8. Our partners cannot pay us to guarantee favorable reviews of their products or services. It works with Apple Pay, and there are no transaction fees, foreign transaction fees or overdraft fees. Funds never expire. This site may be compensated through the bank Parents can set up a chore list through the app and kick some money over when they're completed. 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. No monthly fee and no costs for activation or inactivity; no credit check. 6 of 11. Companies displayed may pay us to be Authorized or when you click a link, call a number or fill a form on our site. You might be using an unsupported or outdated browser. Charges a $1.95 domestic ATM cash withdrawal fee. Spencer Tierney is a consumer banking writer at NerdWallet. A prepaid card works like a debit card, but a prepaid card isnt connected to a checking or savings account. Open-looped Prepaid Cards Linked to Social Security Number (SSN). 26 Feb Feb 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. 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. She has written and edited content on personal finance topics for more than five years. February 27, 2023 . 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. How to pick the best prepaid debit card for you? The prepaid card also offers real-time activity alerts, free card-to-card transfers for allowances and the ability to remotely lock lost cards. Regardless, all the cards issuers are banks that insure consumers money through the. You can also receive instant transaction alerts and lock your debit card if you lose it. Four cards are free on the monthly plan, but more can be added for a one-time $3 fee per card. Prepaid debit cards let you enjoy the convenience of paying by card without a line of credit or a bank account. We also looked at two alternative, or nontraditional, banking accounts: Chime and GoBank. Prepaid debit cards might have fees or limits on deposits and withdrawals. Directly deposit payroll, government benefits or tax return funds. Other prepayment plans also offer a discount. A prepaid debit card for international travel also lets consumers make more secure purchases when spending abroad. Bank-issued Prepaid Cards. $4 monthly fee that's reasonably easy to waive. Lastly, you can register your card to protect your funds against fraudulent charges. Best with No Monthly Fees: Brinks Prepaid Mastercard. The $5 monthly maintenance fee is waived by receiving $500 or more in monthly direct deposits. Simply put, the card comes with virtually no fees. When evaluating offers, please review the financial institutions Terms and Conditions. Unlimited cash back account earns 3% cash back plus 3% APY for savings. 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. Some issuers provide access to instant debit cards online that use virtual card numbers. The compensation we receive may impact how products and links appear on our site. She is based in Portland, Oregon. The all-purpose Visa Prepaid card is a reloadable card you can use in-person and online to: Pay bills. Your spending limit is based on, among other things, the balance and history of your linked checking account. Something went wrong. 2% APY with savings up to $1,000. Website. But Bluebird does have limits when it comes to merchant acceptance, and it doesnt allow cash back at retailers. The pay-as-you-go plan has no monthly fees but costs $1.50 per transaction. Charges ATM cash withdrawal fees up to $0.85 per transaction. The funds you add to the card are available right away for spending. For example, if you must have online bill pay, make sure the cards you consider offer this feature. Our ratings take into account a product's rewards, fees, rates and other category-specific attributes. Our partners compensate us. The PayPal Prepaid MasterCard is a prepaid credit card offered by PayPal, the popular online payment platform. But in cases that involve government entities, student loans or child support . Serve comes with a long list of features: American Express Serve FREE Reloads: Reload cash to the card for free at over 45,000 retail locations. See our criteria for evaluating banks and credit unions. This control over your finances helps you manage your spending and offers you peace of mind. Readers are part of the CNET family, and the strength of that relationship is the ultimate test of our success. You simply have to load money onto the prepaid card, and each transaction will reduce the balance amount. Information in this guide is general in nature and is intended for informational purposes only; it is not legal, health, investment or tax advice. 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.. Some cards in this roundup have nonbank program managers that partner with banks. Load money on the card that you can then spend. Prepaid cards make a lot of sense for some people, especially for those who live in underbanked communities. 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. Generally, yes. Best with No Reload Fees: NetSpend Visa Prepaid Card. Manage your money from your mobile device through the app. * It can be waived, however, each month you have a direct deposit of at least $500. You can also receive instant transaction alerts and lock your debit card if you lose it. Since these cards are linked to a savings or checking account, debt collectors can easily find this card in your credit report. Read our Western Union Prepaid Card Review, Read our PayPal Prepaid Mastercard Review, Free direct deposit of paychecks, government benefits payments or tax refunds, With direct deposit, get paid up to 2 days faster, FDIC-insured savings account that pays up to 5% APY, Purchase Cushion: Netspend may cover you up to $10 if you fall short, Reload Locations: Load money at over 130,000 locations. Service fees may apply to reload at stores. Walmart Money Cards. Multiple accounts under one plan, free and instant FamZoo card-to-card transfers, ability to lock and unlock FamZoo cards, budgeting tools. In a digital world, information only matters if it's timely, relevant, and credible. It has not been provided or commissioned by any third party. Sign up to receive our free weekly newsletter. Cynthia splits her time between Los Angeles, CA and San Sebastian, Spain. More from NerdWallet: