Skip to toolbar

6 Best Prepaid Debit Cards

Prepaid debit cards can act as a budgeting tool or an all-out substitute for a bank account. Although charging few fees, the best prepaid cards provide convenience.

It is easy to get prepaid cards. There is no credit check. Even if you can’t get a bank account due to a poor banking background, they’re always open. You load funds into prepaid cards before using them, as with a credit card.

Some businesses now have mobile-optimized banking accounts. These do not need a squeaky-clean bank or credit history, often costing less than prepaid cards.

Prepaid Debit Card
Famzoo

Prepaid debit cards vs. regular debit cards

To get a prepaid debit card, you don’t need a bank account. However, it’s a prerequisite for a standard debit card that’s connected to your checking account. When you receive it, you fill the card with money for prepaid debit cards, and use it to make transactions. For daily debit cards, when you make payments, the funds for your payments are taken straight from your checking account.

Prepaid Debit Cards
Greenlight Prepaid

METHODOLOGICALS

We looked at 40 prepaid reloadable debit cards sold by some of the largest banks, credit unions and issuers of prepaid debit cards. Only the simple monthly fee plan was considered where multiple card plans existed.

For each card, we examined four categories: general charges and features, sales and withdrawals, fees and options for reloading, and other services such as bill pay and savings accounts. There was the best combination of these categories in the cards that made this list. Some cards have nonbank programme managers in this roundup who collaborate with banks. Nonetheless, all the issuers of the cards are banks that insure the money of customers through the Federal Deposit Insurance Corp. No of the above cards have overdraft fees.

Should you get a prepaid debit card?

At retail outlets (such as grocery stores and drug stores), online, over the internet, or from certain banks and credit unions, you can purchase prepaid cards. If you order the card online, a virtual card may be issued to you or you may receive a physical card in the mail at a later time.

A prepaid debit card is a card which already has funds on it, so the amount of money left on the card is the credit limit. For a certain limit, you don’t need to get approved as you would for a credit card. Instead, the amount you choose to be on the card is paid, and that becomes your cap. Online, and at most stores that allow a standard debit card, you can use a prepaid debit card. However, with a prepaid debit card, you usually can’t rent a car. The purchase is automatically deducted from the balance when you use the card to buy something.

Instead of getting a prepaid debit card, getting a debit card from your bank is normally easier. For a teenager or employee who you want to guarantee remains under the card’s cap, a prepaid debit card fits best. If one of those conditions applies to you, the charges might be worth it. In addition, if your credit is not the highest, or if, for whatever reason, you do not open a bank account, then the expense is worth a prepaid debit card. Before you get a prepaid debit card, only know all the related costs, so you’re not shocked by monthly fees, reload fees, or any other costs along those lines.

1

Cheapest

Editor’s Choice
<strong>Bluebird by American Express</strong>” src=”https://connect-tivity.com/wp-content/themes/rehub-theme/images/default/blank.gif” />                                                   
            </a>                             
        </div>
        <div class=

<strong>Bluebird by American Express</strong>

No monthly fees
Free ATM network
Great budgeting features
Bluebird, provided by American Express, has more than the average prepaid debit card in conjunction with Walmart, and you can charge and spend money without paying fees.
But when it comes to merchant acceptance, Bluebird has restrictions, and it doesn’t allow retailers to return cash.
General payments and characteristics: No annual fees and no web activation or inactivity expenses.
Purchases: No price.
ATM withdrawals: Free for MoneyPass network ATMs; $2.50 charge for other ATMs, plus any fee for ATM operators.
Methods of reloading: direct deposit, debit card transfer, card-to-card transfer, mobile check deposit (for immediate processing with a third-party fee), cash load at Walmart or other stores. (Up to $3.95 can be paid by retailers other than Walmart.)
Other features: check writing, separate savings “set-aside” accounts and up to four family member subaccounts.
Downsides: At supermarkets, no cash back. The card is issued by American Express, which is not approved wherever Visa and Mastercard are located.
2

