about the money topics that matter most to you along with other ways to help you get more from your money. Prepaid debit cards that we considered included: The Walmart MoneyCard offers its shoppers up to $75 per year in cash-back rewards: 3% for purchases made at Walmart.com and in the Walmart app, 2% at Walmart fuel stations and 1% at Walmart stores. Some banks and credit unions also issue prepaid cards. Still, there are many prepaid debit cards that charge outrageous fees, offer limited benefits, or both. The best will depend on the features you need and how youll use the card. The Bluebird by American Express prepaid debit card has the lowest fees of all the cards on this list. 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. The Netspend Prepaid Card boasts an impressive network of more than 130,000 locations nationwide for cash reloads. You get free 2-day shipping on thousands of items from Target. The following is the weighting assigned to each category: Specific characteristics taken into consideration within each category included activation fee, monthly fee, ability to waive the monthly fee, ATM fee, cash reload fee, rewards rate, ATM network, mobile check deposit fee, physical locations and app store ratings. Yes, you can pay your credit card bill with a prepaid card. Who Is Eligible for a Prepaid Debit Card? Some cards in this roundup have nonbank program managers that partner with banks. Parents can lock and unlock accounts. He's written about personal finance and investing since 2007 and is the author of the highly acclaimed book, Retire Before Mom and Dad. Other services: 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 traditional debit card is linked to a bank account, so any purchases you make using your debit card will be withdrawn from your bank account. best prepaid debit card to avoid garnishment. When evaluating offers, please review the financial institutions Terms and Conditions. We looked at 45 reloadable prepaid debit cards offered by some of the biggest banks, credit unions and prepaid debit card issuers. Our ratings take into account a product's rewards, fees, rates and other category-specific attributes. Chime is an award winning financial app and Visa debit card. Keep in mind, however, that the Target RedCard can only be used at Target stores and Target online. The Forbes Advisor editorial team is independent and objective. This site may be compensated through the bank 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. However, not all debt collectors follow these rules, so it's best to avoid postdated checks. However, unlike a regular debit card that is linked to its holder's checking account, a prepaid credit card is linked to a special account to which the card's owner cannot deposit money, only withdraw it. $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. Children see just their accounts while parents see all transactions from all family members. Provides Serve, Serve Free Reloads and Serve Cash Back options. or Stride Bank, N.A., Members FDIC. It comes with the following: Typically, with credit card debt, your creditor has to sue you in court and win before a wage garnishment can happen. Downsides: 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. No monthly fees; no fee for cash reloads at Walmart. (888) 915-1973. See our list of the best savings accounts. Unsubscribe easily. The credits could take 36 to 48 hours to show up in your ONE VIP account. Before using a prepaid debit card, you must top it up with funds. Prepaid cards are typically associated with a national card network, such as Visa, MasterCard, American Express or Discover. Get more smart money moves straight to your inbox. Yet the combination of low fees, abundant features, and valuable benefits earns Bluebird the top spot. Well start sending you the news you need delivered straight to you. She previously edited content on personal finance topics at GOBankingRates. Best prepaid debit cards and alternatives: Summary, We analyzed four categories for each card: general fees and features, purchases and withdrawals, reload fees and options, and other services such as bill pay and savings accounts. Credit card reviews and listings offer convenience and dont charge many fees. Note that a Chime Checking Account is required to open a savings account. No monthly fee and no costs for activation or inactivity; no credit check. This keeps the monthly fee to just $5, with no fees for purchase transactions. If youre comparing options, use our guide to discover the best prepaid card for you. A prepaid card is relatively easy to get there is no credit check or minimum balance requirement. However, we may receive compensation when you click on links to products or services offered by our partners. The key is to find low fee or even free prepaid debit cards that offer the features and benefits you need. Charges a $4.95 monthly fee. 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. It offers a free debit card and a free secured credit card. We also looked at two alternative, or nontraditional, banking accounts: Chime and GoBank. One of the biggest free ATM networks among prepaid cards. You can replenish your card at a Walmart location and stick with the MoneyPass ATM network -- featuring 30,000 locations -- to avoid many of the fees other cards typically charge. Some fees, like ATM withdrawal fees, can be avoided by getting cash back at retailers. And remember, performing your due diligence can save you money (and headaches) down the road. Her work has been featured by Nasdaq, MSN, TheStreet and Yahoo Finance. Most prepaid debit card issuers allow funds to be loaded and reloaded by direct deposit, cash or bank transfer. Bluebird by American Express: Best for avoiding fees. Its free. Cash withdrawal and third-party fees may apply. 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. 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. Some cards in this roundup have nonbank program managers that partner with banks. No purchase fee. It is accepted anywhere that Visa debit cards are accepted. Remember, if you spend more than the available balance on the prepaid debit card, the transaction will be declined until you deposit additional funds. Manage your money easier with Green Dot Prepaid Cards. No cost to sign up and no monthly fees. Fifth Third Access 360 Reloadable Prepaid Card: Best for ATM withdrawals. Our partners cannot pay us to guarantee favorable reviews of their products or services. Separate set aside accounts for savings and up to four subaccounts for family members. 1. 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. Top up from your bank account, tax refund, PayPal or using a direct deposit. To get the card you must link a bank account to the card. 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. Clients have told me from time to time about very creative strategies to hold and spend cash off the books. Free family accounts up to four people. Plus, unlike many competitors, Truist doesnt charge cash reload or inactivity fees. And you get an additional 30 days for returns and exchanges. Extra is a debit card, not a prepaid card. To create this list, Forbes Advisor analyzed 34 prepaid cards from 28 providers, including a mix of traditional brick-and-mortar banks, online banks, credit unions and fintech companies. Past performance is not indicative of future results. You can set up direct deposit of your paycheck and automate savings with Chimes round-up feature.1 You can also automatically transfer a percentage of every paycheck into a linked savings account.1 A Chime Checking Account is required to be eligible for a Savings Account. You can use the card wherever its network is accepted. 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