best prepaid reloadable debit card

• The transcript of the YouTube video discusses the pros and cons of various reloadable prepaid debit cards.
• The speaker notes that companies in this space try to obscure the fee schedule and are vague about certain aspects of their products.
• Information is listed for several reloadable prepaid debit cards:
  • H&R Block Emerald: load via Greendot MoneyPak (GDMP), no activation fee, no monthly fee, no fee for pin transactions, unclear what “no fee to send check” means
  • Vision Card: reloadable by Reloadit and GDMP, free unload to bank account, pin transactions, fees depend on card type
    • Preferred Card: $9.95 activation fee, no monthly fee, $1.00 pin transaction
    • Premier: $9.95 activation fee, $9.95/month, no fee for pin
    • Max initial GDMP load=$1k, monthly GDMP $9500
    • Max initial Reloadit load $999, no observable monthly limit
  • Netspend: reloadable via netspend reload cards, Reloadit cards, and possibly VR, pin transactions, $7500/day limit on load in any form, possible bill payment (details unclear)
    • Pay as you go: no monthly fee, Signature purchase $1.00, Pin purchase $2.00
    • Fee advantage: $9.95/month, no fee for purchases
  • Mango: loaded via GDMP, max account value of $10k at any time, pin transactions, $5.00 monthly fee (waived if $500 was loaded in last 30 days)
• A user comments that they like American Express Prepaid Cards because they take both Vanilla Reloads and GreenDot MoneyPaks and they use them to manufacture spend and convert currency.
• Another user comments on liquidating $2400 a month using American Express prepaid cards that cost them $10.
• One user uses prepaid cards to convert currency while traveling so they can earn miles or points without forex fees.
• There is discussion about MyVanillaDebit, which previously was a good way to use up Vanilla Reloads, but is now shutting down people for cash advances and large transactions.
• A user asks for recommendations for a prepaid card that takes VR and has easy liquidation options (bill pay or debit functionality).

• Prepaid debit cards typically carry fees.
• If you’re unable to control your spending with budgeting, prepaid debit cards may be a good solution.
• Budgeting and self-control with a regular debit or credit card is recommended by some.
• Prepaid cards are not linked to a traditional bank account.
• American Express (Amex) network cards carry fewer user-side fees.
• Amex Bluebird charges for practically nothing except paper checks and ATM withdrawals at non-MoneyPass ATMs if you don’t have direct deposit.
• Some banks are offering decent prepaid options at this time.
• Be careful when paying for a purchase larger than the balance remaining on the prepaid card because most store computers don’t handle them correctly.
• Never let a store throw away any card. Check the receipt.
• Prepaid cards with overdraft protection could charge extra fees.
• Using a credit card (except at places that don’t take them or charge extra for their use) is better because it provides much better federal legal protection against fraud and theft.
• It’s fairly easy to get a credit card that rebates 1% of the purchases, making them cheaper than cash.
• Some cards offer sign-up bonuses of anywhere from $10 - $200.
• Walmart Mastercard is a card that provides a $25 statement credit if you make a single purchase of at least $75 on the same day, in-store or online.
• Blue Bird by American Express is a good option with minimal fees.
• Other good options with minimal to no fees include Amex Serve, Walmart Bluebird, or Target Prepaid Card.

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• A Reddit user is looking for recommendations on a prepaid reloadable debit card for their 12-year-old child. They want to use the card for online purchases on sites like Steam, iTunes, and Amazon.
• The user is trying to teach their child about financial responsibility and wants a card with minimal fees or only an issue fee.
• A user recommends the Akimbo prepaid card which has no monthly fees or POS fees. The card is easy to reload and has multiple features like the ability to create subcards for allowances. Additionally, the card may charge dormancy and ATM fees.
• The cardholder can sign up for Akimbo with personal information and use it to send family and friends money, manage allowances, and set up recurring payments.
• Another user recommends AMEX Bluebird as a possible option with no monthly fees but may charge ATM fees. However, the card is not accepted everywhere, and the user recommends Akimbo over Bluebird.
• The cardholder requires a social security number and other personal information to sign up for these cards and cannot be purchased like a gift card.
• The user mentions local options, like Laketrust Visa reloadable card, may have slightly higher fees than the Akimbo card.
• It is important to note the specific fees for each card like dormancy, ATM, and international fees.
• A user compliments Akimbo’s web layout and informative website.
• The user expresses curiosity over what Akimbo means in reference to the prepaid card’s name.
• A user was initially confused by the Akimbo website’s sign-up requirements but realized they must create an account to see shipping fees.
• A user recommends Laketrust Visa reloadable card, which offers sub-cards, although they have fewer features than Akimbo.

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• OP’s Canada Post Visa card operated by ZenWallet has expired and its service is being discontinued so they’re looking for a new reloadable prepaid card
• ZenWallet fees: initial activation fee of $40-$50, reloadable fee of $3, monthly fee of $3(?)
• A user suggests getting a regular free checking account with a debit card to avoid fees
• Another user suggests looking into debit cards that work as Interac in store but Visa or MasterCard online
• A user suggests using privacy.com to make real cards for online shopping and getting a PayPal debit card for real-life transactions, and not to use prepaid cards unless there’s no other choice
• Some users suggest a secured credit card or using prepaid gift cards with lower fees
• One user notes that they don’t mind paying fees for a card that isn’t linked to their main debit account for extra security
• Another user mentions the lack of fraud protection with prepaid cards compared to credit cards
• A few users suggest using a secondary checking account with no fees for security, or using it as a “buffer account”
• A link is provided to a resource on the best chequing accounts in Canada

Summary:

The transcript includes a discussion on Reddit about prepaid reloadable cards. OP mentions that their Canada Post Visa card operated by ZenWallet has expired and is being discontinued so they’re looking for a new option. Other users suggest avoiding fees by getting a regular free checking account or using debit cards that work as Interac in store but Visa or MasterCard online. A few users suggest prepaid gift cards or secured credit cards as alternatives to reloadable prepaid cards. Security is a common concern among users, with some suggesting using a separate checking account for added security. The lack of fraud protection with prepaid cards compared to credit cards is also mentioned. A link is provided to a resource on the best chequing accounts in Canada.