Best For ATM Withdrawals

<strong>Movo Virtual Prepaid Visa Card</strong>” src=”https://connect-tivity.com/wp-content/themes/rehub-theme/images/default/blank.gif” />                                                   
            </a>                             
        </div>
        <div class=

<strong>Movo Virtual Prepaid Visa Card</strong>

No monthly fees
Instant transfers between cards
The majority of prepaid debit cards either charge you every month or every time you make a transaction, but neither does the Movo Virtual Prepaid Card. If you go without action for more than three months, the exception is that an inactivity fee of $ 4.95 is paid per month before there is activity. A “virtual” feature allows you to buy items online, and for in-person transactions, ATM withdrawals and cash back at stores, you can request a physical card.
General fees and characteristics: No recurring fees and no activation expenses; $4.95 inactivity charge.
Purchases: No price.
ATM withdrawals: $2 for ATMs on the Visa Plus Alliance network; for out-of-network ATMs, additional operator fees can apply.
Reload methods: direct deposit; bank account transfer; instant card-to-card transfer; mobile check deposit (instant processing with a third-party fee); cash load at Visa ReadyLink, MoneyPak and Reload @ Register locations, such as Walgreens or Safeway, retailers (for a fee set by the retailer).
Other services: There are free online bill payments. You can also create one-time secondary virtual cards (‘CASH Cards’) with their own card numbers for a fee. During purchases, these cards will secure your main account number. Apple Pay, Google Pay and Samsung Pay allow Movo to be used.
Downsides: Free ways to refill the card will take up to five business days, such as bank transfers; no free ATM network.
3

Best for Parents

Top Rated
<strong>Fifth Third Access 360° Reloadable Prepaid Card</strong>” src=”https://connect-tivity.com/wp-content/themes/rehub-theme/images/default/blank.gif” />                                                   
            </a>                             
        </div>
        <div class=

<strong>Fifth Third Access 360° Reloadable Prepaid Card</strong>

4 4
One of the biggest free ATM networks among prepaid cards
$4 monthly fee that’s easy to waive
The 360° prepaid debit card for Fifth Third Access is part of the vast U.S. network of Allpoint and has access to over 50,000 ATMs. In the 11 states where Fifth Third branches exist, this card is available, which is the only place you can get the card.
General fees and characteristics: $4 annual charge that is waived if you have monthly deposits or a Fifth Third checking account of $500 or more; no activation or inactivity costs.
Purchases: No price.
ATM withdrawals: Open at the Allpoint ATM network’s Fifth Third ATMs and ATMs; Free at Presto! ATMs within Publix stores and at 7-Eleven ATMs listed on the website or mobile app of the bank; fees of $2.75 for other ATMs, plus any operator fees for ATMs.
Methods of reloading: Direct deposit, bank transfer, Fifth Third branch or ATM cash load.
Other services: There could be joint owners of the pass.
Downsides: To add cash, there is no access to a national shopping network; the card is not available in every state; and there is no separate savings option on the card.
4

Best for shopping at Walmart

Best Deal
<strong>FamZoo Prepaid Card</strong>” src=”https://connect-tivity.com/wp-content/themes/rehub-theme/images/default/blank.gif” />                                                   
            </a>                             
        </div>
        <div class=

<strong>FamZoo Prepaid Card</strong>

2.50 5.99
Multiple subaccounts for kids
Costs $2.50-$5.99 per month
FamZoo is a family-friendly prepaid Mastercard that lets parents, including those younger than 13, become virtual bankers for their kids. Four cards can be part of a single monthly package, but for a one-time $3 per card charge, more can be added. You can send allowances, break payments, see balances and behaviour across all cards and set up text and email updates from the website or app.
General charges and features: For two years of FamZoo, you can pay $59.99 in advance, which averages out to $2.50 a month. Other prepayment plans have a discount as well. For a monthly subscription, the fee is $5.99; no activation or inactivity expenses.
Purchases: No price.
ATM withdrawals: No FamZoo charge, but ATM operator fees may be applicable.
Reload methods: direct deposit; bank transfer; PayPal transfer; transfer of PopMoney (for a fee); add cash (up to $6 retail fee) to stores such as 7-Eleven and Walgreens participating in the Reload @ the Register, MoneyPak and Mastercard rePower networks.
Other services: multiple accounts under one plan, free and immediate card-to-card transfers from FamZoo, capacity to lock and unlock FamZoo cards, tools for budgeting.
Downsides: Not part of any ATM network; higher than average overall monthly fee; no deposit feature for mobile checks.
5

