Our insurance content may include references to or advertisements by our corporate affiliate HomeInsurance.com LLC, a licensed insurance producer (NPN: 8781838). 1Round Ups automatically round up debit card purchases to the nearest dollar and transfers the round up from your Chime Checking Account to into your savings account. 26 Feb Feb Sign up and well send you Nerdy articles about the money topics that matter most to you along with other ways to help you get more from your money. Read more. Charges a $1.95 domestic ATM cash withdrawal fee. Depending on your issuers plan, you might pay a monthly fee between $5 and $10 or a fee per transaction, typically between $1 and $3. Vanilla Prepaid Cards are simple prepaid cards you can use anywhere Mastercard or Visa is accepted. Sign up to receive our free weekly newsletter. Bluebird by American Express. American Express Serve Cash Back - Best turnaround time. He is a former litigation attorney in the securities field and the Founding Editor of Forbes Advisor. 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. Load money on the card that you can then spend. Reload card with direct deposit, a mobile check, reload locations or funds transfer. Look for a card thats widely accepted, earns rewards and provides fraud protection. Credit card reviews and listings Parents can preapprove where their kids spend money, so $300 earmarked for school supplies can only be spent at a campus bookstore, for example. Create and use digital Visa cards after registration. Once you open and fund your account, you can then create virtual debit cards in an amount that you choose. Get buying tips about Prepaid Cards delivered to your inbox. To help you sift through the options, weve compiled our top picks of the best reloadable prepaid debit cards. Four cards are free on the monthly plan, but more can be added for a one-time $3 fee per card. FamZoo is a family-friendly prepaid Mastercard that lets parents become virtual bankers for their kids, even those younger than 13. Besides Bankrate.com, her work has been featured in Business Jet Traveler, MSN, CheatSheet.com, Freshome.com and SimpleDollar.com. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. Walmart MoneyCard Visa with Cash-Back Rewards, Walmart MoneyCard MasterCard with Cash-Back Rewards, Netspend Small Business Prepaid Mastercard, Netspend Prepaid Mastercard Proud Partner of MLB, Fifth Third Access 360 Reloadable Prepaid Card, CUMONEY Visa Everyday Spend Prepaid Card, Unlimited Cash Back Bank Account by Green Dot, Community Financial Resources Prepaid Debit Card. We value your privacy. Greenlight Prepaid Mastercard: Best for parents (tie). Unlike with a credit card, you load funds onto prepaid cards before use. The Forbes Advisor editorial team is independent and objective. Serve rewards you with1% back on all your purchases, which hit your account as soon as the transaction settles. Prepaid cards make a lot of sense for some people, especially for those who live in underbanked communities. We value your privacy. ", "Out-of-network ATM withdrawal fees may apply except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM. Some banks and local credit unions also sell prepaid cards. ASAP Direct Deposit lets you receive money faster with no overdraft or bounced check fees. Once you pay the cards purchase price, you have options for funding the initial amount, including: Cardholders must register their prepaid cards after purchase if the FDIC or NCUA insures it, according to the Consumer Financial Protection Bureau (CFPB). . All of our top picks are authorized by ConsumerAffairs. Once you have your list of required features and know how youll use the card, find the lowest cost option that meets these requirements. Service fees may apply to reload at stores. Check out NerdWallets best free checking accounts. If you dont prepay, the fee is $5.99 for a monthly subscription. We examined nearly 70 options to help you find the best prepaid debit cards. This influences which products we write about and where and how the product appears on a page. No monthly fees; no fee for cash reloads at Walmart. This compensation comes from two main sources. Use in stores and online. 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). Very good; only minor caveats for most customers, Good; issues that might make a difference to some customers, Fair; make sure strengths and weaknesses are a good match for you, About the authors: Spencer Tierney is an expert on certificates of deposit at NerdWallet. You can also deposit funds through the Netspend app, which has check capture capabilities. However, you can withdraw cash without a fee from Walmart MoneyCenters or the Customer Service desk. February 27, 2023 . Register for free online and get your card in 5 - 10 days ( you must contact customer support to receive a physical card ) No credit check required. , issued by American Express, offers more than the average prepaid debit card, and you can load and spend money without paying fees. Earn up to 1% cash back. Jamela Adam is a personal finance writer covering topics such as savings, investing, mortgages, student loans, and more. You might be using an unsupported or outdated browser. Free withdrawals at Chase ATMs and free cash reload. ATM withdrawals: Free at ATMs in the MoneyPass network; $2.50 fee at other ATMs, plus any ATM operator fee. We also like that theres no enrollment or activation fee. Bluebird, issued by American Express, offers more than the average prepaid debit card, and you can load and spend money without paying fees. Here's a list of the best prepaid debit cards on the market today: Learn More Best Overall: BlueBird by American Express Pros No monthly fee or in-network ATM fees Free to load at Walmart Free online bill pay Cons $2.50 ATM fee for out-of-network ATMs $2,500 daily money transfer limit Fees are between $4 and $16 for money transfers The compensation we receive and other factors, such as your location, may impact what ads and links appear on our site, and how, where, and in what order ads and links appear. What Chime adds is an excellent app to help you manage your money. Currently, they report to Experian and Equifax. Greenlight stands out for a feature that other prepaid cards lack: store-specific spending controls. Minimum initial load of $25. 