No monthly fees; no fee for cash reloads at Walmart. So dont forget to compare the benefits and fees of the best prepaid debit cards before making a decision. Extra is a debit card, not a prepaid card. It's easy to apply for the Emerald card, and there is no setup fee or annual fee. Earn cash back through the PayPal rewards program. And while our site doesnt feature every company or financial product available on the market, were proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward and free. Sign up to receive our free weekly newsletter. It offers free direct deposit, cash loads at more than 130,000 locations, and a relatively low monthly fee. With no monthly fees, this plan only charges $1.50 per purchase. Free family accounts up to four people. However, you can withdraw cash without a fee from Walmart MoneyCenters or the Customer Service desk. ATM withdrawals: $2.50 fee, plus any operator fees. Fifth Third Access 360 Reloadable Prepaid Card. Thank you, you have successfully subscribed to our newsletter! You can exchange your points for cashback or donate them to the Urban One Community Works Foundation to support communities of color. $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. What are the best prepaid debit cards? All financial products, shopping products and services are presented without warranty. Yes, you can pay your credit card bill with a prepaid card. Finally, get paid up to 2 days faster with direct deposit. This low-fee prepaid card is ideal for those who frequent Walmart. 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). 2% APY with savings up to $1,000. Prepaid cards, also called stored-value cards, include gift cards and reloadable debit cards. , Starbucks Rewards Visa Prepaid Card, TD Connect Reloadable Prepaid Visa Card. There is a monthly fee, but its as low as $2.50 a month, and its for the entire family. RushCard is a prepaid Visa card that lets consumers load their own money onto the card. Bluebird, issued by American Express, offers more than the average prepaid debit card, and you can load and spend money without paying fees. Best with No ATM Fees: Serve American Express Prepaid Debit Account. Here are the 5 best prepaid debit cards of 2022: Best overall: Bluebird American Express Prepaid Debit account. Reload methods: Direct deposit, debit card transfer, bank transfer. Its one of the best free prepaid debit cards available today. A prepaid debit card for international travel also lets consumers make more secure purchases when spending abroad. Offers FREE consultation! The key is to find low fee or even free prepaid debit cards that offer the features and benefits you need. Children see just their accounts while parents see all transactions from all family members. General fees and features: No monthly fees and no costs for online activation or inactivity. Chime says: "Chime is a financial technology company, not a bank. The Bluebird by American Express prepaid debit card has the lowest fees of all the cards on this list. Free reloads and ATMs. 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. 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. More from NerdWallet: What is a debit card? NOTE: Before we get to prepaid cards, you should consider Chime. Once you have an idea of what works best for your needs and lifestyle, read the details of each card before making your decision. $4 monthly fee that's reasonably easy to waive. The Greenlight debit card is available for kids of all ages and provides tutorials about money management. All prepaid debit cards have some type of fee. 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. Editorial Note: We earn a commission from partner links on Forbes Advisor. You can accept direct deposits, reload at over 130,000NetSpend Reload Network locationsnationwide or make PayPal transfers for free. Serve rewards you with1% back on all your purchases, which hit your account as soon as the transaction settles. Walmart Money Cards. These accounts provide another shot at mainstream banking and its perks. Best prepaid debit card for reload options. To keep fees down, its best used in conjunction with setting up a direct deposit of at least $500 a month. You can use the card wherever its network is accepted. A prepaid debit card is not linked to a bank account, so you can only spend as much as the available balance. For features, we looked at each cards money management tools, mobile apps, and customer service. The. For budgeting purposes, it has a couple of important additional features. advertiser(s) Affiliate Program(s). Charges a $9.95 monthly fee and $3 ATM fee. 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. It is accepted anywhere that Visa debit cards are accepted. Best Prepaid Debit Cards. 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 editorial content on this page is based solely on objective, independent assessments by our writers and is not influenced by advertising or partnerships. or Stride Bank, N.A., Members FDIC. There is a $5.94 monthly fee. 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. 