Best Alternatives to Prepaid

<strong>Greenlight Prepaid Mastercard</strong>” src=”https://connect-tivity.com/wp-content/themes/rehub-theme/images/default/blank.gif” />                                                   
            </a>                             
        </div>
        <div class=

<strong>Greenlight Prepaid Mastercard</strong>

4.99 4.99
Subaccounts for kids
Store-specific spending controls
Monthly fee from $4.99
Greenlight stands out for a feature that is absent in other prepaid cards: controls for store-specific spending. Parents will pre-approve where their children spend money, so, for instance, $300 allocated for school supplies can only be spent at a campus bookstore. Real-time activity warnings, free card-to-card transfers for allowances and the ability to lock missing cards remotely are also provided by the prepaid card.
There can be up to five sub-accounts on a Greenlight account, so it works for a family. It’s better as a family budgeting tool instead of a bank account substitute, provided low purchase and withdrawal limits.
General fees and characteristics: $4.99 to $9.98 per month, depending on the preferred plan (more costly options provide characteristics such as investment education and identity fraud protection); no activation, inactivity or account closing costs.
Purchases: No price.
ATM withdrawals: No Greenlight fees, but ATM operator fees may be available.
Methods of reloading: direct deposit, transfer of a debit card, bank transfer.
Other services: up to 5 sub-accounts, no withdrawal charge from the international ATM.
Downsides: It is not possible to deposit checks or cash; $1,000 is the maximum daily purchase per family account and $100 is the daily ATM withdrawal limit, which is much smaller than the average for prepaid cards.
<strong>Walmart MoneyCard</strong>” src=”https://connect-tivity.com/wp-content/themes/rehub-theme/images/default/blank.gif” />                                                   
            </a>                             
        </div>
        <div class=

<strong>Walmart MoneyCard</strong>

3% cash back at Walmart.com and in the Walmart app and other cash back rewards
Multiple subaccounts for family members
2% APY on up to $1,000 in savings account
The Walmart MoneyCard provides cash-back incentives to its customers of up to $75 a year: 3% for purchases made at Walmart.com and in the Walmart app, 2% at Walmart service stations and 1% at Walmart shops. To receive fee-free cash reloads at Walmart stores, the app, which gets good reviews, is mandatory. Fee-free money withdrawals are also offered by Walmart MoneyCenters and Customer Service desks.
This reloadable, prepaid card is family-friendly. For up to four additional individuals who are at least 13 years old, you may order an account for free. A free “Vault” savings feature is offered by the Walmart MoneyCard. Savings will receive 2 percent APY on the card enrollment anniversary for up to $1,000.
Because it’s not part of an ATM network, in addition to any operator fees, you’ll pay $2.50 for ATM withdrawals.
General fees and features: $5.94 waived monthly fee with a minimum $1,000 monthly deposit; payment fee of $1 starter card if bought in store; no inactivity fees.
Purchases: No price.
Withdrawals from the ATM: $2.50 fee, plus any operator costs.
Methods of reloading: free from your current bank account; free to add cash at Walmart stores through the Walmart MoneyCard app; free mobile check deposit; free to add funds from checks cashed at Walmart stores; otherwise, $3 to reload cash at a Walmart store; up to $5.95 to reload elsewhere.
Other services: up to four extra free accounts; savings plan for the first $1,000 with 2 percent APY, and chances of winning monthly cash prizes; ability to lock and unlock your card via the app; updates by text and email.
Downsides: charge to use ATMs; restricted reloading methods for funds
Connect-tivity
Logo
Enable registration in settings - general
Compare items
  • Total (0)
Compare
0