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7 Best Prepaid Debit Cards You Should Know

7 Best Prepaid Debit Cards You Should Know

Prepaid debit cards are a great way for individuals to learn how to be financially responsible. In our world today, cash is starting to become obsolete in comparison to the use of plastic to make purchases. When you go online to purchase items, a place that can offer amazing deals, cash isn’t accepted but credit or debit cards are. This means that missing out on a debit card results in possibly missing out on some amazing cyber deals. But not all prepaid debit cards are made equal. Some come with outrageous fees, difficulties with ATM access, and multiple regulations. Today, we will give a nice overview of six of the best prepaid debit cards on the market today.

1. American Express Serve

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    American Express used to be considered a company for those with higher incomes. With the release of credit cards along with charge cards, this reputation changed and the company became open to more individuals. Now, with American Express Serve, as well as Bluebird, American Express is open to just about anyone. For only $1 a month if you don’t use Direct Deposit or load less than $500 a statement, you can enjoy a prepaid debit card with some of the same benefits I enjoy as an American Express credit card holder. ATM is free at a variety of select locations. Serve is loadable at thousands of locations across the US.

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    2. GreenDot Card

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      Greendot is considered by many to be a top prepaid debit card to choose. The card is free to purchase online. You do have a higher monthly fee of $4.95 compared to American Express. However, if you load more than $1000 a statement, it is a waived fee. In addition, unlike having to either load $500 or use Direct Deposit with American Express to be eligible for a fee waiver, you can have fees waived with Greendot by making 30 or more purchases of any value in a statement. ATM access is free at select locations.

      3. Simple

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        Simple has a unique concept compared to the other cards listed in this article. This Visa card is focused more on saving rather than spending for the individual. You are able to make goals, partitioning money to a specific part of your card reminiscent of a savings account but without being able to make interest. This is all on a contemporary, mobile phone-focused experience. Simple is very simple to sign up for and the savings benefits is a big draw for individuals. It is free to get and there are no fees as long as you keep the card active at least once within a six month period. There are other fees, including when you perform ATM withdrawals internationally, however they are small. You can access your money for free at over 55,000 ATMs across the country.

        4. H&R Emerald Prepaid MasterCard

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          The H&R Emerald Card with MasterCard is a great option from the company that we all know of with filing taxes. The Emerald Card doesn’t come with any monthly fees. There is a one-time loading fee of $4.95 to get started. ATM fees are $2.50, regardless of where you go. That’s a big reason why it isn’t in the top half of our list. However, the quality of the card and company behind it, along with the lack of monthly fees makes it a very competitive card. Just like all of the cards mentioned on the list, the FDIC insurance protects you as a user, ensuring that your money is safe and secure.

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          5. BB&T Money Account

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            The BB&T Money Account card makes the lower half of our list due to the fees associated with the card. While there are a fewer number of fees compared to the other cards on the list, one thing that is certain with this card is that you will pay something every month. As long as you use a BB&T ATM domestically, you are safe from those fees. However, you can’t escape the $6 a month fees that come with holding the card. Even if you load $1000 or more a month, this fee only reduces to $3 a month. If you are a student, look into their special card for the younger crowd, you’ll always pay $3 a month, no matter what. Despite this, it is a card we can recommend because the BB&T name behind this card is very strong. You’ll have almost no trouble finding a BB&T ATM to use, and the features with this card are numerous.

            6. Chase Liquid

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              Chase is a well known credit card company, but little did you know, their prepaid debit cards are just as good. If you are in the market for a debit card, you may find them even better. Their monthly fee of $4.95 makes it the most expensive on the list. Yes, while the Greendot card allows you to get out of the monthly fee if you deposit $1000, there’s no such grace period with the Chase Liquid card.

              Despite this, chances are you won’t be paying anything else. You can use the Chase app to keep track of your transactions, and this card comes with most of the same features mentioned about the other cards in this article. With the name Chase having your back, this is a great card and one of the best to finish off this list.

              Now that you know which of the best prepaid debit cards are out there, why not go out and get one for yourself today.

              Featured photo credit: Financial Queries via financialqueries.com

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              Published on July 4, 2018

              Top 10 Recommendations on Money Management Apps

              Top 10 Recommendations on Money Management Apps

              Don’t want to overspend your budget, swipe your credit card too many times, and feel like a financial mess? Instead of beating yourself up for the bad financial decisions you’ve ever made, create a new plan!

              The solution is simple, save more and spend less. But, we all know it’s easier said than done.

              One problem is finding quality apps that save you time and money, and aren’t just hype.

              Luckily, there’re many great money management apps available at your fingertips. Here are 10 reliable money management apps that can help you save money, and crush debt.

              1. Personal Capital

                When was the last time you’ve tracked your net worth? Probably months ago or maybe never. Personal Capital allows you to easily track your net worth and plan for retirement.

                Here are some of its main features:

                • Sync many investment accounts, and expenses (mortgage, credit cards, etc.) in one place
                • Discover hidden fees and how much they’re affecting your retirement plan
                • Wealth management for investors requiring a long-term strategy

                With Personal you’re free to track your expenses and net worth.

