![]() If a company does require a credit check, it's a soft inquiry, which doesn't affect your score. Unlike a credit card, a prepaid debit card doesn't usually require a credit check to qualify. For this reason, a prepaid card can be useful for people who don't have bank accounts but still receive cash or checks. A regular debit card is attached to a checking account, but you don't need a checking account to have a prepaid card. ![]() How is a prepaid debit card different from a regular debit or credit card?Ī prepaid debit card is similar to a regular debit card, but there are some key differences. You don't need a bank account to use a prepaid debit card, but you do need a bank account for a regular debit card. #Activate debit card five star free#Fees vary by company, and some have free options. It sometimes costs a fee to reload your card. Certain companies even allow you to link your prepaid debit card to a checking account so you can transfer funds. Some allow you to set up direct deposits so funds from your paycheck can go directly onto the card. Most companies let you put cash on the card at places like Walmart, or you can deposit a check at an ATM and have the funds go onto the card. There are several ways to reload the card with more money. For example, if you put $1,000 on the card, you can spend up to $1,000 before your transaction is denied due to lack of funds. With a prepaid debit card, you load money onto a card and use it to spend money. Frequently asked questions What's a prepaid debit card? We looked at monthly service fees and charges for signing up for a card, reloading money, and using an ATM. Almost every prepaid card comes with some fees, but we chose ones that are pretty manageable. If a prepaid debit card had a special perk like cash back or a budgeting feature, we took that into consideration, too.įinally, we picked cards that are relatively affordable. You should be able to use a card at ATMs and have several convenient options for reloading money onto the card. We chose prepaid cards that are relatively easy to use. (For example, we didn't pick the Starbucks Rewards Prepaid Card because you have to frequently shop at Starbucks to get the most out of the card.) We chose cards that were useful for a large number of people. We looked at a dozen prepaid debit cards before selecting our favorites. But to figure out whether you'll have a smooth relationship with a company, you may want to ask family or friends about their experiences or read online reviews. None of these companies have any recent scandals, so you may decide you feel comfortable using them. But not all of our favorite prepaid debit card companies have been graded by the BBB, so we aren't factoring scores into our trustworthiness review. Normally, we compare companies' Better Business Bureau trustworthiness grades. ![]()
1 Comment
2/15/2023 11:19:08 pm
Thanks for sharing this wonderful information! You can now use ANNA Money with Google Pay™. It’s the fast, simple, and secure way to pay at millions of places – on sites, in apps, and in stores. With Google Pay there’s no need to dig for your cards – you can pay quickly and easily with the device that’s already in your hand.
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