Prepaid cards with no fees can help individuals stick to their budgets, build good credit histories, and practice good financial habits without wasting their hard-earned money. Prepaid debit cards are easy to find, whether in stores or online, and require no credit check to start using. For individuals who are unable to get bank accounts, prepaid cards offer an ideal way to pay bills and build credit. While issuers state their various fees with prepaid cards, there are ways to get these waived or to avoid these fees altogether. Keep reading to discover how to use prepaid cards with no fees.
The Fifth Third’s Access 360° prepaid debit card is part of the Allpoint’s massive network, offering access to more than 45,000 ATMs. This prepaid debit card is available in the 10 states where Fifth Third’s have branches.
Generally, if a prepaid card charges a monthly fee, this cannot be avoided; however, monthly fees can be greatly reduced if users load more than $500 onto the card. Card activation fees can sometimes be avoided if users register the card online.
Bluebird by American Express and in partnership with Walmart is one of the best prepaid cards available. There are no monthly fees and no costs for inactivity, purchases, reloading through Walmart, or activation. While free when used at MoneyPass network ATMs, other ATMs may charge $2.50 minimum when withdrawing cash.
The Chase Liquid Card offers a variety of services without charging fees, including reloading the card with funds. Users can reload the Chase card through direct deposit, Chase ATMs, mobile check deposit, and bank transfer, all for free.
The Akimbo prepaid MasterCard is ideal for users who want to learn budgeting skills. This card has no monthly or activation fees, but charges $.99 for PIN-based purchases (up to $4.95 a month). This means that users need to think carefully before making a purchase, which can curb impulse shopping.
The FamZoo prepaid card helps parents teach their kids how to be financially responsible. This card offers monthly plans for up to $5.99 a month, and allows four or more cards per plan. Parents can send allowances and monitor the cards’ uses online. The card-to-card transfers are free.
Prepaid cards can charge a range of fees, including monthly maintenance fees, card activation, and ATM withdrawals and balance inquiries.
The Movo Virtual Prepaid Card has no monthly fees, no activation costs, and no charges for inactivity or purchases. Free withdraws are available through the Visa Plus Alliance networks ATMs. They do charge up to $.75 per bill payment, up to $2 for out-of-network ATM withdrawals, and there are reloading fees.