                Available for: iOS and Android

                2. Mint

                  If your smartphone could only install a few apps, Mint would be one of them. Why? Because Mint tracks all your balances and bills in one place.

                  Here are some of its main features:

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                  • Effortlessly track all your bills and balances in one dashboard
                  • Categorized expenses to understand where you spend your money
                  • Uncover hidden fees, and determine your investment style with sophisticated retirement tools.

                  Feel at ease with managing your money by a reputable company that isn’t going anywhere.

                  Available for: iOS and Android

                  3. YNAB

                    Everyone needs a budget, there’s no way around it. YNAB (You Need A Budget) is an easy to use app that will change the way you think about money. Their motto is to “give every dollar a job”, and you’ll quickly discover why.

                    Here are some of its main features:

                    • Easily sync all bank accounts in one place
                    • Visually see your debt paying progress with eye-catching charts and notifications
                    • Customized categories setting saving goals

                    The best part about YNAB is the community that comes along with it. You can hop on the YNAB forum to receive support, listen to the YNAB Podcast or stay tuned for their weekly videos.

                    Available for: iOS and Android

                    4. Wealthfront

                      Albert Einstein once said “compound interest is the eight wonder in the world”, and for a very good reason. The problem is, most people are scared or unwilling to learn the basics of investing. This is why Wealthfront is the perfect solution for the hands-off investors.

                      Here are some of its main features:

                      • Variety of investment account options including IRA, Roth IRA, and more
                      • Your portfolio composed of 7 different asset classes
                      • Automatically rebalanced portfolio
                      • Daily tax loss harvesting

                      Wealthfront is perfect for people requiring investment guidance, or prefer a hands-off solution.

                      Available for: iOS and Android

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                      5. Clarity Money

                        If you’re staying on top of your budget but want to take your finances to the next level, Clarity Money can help you. Clarity Money helps you stay under budget and build a personalized savings plan.

                        Here are some of its main features:

                        • Easily cancel subscriptions with one click
                        • Synchronize bank accounts fast
                        • Transfer money effortlessly between different accounts

                        Clarity Money isn’t an app that does it all. But, it does make transferring money and canceling subscriptions fast and efficient.

                        Available for: iOS and Android

                        6. Acorns

                          What if there was a way to quickly gain confidence in investing your money, without too much risk? There is, and Acorns is your solution. With Acorns’s technology, you’re able to make investments as small as $5.

                          Here are some of its main features:

                          • Automatic contribution option
                          • Customized portfolio tailored to your needs
                          • Low management fees ranging from $1-$2 per month

                          Stop wasting dollars on expensive coffee. Instead, invest them towards a brighter financial future.

                          Available for: iOS and Android

                          7. Albert

                            Do you budget by only subtracting your expenses from your income? If so, how would you discover any overpayments or extra money you could save? This is where Albert shines, and it does it all free.

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                            Here are some of its main features:

                            • Receive notifications for overpayments, hidden fees, and low balances
                            • An Automatic budget that’s built around your spending and income
                            • Easily track debt and set new financial goals

                            While Albert does offer a paid option, most of its core features are FREE. So, what better option to save?

                            Available for: iOS

                            8. Prism

                              Have you recently forgot to pay a bill because life got in the way? Prism automatically tracks your bills and syncs your bank accounts in one place.

                              Here are some of its main features:

                              • View all your account balances in one glance
                              • Bill due dates are automatically pulled and tracked
                              • Receive early reminders for upcoming bills

                              If your budget is on “fleek” but can’t seem to stay on top of your bills, Prism is your go-to app.

                              Available for: iOS, Android, Windows, Amazon

                              9. Mvelopes

                                Remember hearing about people using envelopes to budget their money? Well, Mvelopes is the new envelope system for this generation. Easily create monthly budgets and track your saving goals.

                                Here are some of its main features:

                                • Connect unlimited bank accounts
                                • Real-time budgeting with auto transaction syncing
                                • Low monthly $4 fee or $40 annual

                                Mvelopes can help you crush debt, save more, and help you stop overspending. With its low monthly fee, it’s worth a try.

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                                Available for: iOS and Android

                                10. Wallaby

                                  Most people don’t have time to track their credit card’s changing rewards and interest rates. Because of this, you need help reaping the most of your credit card’s rewards. Wallaby is the app that will help you do just that.

                                  Here are some of its main features:

                                  • Automatic recommendations for the best credit card to use for each transaction
                                  • A friendly user interface, displaying credit cards with their corresponding images
                                  • Free to use

                                  If you’re using the same credit card to make your purchases, you may be leaving money on the table. Give Wallaby a try if you’re ready to maximize your credit card’s rewards.

                                  Available for: iOS and Android

                                  Take control of your finances and experience financial freedom

                                  Picture yourself staying on budget and saving more money than you’d ever imagined.

                                  It took hard work and dedication but you’d finally learned how to manage your money. You have to start taking control of your spending and saving habits.

                                  You now have a list of reliable apps that can help you build better money habits, what are you waiting for?

                                  Featured photo credit: Pexels via pexels.com

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