Prepaid debit cards, also known as “reloadable” debit cards, offer the convenience of adding money in advance and using it as needed. Whether you want to withdraw cash, pay bills, or make online purchases, prepaid debit cards provide the flexibility of controlling your spending and avoiding debt. Here are some of the best prepaid debit cards available in January 2024.
Best Prepaid Debit Cards Compared 2024
| Card Name | Cash Reloads Fees | ATM Fees | Free ATM Network |
|---|---|---|---|
| Bluebird by American Express | – | – | Over 37,000 MoneyPass® ATM locations |
| Serve American Express Prepaid Debit Account | $0 in network, $3.95 out of network | Over 45,000 retail locations | |
| ONE VIP Visa Prepaid Card | – | – | Supporting underserved communities |
| Greenlight Prepaid Mastercard | – | – | – |
| Movo Virtual Prepaid Visa Card | Varies, typically $3.95 or $4.95 | – | – |
| NetSpend Visa Prepaid Card | – | – | Pairing with a savings account |
Our Recommendations for the Best Reloadable Debit Card
Best for Cash App customers: Cash App Card
If you frequently use Cash App, the Cash Card is a convenient option to access the money in your Cash App account. Accepted at most online and retail stores, this Visa card offers FDIC-insured stored balances up to $250,000. You can even add offers via the Cash App to save money on purchases. However, note that it does not earn cash back rewards and has a $2.50 fee for ATM withdrawals.
Best for Walmart customers: Walmart MoneyCard
The Walmart MoneyCard offers cash back rewards for purchases made at Walmart.com (3%) and Walmart fuel stations (2%), and 1% at Walmart stores. It also provides an attractive 2% APY on savings (up to $1,000). However, the cash back is limited to $75 annually. Keep in mind that there are cash reload fees and the card does not have a free ATM network.
Best for avoiding fees: Bluebird by American Express
With Bluebird by American Express, you can expect the lowest overall fees. There are no card fees or monthly fees, and even cash reload fees are waived at Family Dollar stores and reduced to $3.74 at Walmart locations. The card also offers free cash withdrawals at over 37,000 MoneyPass ATM locations and allows for early direct deposit.
Best for earning rewards: Serve American Express Prepaid Debit Account
The Serve prepaid debit account from Amex stands out for its unlimited 1% cash back on in-store and online purchases. Unlike most prepaid debit cards, this card offers cash back rewards that can be redeemed on purchases made in-store or online.
Best for supporting underserved communities: ONE VIP Visa Prepaid Card
The ONE VIP Visa Prepaid Card not only offers cash back rewards, but also supports underserved communities. You can earn one point for every $2 spent and 1.5 points for every $1 spent on Netflix, Uber, Sephora, and select Black-owned businesses. However, keep in mind that this card has a monthly fee of $7.95.
Best for families: FamZoo Prepaid Card
The FamZoo Prepaid Card is designed for families, allowing parents to control accounts and money rules. It offers features such as allowing parents to see their own and their children’s account details and instant money transfers between family members. However, note that there is a monthly fee starting at $2.50 if paid for 24 months or $5.99 if paid monthly.
Best for kids/teens: Greenlight Prepaid Mastercard
The Greenlight Prepaid Mastercard is an excellent option for teaching kids responsible card use. It includes features like tying allowance to chores, setting spending limits, and earning up to 5% on savings and 1% cash back. Parents can even earn up to 3% cash back. Monthly plans start at $4.99.
Best for virtual debit cards: Movo Virtual Prepaid Visa Card
If you prefer virtual transactions, the Movo Virtual Prepaid Visa Card is perfect for you. It is entirely digital, eliminating the risk of losing a physical card. Accepted at millions of U.S. and worldwide merchants, you can also use it at Mastercard ATMs in your area.
Best for pairing with a savings account: NetSpend Visa Prepaid Card
The NetSpend Visa Prepaid Card offers benefits such as no credit check, no minimum balance requirements, and no activation fees. It also allows for direct deposit up to two days early and offers a “purchase cushion” to cover purchases up to $10. Additionally, it provides cash back rewards and up to 5% APY on a linked savings account.
Our Methodology
Our selection of the best prepaid credit cards focused on cards with the lowest fees for cash reloads and the largest networks of free ATMs. We also considered cards that meet the needs of families. Keep in mind that prepaid cards have unique features that differ from traditional debit cards.
How to Select the Best Prepaid Debit Card
When choosing a prepaid debit card, there are several features to consider:
Low fees
Look for a prepaid debit card with minimal fees, including monthly fees, cash reload fees, and ATM withdrawal fees.
Free ATM network
Choose a card that partners with a large ATM network to avoid fees when withdrawing cash.
Ease of reloading
Ensure the card offers convenient reload options, such as cash reloads, direct deposits, or bank transfers.
Benefits and perks
Consider prepaid cards that offer additional benefits, such as cash back, rewards programs, or discounts at specific retailers.
Low-Fee Alternatives to Prepaid Cards
While prepaid debit cards can be useful, there are low-fee alternatives worth considering:
- Online checking accounts offer no or low monthly fees and easy access to money.
- Credit unions may have lower fees and more personalized services.
- Mobile money management apps like Paypal provide money management services and debit card functionality.
- Mobile payment apps like Venmo and Cash App offer debit cards without monthly fees.
- Secured credit cards help build credit history without excessive usage fees.
Choose the option that aligns best with your needs and avoids unnecessary fees.
Where to Buy Prepaid Debit Cards
Prepaid debit cards are available online and in-person. You can purchase them:
- Online through the card issuer’s website.
- In retail stores like grocery stores, convenience stores, and major retailers like Target and Walmart.
- At bank and credit union branches.
- At check cashing or payday loan stores.
- At pharmacies such as Walgreens and CVS.
Prepaid vs Regular Debit Cards: What’s the Difference?
| Prepaid Debit Cards | Regular Debit Cards |
|---|---|
| Cash reloads, direct deposit, bank transfers | Cash reloads, cash withdrawals, balance inquiry |
| Maintenance fees, ATM fees, overdraft fees | Various fees determined by the bank |
| Limited spending based on card balance | Linked to a checking account |
Prepaid debit cards allow you to spend only up to the amount loaded onto the card, preventing overdrafts and overspending. Regular debit cards are linked to a checking account and have fees determined by the bank.
Time Stamp: Prepaid Debit Cards are Safe and Convenient, but Watch the Fees
Prepaid debit cards offer safety and convenience by allowing you to add money in advance. However, it’s important to be aware of the associated fees to make an informed decision.
Frequently Asked Questions (FAQs)
How do prepaid debit cards work?
Prepaid debit cards allow you to add money in advance and use it for purchases. They do not allow overdrafts, and you can typically reload them through various methods like cash reloads, bank transfers, or direct deposits.
Who is eligible for a prepaid debit card?
Prepaid debit cards are available to almost anyone in the United States, with basic eligibility requirements such as being 18 years old and providing identification.
Is there a fee to cancel a prepaid debit card?
Cancellation fees vary by card issuer. Some cards may charge a fee, while others may not charge if the card has a zero balance.
How do you add money to a reloadable debit card?
You can add money to a reloadable debit card through cash deposits, bank transfers, direct deposits, or check deposits via a mobile app. Fees may apply, so check with your card issuer for details.
How do you apply for a prepaid debit card?
The easiest way to apply is usually through the card issuer’s website. Some retail stores may also offer prepaid debit card applications. Fill out the application and wait for processing to receive your card within a week or two.
With these options and considerations in mind, you can choose the best prepaid debit card that suits your financial needs and preferences. Remember to compare fees, benefits, and convenience before making your decision.