• The transcript is of a YouTube video that is over 3 years old and seems to be related to a Reddit post.
• The Reddit post requested suggestions for the best reloadable/prepaid card with low fees in California for online use primarily.
• No specific card names or brands are mentioned in the post.
• A Reddit user responds to the post asking why the original poster doesn’t want to open a real bank account instead.
• Some cards to consider for using in California are mentioned briefly, such as Green Dot and American Express Serve.
• One user suggests Capital One’s 360 account, which comes with a free checking account and debit card with no monthly fees, in response to the other Reddit user’s comment about getting a real bank account.
• Another user mentions that a lot of companies charge additional fees if you make a lot of purchases or use the card frequently, so it’s important to read the fine print and choose accordingly.
• The American Express Serve card is mentioned again as a good option for those looking for no monthly fee cards with online bill pay, ATM withdrawal privileges, and access to purchases online and in-store.
• Another user mentions PayPal Prepaid and NetSpend cards, both of which are reloadable prepaid debit cards with mobile check deposit and online account management.
• A user named James868 mentions that he has used the Green Dot card for over three years and likes that there are no monthly fees if you make at least $1000 of purchases the previous month or load $1000 onto the card through direct deposit.
• Several users mention that some cards have activation fees, transaction fees, and ATM fees that need to be taken into consideration before choosing a card, and to read the fine print before signing up for any of them.
• Lastly, a user named Tony331257 mentions that prepaid cards have some added privacy benefits since they don’t require any personal information to register and use, compared to a traditional bank account which requires personal identification information to open an account.

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• WalletHub analyzed and compared over 80 prepaid debit cards to determine the best.
• Reloadable and non-reloadable prepaid cards are available.
• Reloadable prepaid cards allow adding more money, while non-reloadable prepaid cards are like gift cards.
• Prepaid cards can be a safer alternative to carrying cash.
• Main difference between a regular debit card and a prepaid debit card lies in how they are funded.
• Regular debit cards are linked directly to your checking account, so when you use the card, the money comes out of your account balance.
• Prepaid debit cards get money loaded onto the card beforehand, and you can only spend what you have loaded on it.
• Pros of prepaid cards are accessibility, budgeting and spending control, and security.
• Prepaid debit cards can be a good fit for some situations.
• Prepaid cards prevent overspending and overdraft fees since you can only spend what you’ve loaded onto the card.
• Budgeting tools and expense tracking are available for some prepaid debit cards.
• There can be fees associated with prepaid cards, so it’s important to read the fine print before you buy one.
• Fees include monthly fees, reload fees, ATM withdrawal fees, and sometimes balance inquiry fees.
• WalletHub’s best prepaid reloadable debit cards of September 2024 are:
  • ONE VIP Visa Prepaid Card
    • Monthly Fee: $7.95 (no fee in some states)
    • 1.5% cashback
    • No overdraft fees
    • No minimum balance requirements
    • Good for avoiding prepaid cards with a lot of fees
  • American Express Serve Cash Back
    • Monthly fee: $7.95
    • Offers 1% cash back on all purchases
    • Offers all the features of the standard Serve card
    • Good option if planning to use prepaid debit card often
  • Bluebird American Express Prepaid Card
    • No monthly fees
    • $0 foreign transaction fees
    • Good for international travel
  • American Express Serve FREE Reloads
    • Monthly fee: $6.95 (no fee in some states)
    • Wide range of convenient features
    • Offers a vast network of fee-free ATMs for withdrawals
    • Good for people who handle a lot of cash and want to easily reload card without paying any fees
  • Bento for Business Visa Debit Card

• A family member needs a prepaid, reloadable card for spending and budget habits.
• Monthly deposit will range from $850 - $1050.
• Criteria for choosing includes low monthly fee, ability to load emergency funds instantly via mobile app, ability for the person to write checks, free transaction and balance viewing app, extensive ATM network to withdraw money without additional fees, and cashback without fees.
• Comments suggest using Blue Bird, Chase Liquid, and Chime.
• Blue Bird was recommended as the best option; it allows check writing with a normal checkbook and includes 3 months of protection on purchases.
• Blue Bird is not accepted everywhere; it is limited to where Amex is accepted.
• Amex serve is very similar to Blue Bird but not Walmart-related; it offers 3 different versions of the card.
• Chase Liquid allows cash back at stores, qualifies for debit on apps that don’t accept prepaid cards, and lets users take out large amounts of cash at the branch.
• Chime has an app, savings account, and great bill pay, but it doesn’t offer a place to deposit cash for free or take out large sums.
• No prepaid card allows random check writing; payments can be scheduled to send checks via mail.
• User suggests contacting a credit union for product options, but it may not fit all the criteria needed.
• Some users warn about fraud and fraudulent charges resulting in being banned from certain prepaid cards.
• Other prepaid cards mentioned include Green Dot and Walmart Money Card.
• Moneypass is the ATM network associated with Blue Bird, but some users prefer Allpoint or another network.
• One user mentions the difficulty in finding a prepaid card with check-writing capability as it increases the risk for the issuer.

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