What is a Prepaid Card?
Prepaid debit cards are actually the most amazing alternative to traditional bank accounts. They allow you to perform all the traditional banking functions like direct deposits, bill payments, and bank transfers among others online. All the debit card options that we have listed below for you offer great perks. The only thing that you need to consider before applying for a debit card is the fee that they charge.
What are the Features of Prepaid Cards?
There are different types of debit cards available with different banks. While applying for one, you should look for the following features in the card to get the most out of it.
• Flexibility to pay bills and spend on purchases
• Convenient options to lead the card online
• No interest or charges on direct deposits
• Nominal monthly fees
• Online connections and retail network association
• Widely accepted
• Ability to send or transfer money to family and friends through mobile devices or online portal
What are the Top 5 Prepaid Cards?
American Express Serve Reloads
Another version of American Express Serve, this card has a network of over 45,000 locations to reload including Dollar General, Wal-Mart, 7 Eleven, Family Dollar, CVS Pharmacy and Rite Aid among many others. Some of the perks offered with this card are:
• No reload fees
• No fee to add money in a card from a bank account
• Access to free early direct deposits and online bills payments
• Fraud protection
• Free ATM withdrawals at MoneyPass ATMs
• Free subaccount, card replacement, and other customer services
American Express Serve Cash Back
American Express Serve Cash Back card is a must if you are planning to spend more than $600 per month on your prepaid card. You will get one percent cashback on each purchase that you will make using this prepaid card up to unlimited transactions and after spending a total of $595, you will break even on the monthly fee that you will be paying of $5.95. Some of the perks of this card include:
• Fraud protection
• Free in-network ATM withdrawals
• 90-days purchase protection for purchases up to $1,000
• Free direct deposits
• Any time cash reward redeeming option
Blue Bird
If you are looking to get a plastic money option for your teenager, then Blue Bird prepaid card by American Express is the best option as it allows you to get family accounts and the fees charged on various services offered with this card are also very minimal. In fact, you can get the card free of cost if you purchase it online. Some of the perks that you get on purchasing this debit card include:
• Zero activation fees
• Zero monthly and annual fees
• Free direct deposits and online bank transfers
• Free use of card for purchases at Wal-Mart
• No fees for ATM withdrawals within the MoneyPass network
• No transaction fees for transfers within the Blue Bird debit cards
• No fees on online bill payments
• No fees on international transactions
• Fraud protection
Chase Liquid Card
You can apply online for the Chase Liquid Card if you are a U.S. citizen with a postal address and social security number or you can apply for the debit card at any of the branches if you are not a resident of U.S. Some of the perks of using this prepaid card are:
• Free access in all Chase branches and ATMs
• Zero card purchase fees
• Zero activation fees
• Free withdrawals at Chase ATMs
• Ability to deposit cash or cheques at any of the Chase branches or ATMs
• Ability to deposit cheques or transfer funds from phone
Akimbo Prepaid MasterCard
With Akimbo Prepaid MasterCard, you can create a separate debit card according to each of your budget goals and you can manage each of the cards that you have issued through the Akimbo mobile app. The first sub-account card that you will apply for will be completely free of cost and for every subsequent card, you will have to pay a one-time fee of $4.95. Some of the benefits that you will get with the Akimbo cards are:
• Ability to schedule weekly autoloads
• Ability to disable and enable any of the cards at any time through the app
• Zero monthly fees
• Zero enrolment fees
• Free transactions for signature purchases