What is a debit card? All prepaid debit cards have some type of fee. Who Is Eligible for a Prepaid Debit Card? Jamela Adam is a personal finance writer covering topics such as savings, investing, mortgages, student loans, and more. You can reload the card at more than 130,000 Netspend reload network locations. Parents can lock and unlock accounts. Other services: Separate set aside accounts for savings and up to four subaccounts for family members. The Best Prepaid Cards 1. Offers travel protection and 24/7 customer service. Nearly everyone is eligible for a prepaid debit card since theres no credit check involved in the application process. We dont charge you for our services. However, not all debt collectors follow these rules, so it's best to avoid postdated checks. However, you typically cant pay for a reloadable debit card with a credit card. You can find more details of this new rule here. The card offers online bill pay, mobile check deposit, free direct deposit, and a mobile app. , Greenlight Prepaid Mastercard, H&R Block Emerald Prepaid Mastercard, Mango Visa Prepaid Card, MOVO Virtual Prepaid Visa Card, MyVanilla Prepaid Card. Advertising Disclosure: allCards.com is an independent, advertising-supported blog offering We all know that Amex isnt accepted as widely as Visa/MasterCard (see above for those options). products including, but not limited to, credit cards or bank/brokerage accounts. Thats not to say the card is perfect. Prepaid cards are typically used by consumers who either don't have a traditional bank account or cant get a credit card due to poor credit history. Pay rent or expedite bill payments online. Walmart MoneyCard - Best for Walmart Shoppers. Reload methods: Direct deposit, debit card transfer, bank transfer. CNETs compensation is never tied to whether you purchase an insurance product. Other fees include reload charges, which can cost as much as $6 per transaction and ATM withdrawals of $2.50 on average. Some cards in this roundup have nonbank program managers that partner with banks. *Please see site for full terms and conditions. It is accepted anywhere that Visa debit cards are accepted. Cash deposit fees may apply if using a retailer other than Walgreens. 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. The downside is that the $6.95 monthly fee cant be waived, even with direct deposit. or Stride Bank, N.A., Members FDIC. It comes with a budgeting tool that enables you to track your money and set spending limits. Disclaimer: NerdWallet strives to keep its information accurate and up to date. Scroll Down . 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. Earn cash back through the PayPal rewards program. or Stride Bank, N.A. Fifth Third Access 360 Reloadable Prepaid Card: Best for ATM withdrawals. You use a prepaid card to make purchases in stores, shop online and pay bills. Bluebird by American Express: Best for avoiding fees. Create and use digital Visa cards after registration. These cards are accepted almost everywhere, and they let you avoid overdrafts and the hassle of carrying cash. Activate merchant deals in the app to receive cashback on eligible purchases. 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. He has covered personal finance since 2013, with a focus on certificates of deposit and other banking-related topics. 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. 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. No usage fees. , 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. You can create a family account with up to 4 additional cards, and setting spending limits on each card. With Walmart Rapid Reload, funds are typically available within 10 minutes. Ink Business Premier, Capital One Venture vs. Capital One Quicksilver, Chase Freedom Unlimited vs. Chase Sapphire Preferred, Western Union Netspend Mastercard Prepaid Card. Use anywhere in the United States that accepts Visa. Information provided on Forbes Advisor is for educational purposes only. Plus, Regions Bank waives the $5 monthly fee if you use the card to make at least seven purchases during a statement period. Bluebird by American Express | Our Top Pick Best for No Monthly Fee. American Express Serve offers three prepaid debit card options. Free reloads and ATMs. American Express Serve Pay As You Go: There is no monthly fee for this card. Greenlight stands out for a feature that other prepaid cards lack: store-specific spending controls. Track transactions 24/7 with mobile app. We are an independent publisher. Her work has been featured by Nasdaq, MSN, TheStreet and Yahoo Finance. Monthly fee:$6.95ATM Fee:Free at MoneyPass ATMs or $2.50 elsewhereReload fee:$0Cash reload limits:$20 to $500Other fees:Card purchase is $1.50 at retail stores or free if ordered onlineReload locations:Over 45,000 across the US. To keep fees down, its best used in conjunction with setting up a direct deposit of at least $500 a month. No monthly fee with balance over $1,000. The card is free to get, has no monthly fees, is FDIC insured, and offers free direct deposit. Charges a $4.95 monthly fee. And once you've verified your email address, you can pay bills and set up recurring payments. 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. Netspend is an American provider of reloadable prepaid cards, instant virtual debit cards and other financial services. If a popular product is on store shelves, you can count on CNET for immediate commentary and benchmark analysis as soon as possible. This low-fee prepaid card is ideal for those who frequent Walmart. This prepaid, reloadable card is family-friendly. No minimum balance required. Here are our top prepaid debit cards based on fees and features. Cash withdrawal and third-party fees may apply. His work has been featured by The Washington Post, USA Today, The Associated Press and the Los Angeles Times, among others. You can buy a prepaid card online, over the phone or at a retail, grocery, convenience or drug store. Associated Press and the hassle of carrying cash provider of reloadable prepaid card, and let... Card in your credit report shelves, you can then spend a budgeting tool that enables to... Writer covering topics such as savings, investing, mortgages, student loans or child support cant. 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