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+ Summary: Best prepaid debit cards
What are prepaid debit cards?A prepaid debit card can serve as a budgeting tool or an all-out replacement for a bank account — and the best prepaid cards offer convenience while charging few fees. Prepaid cards are easy to get. Prepaid cards are sold at retail stores (usually for a fee) and some can be ordered online. There’s no credit check, and they’re often available even if you can’t get a bank account because of a bad banking history. Unlike with a credit card, you load funds onto prepaid cards before use. Some companies also offer mobile-optimized banking accounts that don’t require a squeaky-clean banking or credit history — and they often cost less than prepaid cards. Skip ahead to read about these low-fee alternatives. Prepaid debit cards vs. regular debit cardsYou don’t need a bank account to get a prepaid debit card, but it’s a requirement for a regular debit card, which is linked to your checking account. For prepaid debit cards, you load the card with money when you get it, then use it to make purchases. For regular debit cards, the funds for your payments are taken directly from your checking account as you make payments. 🤓Nerdy Tip If you need to build credit or have been denied a bank account, a prepaid debit card might not be the best option: Secured credit cards help build credit, and if you can't get a regular checking account, try second chance checking. These accounts provide another shot at mainstream banking and its perks. Why trust NerdWallet: Our writers and editors follow strict editorial guidelines to make sure our coverage is fair and accurate, so you can choose the financial accounts that work best for you. See our criteria for evaluating banks and credit unions. Here are our top prepaid debit cards based on fees and features. Scroll down for more detail on each account.
Bluebird by American ExpressBest for avoiding feesBluebird, issued by American Express, offers more than the average prepaid debit card, and you can load and spend money without paying fees. But Bluebird does have limits when it comes to merchant acceptance, and it doesn’t allow cash back at retailers.
Fifth Third Access 360° Reloadable Prepaid CardBest for ATM withdrawalsFifth Third’s Access 360° prepaid debit card takes part in Allpoint’s massive U.S. network and has access to over 50,000 ATMs. This card is available in the 11 states where there are Fifth Third branches, which is the only place you can get the card.
FamZoo Prepaid CardBest for parents (tie)FamZoo is a family-friendly prepaid Mastercard that lets parents become virtual bankers for their kids, even those younger than 13. Four cards are free on the monthly plan, but more can be added for a one-time $3 fee per card. From the website or app, you can send allowances, split payments, see balances and activity across all cards and set up text and email alerts.
» Looking for a traditional spending account? Check out NerdWallet’s best free checking accounts. Greenlight Prepaid MastercardBest for parents (tie)Greenlight stands out for a feature that other prepaid cards lack: store-specific spending controls. Parents can preapprove where their kids spend money, so $300 earmarked for school supplies can only be spent at a campus bookstore, for example. The prepaid card also offers real-time activity alerts, free card-to-card transfers for allowances and the ability to remotely lock lost cards. A Greenlight account can have up to five subaccounts, so it works for a family. Given low purchase and withdrawal limits, it’s best as a family budgeting tool instead of a bank account replacement.
Walmart MoneyCardBest for shopping at WalmartThe Walmart MoneyCard offers its shoppers up to $75 per year in cash-back rewards: 3% for purchases made at Walmart.com and in the Walmart app, 2% at Walmart fuel stations and 1% at Walmart stores. The app, which gets decent ratings, is required to get fee-free cash reloads at Walmart stores. Walmart MoneyCenters and Customer Service desks also offer fee-free cash withdrawals. This prepaid, reloadable card is family-friendly. You can order an account for free for up to four additional people who are at least 13 years old. The Walmart MoneyCard offers a free “Vault” savings feature. Savings will earn 2% APY on up to $1,000 on the card enrollment anniversary. Because it’s not part of an ATM network, you’ll pay $2.50 for ATM withdrawals in addition to any operator fees.
Low-fee alternatives to prepaid cardsThe difference between prepaid debit cards and checking accounts is starting to blur, as many have similar features and services. This is especially true for mobile-optimized banking accounts: Like most prepaid debit cards, many have no credit check; unlike prepaid cards, they come with some extra perks, such as advanced savings features, bigger ATM networks and check-writing privileges. ChimeBest cheap alternative to prepaidat Chime, Deposits are FDIC Insured Chime isn’t a prepaid debit card or a traditional bank account but a free checking account in the Visa payment network. Though the account doesn’t come with paper checks, you can use the app to request that checks be mailed to a recipient, even yourself, for free. You can also open a linked Chime savings account and set up automatic transfers.
