PERSONAL FINANCE BLOG

Money shouldn´t stop making your plans come true. Learn how personal loans can help you!
best prepaid cards
19 Jul 2018

Need a Prepaid Debit Card? Here Are Your Best Options

If you’re the type of person that likes to avoid using bank accounts, then you may need to consider using a prepaid debit card.

It makes paying bills and other purchases more convenient in a fast-moving technological era. Many retailers accept prepaid debit cards just as any other debit card or credit card so you can shop confidently without worrying about losing cash.

But, what are the best prepaid cards? Of course, the best prepaid debit card for you may not work for one of your relatives or co-workers. Make sure you complete thorough reviews of each card that you consider before signing up to be sure it really is the best prepaid card for you.

In this article, we’re briefing over several different prepaid cards that are getting good reviews in 2018. It should give you a good idea of what to look out for before you make a final decision.

The Best Prepaid Cards of 2018

A good prepaid debit card doesn’t cost an arm and a leg and has various conveniences that make it worth keeping in your wallet. It should be widely accepted at various retail networks and online merchants. Above all, it should be easy to use with exceptional customer service, especially if it gets lost or stolen.

Here are the prepaid debit cards that made the cut for this year’s review.

American Express Serve

This card charges $1 per month for unlimited transactions and spending limits. You can get this fee waived with direct deposit and loading just $500 onto your card each month. You also have the added convenience of loading your card at CVS and 7-Eleven stores.

Bluebird by American Express

This card is offered by American Express in partnership with WalMart. There are no regular fees and free ATM withdrawals in the MoneyPass network. You can load your card via direct deposit, debit card transfer, mobile check deposit, or any WalMart nationwide.

Fifth Third Access 360 Reloadable Prepaid Card

This card requires a $4 monthly fee. You can have this fee waived if you become a banking customer or add more than $500 per month to your card. There are no fees to sign up, nor for adding, withdrawing, or transferring funds.

Chase Liquid Card

This card is only available in 23 states so you’ll need to check whether or not it’s available in your area. It’s a good option for a prepaid debit card if it is available.

There is a $4.95 monthly fee, but there are no hidden fees. You’ll enjoy free ATM withdrawals at Chase ATMs nationwide.

However, be careful because you’ll pay $2.50 for withdrawals at ATMs that are not with a Chase bank.

24K Prepaid Visa Rush Card

This card offers all the benefits of using a Visa debit card. All you need is a valid ID to obtain the card. It also comes with a maintenance fee that you’ll need to get started.

You’ll enjoy real-time security alerts and notifications when your funds are running low and added protection if your card is lost or stolen.

PayPal Prepaid MasterCard

You’ll only pay $4.95 per month for the PayPal debit card which is comparable to many banking fees for checking accounts. You can transfer money directly from your PayPal account to your debit card or use direct deposit, or both.

This card is referenced as one of the best prepaid debit cards on the market because of it’s versatility and online compatibility.

Western Union NetSpend Prepaid MasterCard

The best benefit, aside from free deposits, is the ability to accept Western Union money transfers directly to your debit card without charge. This is a significant saving if you receive funds regularly.

You can pay as you go with no monthly fee. You will be charged $1 for each purchase that requires a signature and $2 for each PIN transaction thereafter.

MOVO Virtual Prepaid Visa Card

This card doesn’t require a credit check and there are no fees for activation. You’ll also enjoy a free monthly service. Virtually the only time you’ll get charged is when you withdraw cash from an out of network ATM for $2.

There are only 6,000 ATMs in the preferred network that MOVO uses, so this may be a bad option if you withdraw cash frequently.

NetSpend Visa Prepaid Card

The NetSpend Visa Prepaid card is a popular option among consumers for its ease of use. You can choose from three different tiers depending on your transaction habits. Your funds are FDIC insured and you can use the ‘online banking’ feature, which is convenient and practical.

READYdebit Visa Prepaid Card

You’ll enjoy free online bill pay and direct deposit with this card. You can also use it to get cash back with purchases and depending on which card you choose, you may be able to waive sign-up and monthly fees. Deposits are guaranteed with the FDIC.

Akimbo Prepaid MasterCard

The fees on this card can be a little bit tricky depending on your spending habits. Make sure to read all the print before you start running your card everywhere you go. Otherwise, there is no monthly fee and no credit history required to obtain this card.

FamZoo Prepaid Debit Card

For families, the FamZoo prepaid debit card is a good option. You can get up to four or more cards as part of one monthly plan that costs anywhere from $2.50 to $5.99 per month. There are no fees on purchases and you can easily load it using various channels.

Final Thoughts

The best prepaid cards come in all different styles to fit any budget. Some things to look for in a prepaid card include convenient card loading options, flexible ways to spend money and pay bills, and free direct deposit. Additional features may include the ability to send money to family or friends via mobile or online access.

There are obviously a lot of cards to choose from and they all offer their own unique benefits to users with different preferences. Watch out for high fees that offset any good reason for using the card so that you can maximize your budget. If you’re using a prepaid debit card while working on improving your credit, make sure you’re spending wisely so that these habits will reflect in your credit, too.