Best Prepaid Debit Cards In USA
Prepaid debit cards can be used to make purchases instead of credit or debit cards. They let you spend up to the amount placed on your card, which can be replenished. This article outlines the Best Prepaid Debit Cards In USA.
Watch the below video on Best Prepaid Debit Cards In USA:
The prepaid debit card market is fragmented, thus no single entity can dominate it. But Allied Marketing Research predicts an 18.2% CAGR from 2021 to 2030.
Prepaid debit cards are a great option if you can’t have a standard bank account with a debit card. Consider one if you’re worried about credit card debt. Prepaid cards can also be used as a budgeting tool when combined with the other two.
Here are 5 list of Best Prepaid Debit Cards In USA.
Bluebird by Amex
* No monthly maintenance, activation, or online card transactions fees
* Purchase protection, roadside assistance, more Amex Offers
* Cash reloads, direct deposit, debit card transfers, and mobile check deposits are all free at Walmart.
Disadvantages:
* No incentives
* Cash reloads at other stores may impose a fee
If you’re on a budget or don’t want to pay for debit card access, Bluebird is a good option. You can set up sub-accounts for family members, each with their own card.
American Express Reloads
For additional information, visit www.walmart.com/cardloading.asp. Direct deposit and bank account transfers are also available.
* Over 30,000 fee-free ATMs * Purchase protection for eligible purchases
Cons * $6.95 monthly cost (no fee in NY, TX, or VT) * Mobile check deposits take 10 days unless you pay a fee
If you don’t have a checking account, Amex Serve Free Reloads are a great solution. You can also create free family sub-accounts.
MoneyCards
The Walmart MoneyCard App, direct deposit, mobile check deposit, and bank transfer are all free ways to reload your Walmart MoneyCard.
Cons
* Annual cost is $75
* Monthly fee is $5.94 if you don’t load $500 or more
* All ATM withdrawals are $2.50
* Mobile check deposit takes five days
The Walmart MoneyCard is one of the few prepaid cards that offers incentives. A monthly cost may not be removed, but the annual rewards make up for it. The main disadvantage is the fees you’ll have to pay if you need to use ATMs.
Amex Serve Cash Back
Pros
* Unlimited 1% cashback on all purchases Over 30,000 fee-free ATMs
* Free reload options include direct deposit, bank transfers, and mobile check deposit.
In New York, Texas, and Vermont, there is no monthly fee. Cash reloads cost up to $3.95.
Unlimited 1% cashback isn’t great for credit cards, but it’s great for prepaid debit cards. The American Express Serve Cash Back charges a $7.95 monthly fee, which is offset by monthly spending of $795 or more.
Prepaid FamZoo Card
Pros
* Parents can lock and unlock cards and encourage youngsters to save with interest paid from the parent’s account
* You can tie transfers to allowances and chores or even construct a non-monetary rewards system
* Free ATM access
Not all prepaid cards allow for sub-accounts. But it has several features that might help parents teach their kids about money.
Best Prepaid Debit Cards In USA: Conclusion
If you pay your bills on time and in full every month, want to earn rewards and other perks, or need to establish credit, a credit card may be a good choice. If you’re not careful, credit cards can easily lead to debt.
Finally, a standard debit card is a good option if you can obtain a checking account and don’t need any other budgeting tools. If not, consider a prepaid debit card.