Chime says: "Chime is a financial technology company, not a bank. Banking services provided by, and debit card issued by, The Bancorp Bank or Stride Bank, N.A.; Members FDIC." See more information from Chime Chime says: "Round 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. Save When I Get Paid automatically transfers 10% of your direct deposits of $500 or more from your Checking Account into your savings account." The Annual Percentage Yield (“APY”) for the Chime Savings Account is variable and may change at any time. The disclosed APY is accurate as of October 25th, 2022. No minimum balance required. Must have $0.01 in savings to earn interest. Best prepaid debit cards and alternatives: Summary
Frequently asked questions What is a prepaid debit card? A prepaid debit card can serve as a budgeting tool or be a replacement for a bank account. The best prepaid cards offer convenience and don’t charge many fees. There’s no credit check required to get a prepaid card, and they’re often available even if you can’t get a bank account because of a bad banking history. You load funds onto prepaid cards before using them for purchases. Generally, you can also use a prepaid debit card to withdraw cash from ATMs. Where can you get a prepaid card? Prepaid cards are sold at retail stores (usually for a fee) and some can be ordered online. How do you add money to a prepaid card? The methods for adding money to a prepaid card vary from card to card. But generally, the options include adding cash at a retail register (often for a fee), adding funds by using an app to make a mobile check deposit, and by direct deposit, card-to-card transfer and bank transfer. METHODOLOGY: Best Prepaid Debit Cards of 2022We looked at 45 reloadable prepaid debit cards offered by some of the biggest banks, credit unions and prepaid debit card issuers. Where multiple card plans existed, only the basic monthly fee plan was considered. We analyzed four categories for each card: general fees and features, purchases and withdrawals, reload fees and options, and other services such as bill pay and savings accounts. The cards that made this list had the best combination of these categories. Some cards in this roundup have nonbank program managers that partner with banks. Regardless, all the cards’ issuers are banks that insure consumers’ money through the Federal Deposit Insurance Corp. No cards above have overdraft fees. ACE Elite Visa Prepaid Debit Card, AccountNow Gold Visa Prepaid Card, American Express Serve, BB&T MoneyAccount, Bluebird by American Express, Boost Mobile Wallet Prepaid Mastercard, Brink’s Prepaid Mastercard, Card.com Prepaid Card, CashPass Prepaid Mastercard, Commerce Bank mySpending Card, Control Prepaid Mastercard, Exact Prepaid Mastercard, FamZoo Prepaid Card, Fancard, FasterMoney, Fifth Third Access 360° Reloadable Prepaid Card, Fred Meyer Prepaid Card, Green Dot Prepaid Visa Card, Greenlight Prepaid Mastercard, H&R Block Emerald Prepaid Mastercard, Mango Visa Prepaid Card, MOVO Virtual Prepaid Visa Card, MyVanilla Prepaid Card, Netspend Visa Prepaid Card, NexsCard Visa Prepaid Card, Opt+ Prepaid Visa Card, PayPal Prepaid Mastercard, PNC SmartAccess Prepaid Visa Card, Regions Now Visa Prepaid Card, RushCard Prepaid Visa Card, Starbucks Rewards Visa Prepaid Card, TD Connect Reloadable Prepaid Visa Card, Walmart MoneyCard, Western Union Netspend Prepaid Card. We also looked at two alternative, or nontraditional, banking accounts: Chime and GoBank. What the ratings mean: — Among the very best — 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 — Poor; proceed with great caution (or below) — Best to avoid How do I check the balance on my Bank of America prepaid card?How can I check my balance? You can go online at www.bankofamerica.com/commercialprepaidcard to find the balance on the Card. Alternatively, you can always check your balance by calling Cardholders Services at 1.866. 213.8564.
How do I register my Bank of America prepaid card?Activate your card today. Activate your Visa debit prepaid card online at www.bankofamerica.com/commercialprepaidcard or call 1.866. 213.8564 (TTY line at 1.866. 656.5913).
How do I contact Bank of America prepaid card?Call 800.432. 1000 (Mon. -Fri. 7 a.m.-10 p.m. or Sat.
What is Bank of America EDD debit card?The EDD issues benefit payments for Disability Insurance, Paid Family Leave, and Unemployment Insurance claims using a visa debit card. This prepaid debit card is a fast, convenient, and secure way to get your benefit payments and is not subject to a credit check or monitoring by the EDD.
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