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. Besides Bankrate.com, her work has been featured in Business Jet Traveler, MSN, CheatSheet.com, Freshome.com and SimpleDollar.com. 2023 CNET, a Red Ventures company. Charges ATM cash withdrawal fees up to $0.85 per transaction. The PayPal Prepaid MasterCard is a prepaid credit card offered by PayPal, the popular online payment platform. Pre-qualified offers are not binding. We also like that theres no enrollment or activation fee. Judgment creditors would love . financial product comparisons. However, you can use the card year-round. Parents can transfer funds instantly to a childs account, ideal when paying for chores or allowance. This compensation comes from two main sources. Parents can preapprove where their kids spend money, so $300 earmarked for school supplies can only be spent at a campus bookstore, for example. Some require photo identification and charge an activation fee up to $10 for loading the initial funds onto the card. or Stride Bank, N.A. 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. Written by: Eric Bank Edited by: Lillian Guevara-Castro Reviewed by: Ashley Dull It comes with a budgeting tool that enables you to track your money and set spending limits. This influences which products we write about and where and how the product appears on a page. No purchase fee. And HomeInsurance.com LLC may receive compensation from third parties if you choose to visit and transact on their website. Instead, Extra pulls the money you spent from your bank account the next business day. Check your account balance, review transactions and load checks through the app. Second Chance Checking Accounts Across the U.S. How Do Prepaid Debit Cards Work and Are They Right For You? Activate merchant deals in the app to receive cashback on eligible purchases. To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website. Offers prepaid debit card with no minimum balance requirement. Another Amex option is Serve. Prepaid debit cards might have fees or limits on deposits and withdrawals. Jamela Adam is a personal finance writer covering topics such as savings, investing, mortgages, student loans, and more. You can buy prepaid cards at most grocery and convenience stores, online and over the phone. Plus, unlike many competitors, Truist doesnt charge cash reload or inactivity fees. FamZoo Prepaid Debit Card - Best card for Families. Read more. To determine which cards made our list, we considered each cards fees and features. Unsubscribe at any time. Cash withdrawal and third-party fees may apply. Charges a monthly plan fee of $4.95. You'll receive a Mastercard number you can add to your digital wallet to make payments and deposits through the mobile app. No minimum balance required. There are several ways to do so. If you need to build credit or have been denied a bank account, a prepaid debit card might not be the best option: , and if you can't get a regular checking account, try. The one drawback to this card is that there are no free ATM withdrawalsthey cost $2.50 each. You can withdraw money from MoneyPass ATMs for free. The cards that made this list had the best combination of these categories. Our partners compensate us. annual percentage yield. Pay rent or expedite bill payments online. Some fees, like ATM withdrawal fees, can be avoided by getting cash back at retailers. 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. Prepaid cards make a lot of sense for some people, especially for those who live in underbanked communities. No, a prepaid card is not a credit card or charge card. When evaluating offers, please review the financial institutions Terms and Conditions. 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. Our insurance content may include references to or advertisements by our corporate affiliate HomeInsurance.com LLC, a licensed insurance producer (NPN: 8781838). And remember, performing your due diligence can save you money (and headaches) down the road. Most prepaid debit card issuers allow funds to be loaded and reloaded by direct deposit, cash or bank transfer. So how do we make money? Learn more about how prepaid debit cards work. Its not a prepaid card, its better. Given low purchase and withdrawal limits, its best as a family budgeting tool instead of a bank account replacement. The more significant difference between a prepaid or reloadable debit card and a credit card is that prepaid cards only give the cardholder access to their balance of preloaded funds. 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. Ink Business Premier, Capital One Venture vs. Capital One Quicksilver, Chase Freedom Unlimited vs. Chase Sapphire Preferred, Western Union Netspend Mastercard Prepaid Card. Information provided on Forbes Advisor is for educational purposes only. How to pick the best prepaid debit card for you? These accounts provide another shot at mainstream banking and its perks. Best for cash rewards: Netspend Visa Prepaid card. She has over a decade of experience writing and editing for consumer websites. This site may be compensated through the bank Vanilla Prepaid Cards are simple prepaid cards you can use anywhere Mastercard or Visa is accepted. FamZoo is a family-friendly prepaid Mastercard that lets parents become virtual bankers for their kids, even those younger than 13. Everything else about the prepaid card is fairly standard. Determine what features you need and how youll use the card. We constantly monitor our competition, user activity, and journalistic awards. Find our top partner offers for the best prepaid debit cards with the lowest fees and the most features below. To get the card you must link a bank account to the card. . 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