3% cash back at Walmart.com and in the Walmart app and other cash back rewards. Our content is intended to be used for general information purposes only. Chime has two automatic savings programs: one where a percentage of every paycheck automatically goes into the savings account and the other where your purchases are rounded up to the nearest dollar and the rounded-up change goes to savings (see below for more information from Chime). Content Management Specialist | Bank accounts, bank account bonuses. 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. Ink Business Cash vs. There are no costs for activation or inactivity. Green Dot Prepaid MasterCard This is a card with a simple fee plan. Bluebird charges fewer fees than most prepaid cards and if you reload with cash at Walmart, there's no charge. best prepaid debit card to avoid garnishment. Best for a spending cushion . Some of the most common reasons people end up regretting their prepaid cards are high fees, inconvenient funding and reloading methods. Prepaid cards with $0 purchase price. Another Amex option is Serve. The Bluebird by American Express prepaid debit card has the lowest fees of all the cards on this list. No usage fees. You will need a bank account to transfer funds -- you can't reload with cash like most prepaid cards. 2023 CNET, a Red Ventures company. Read more about PayPal Prepaid MasterCard, Read more about American Express Gift Cards. Funds from direct deposit, bank transfers, PayPal, tax refunds and government benefits can also be applied to the card. Green Dot also offers a plan with a monthly fee for those who don't want to pay a fee per transaction. Minimize initial purchase or setup fees. Bluebird by American Express - Editor's Choice. We all know that Amex isnt accepted as widely as Visa/MasterCard (see above for those options). If youre comparing options, use our guide to discover the best prepaid card for you. Plus, Regions Bank waives the $5 monthly fee if you use the card to make at least seven purchases during a statement period. His work has been featured by The Washington Post, USA Today, The Associated Press and the Los Angeles Times, among others. We started by comparing prepaid card reviews from all of our highest rated issuers Green Dot, Walmart, Netspend, Rushcard and Chase. 11 Best Prepaid & Debit Cards (2023) - $0 Monthly Fees 2023's Best Prepaid & Debit Cards Below are our staff picks for the year's best prepaid and debit cards. ; Members FDIC. Savings will earn 2% APY on up to $1,000 on the card enrollment anniversary. No wire transfers. Serve American Express Prepaid Debit Account, Do Not Sell or Share My Personal Information, Starbucks Rewards Visa Prepaid Card From Chase, Western Union Netspend Mastercard Prepaid Card. Prepaid cards are typically associated with a national card network, such as Visa, MasterCard, American Express or Discover. You could enable your children's spending with a prepaid debit card, while teaching them how to be responsible with money. Best with No Reload Fees: NetSpend Visa Prepaid Card. Message. approved or otherwise endorsed by the bank advertiser(s). Save When I Get Paid automatically transfers 10% of your direct deposits of $500 or more from your Checking Account into your savings account. But if you're fee averse, you're not totally out of options the Bluebird American Express Prepaid Debit Account could be a solid choice for you. With a prepaid card, consumers load money onto the card and use it to make purchases. Information in this guide is general in nature and is intended for informational purposes only; it is not legal, health, investment or tax advice. How to pick the best prepaid debit card for you? Directly deposit payroll, government benefits or tax return funds. Most prepaid cards will provide some services of a traditional checking account -- you can usually set up direct deposits, pay bills or deposit checks on your phone. But prepaid cards come with a number of fees you should keep your eye on, such as a monthly or reload fee. Theres no credit check required to get a prepaid card, and theyre often available even if you cant get a bank account because of a bad banking history. Cash deposit fees may apply if using a retailer other than Walgreens. With no monthly fees, this plan only charges $1.50 per purchase. Other services: Separate set aside accounts for savings and up to four subaccounts for family members. Given low purchase and withdrawal limits, its best as a family budgeting tool instead of a bank account replacement. You can also take advantage of PayPal Payback Rewards and earn on qualifying purchases from select merchants. Prepaid cards, also called stored-value cards, include gift cards and reloadable debit cards. Information provided on Forbes Advisor is for educational purposes only. This control over your finances helps you manage your spending and offers you peace of mind. ~Out-of-network ATM withdrawal fees may apply except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM. A prepaid card is relatively easy to get there is no credit check or minimum balance requirement. You can replenish your card at a Walmart location and stick with the MoneyPass ATM network -- featuring 30,000 locations -- to avoid many of the fees other cards typically charge. She is based in Portland, Oregon. You can use these cards at any online or physical location that accepts debit cards. NerdWallet Compare, Inc. NMLS ID# 1617539, NMLS Consumer Access|Licenses and Disclosures, California: California Finance Lender loans arranged pursuant to Department of Financial Protection and Innovation Finance Lenders License #60DBO-74812, Property and Casualty insurance services offered through NerdWallet Insurance Services, Inc. (CA resident license no. American Express Serve FREE Reloads - Best for Cash Users. See our criteria for evaluating banks and credit unions. Performance information may have changed since the time of publication. In addition, some prepaid cards will waive some or all of the monthly fee if you load a certain amount of money on the card via direct deposit. There are two plans to choose from starting at $20 a month or $200 a year. 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