Do you want to know the Types of Visa Prepaid Cards available? Well, there are many Prepaid cards that are available. But the reason for this article is for you to know the best that you can simply make use of.
There are some prepaid cards I will be telling you about, and you are going to benefit from these cards when you use them.
Types of Visa Prepaid Cards
Prepaid cards are simply a type of debit card that then functions much like gift cards. You buy one, load a desired amount of funds onto the card and simply make use of the card to make purchases.
Prepaid cards can be very helpful if you cannot then qualify for a traditional debit or credit card, then you should try to maintain a strict budget (given you set your balance up front) or want to teach kids how to manage their money. However, it is very important to note prepaid cards are not credit cards.
Reloadable Prepaid Cards with No Fees
Now there are Prepaid cards that are simply free, even if they don’t charge monthly or annually there must surely be a fee or charges involved. So I will be showing you some of the best-prepaid cards one can use for his own purposes. Just read on.
Reloadable Prepaid Cards
Here is some of the best Prepaid card you should simply make use of, here are those Prepaid cards below:
Bluebird American Express Prepaid Debit Account
A lot of prepaid cards have to charge various fees. But if you are fee averse, you are not totally out of options — the Bluebird American Express Prepaid Debit Account can be a solid choice for you.
It comes with the following:
- No monthly fee.
- No fee to get the card online ($5 card price in-store).
- No ATM withdrawal fee at MoneyPass ATMs ($2.50 fee at other ATMs, plus the ATM operator’s fee, if any).
- No fee for cash and debit card reloads at Walmart (but up to $3.95 at other retailers).
You can also have the option to load money onto your card for free via direct deposit or a mobile check deposit.
The only drawback to free mobile deposits is the 10-day waiting period. If you then want your money sooner, you must have to pay 1% or 5% of the check amount, simply depending on the type of check, with an amount of $5 minimum fee.
Mango Prepaid Mastercard
While some prepaid cards will allow you to set aside money in a separate savings account, you will be hard-pressed to find a card that will simply reward you more for doing so than the Mango Prepaid Mastercard.
Its savings account offers an annual percentage yield, or APY, of up to 6% on balances as high as $2,500. You will even get a 0.10% APY on balances higher than that.
To qualify for the 6% APY, you just need to make at least an amount of $1,500 in “signature purchases” each month and also have a balance of at least $25 in your savings account at the end of the month. “Signature” purchases are just transactions in which you do not use your PIN to authorize the sale.
But there are some fees to be aware of.
- There is an amount of $5 monthly fee, which the card issuer waives if you receive at least $800 in direct deposits each month.
- There is also no activation fee.
- There’s an amount of $3 fee for domestic ATM withdrawals (plus any fee the ATM operator might charge).
- You may pay a fee to load cash onto the card, but it depends on how and where you load money onto the card.
American Express Serve Cash Back
Rewards are also one of the biggest features you will then miss out on if you avoid credit cards. But with American Express Serve Cash Back, you can even earn 1% cash back, which is then applied to your account and can also be used for future purchases, on every purchase you make.
While that does not even compete with the top cash-back credit cards, it is better than nothing.
Here are some fees the American Express Serve Cash Back comes with.
- A monthly fee of $7.95, unless you live in New York, Texas or Vermont.
- No fee to get the card online (up to $3.95 card price in-store).
- No fee for withdrawals from MoneyPass ATMs (up to a $2.50 fee per transaction for out-of-network ATMs, as well as any fee the ATM operator may charge).
- Cash reloading at retail locations can cost you up to $3.95, depending on the retailer.
To learn more about the American Express Serve® Cash Back, read our editorial review of all three Serve cards.
If you are a frequent Walmart shopper, then you may appreciate that you can use the Walmart MoneyCard to get 3% cash back for shopping at Walmart.com, 2% at Walmart gas stations, and also 1% at Walmart stores for a total of up to $75 in cash back each year.
But the card comes with some fees, including the following:
- There’s a $1 card purchase fee.
- You will have to pay a $5.94 monthly usage fee, which can be waived if you set up a qualifying direct deposit.
- There’s no fee to add cash using the in-store app at Walmart — but adding cash at the register will cost you $3, and other locations will run you up to $5.95.
- Expect to pay fees for ATM withdrawals, teller cash withdrawals, overdrafts, foreign transactions, and more.
You can even also bank with the Walmart MoneyCard. Some of its banking features include overdraft protection, early paycheck access through direct deposit, and also bill pay. You can also get 2% APY on any money you have in savings.
The FamZoo card gives parents a prepaid option to then enable or allow their kids the chance to earn and spend money. It also has built-in tools that will even help teach financial responsibility.
Parents can load up the main funding card, which they can simply use to transfer money between each family member with a card. As a parent, you can even use the card to then be able to distribute money for things like errands, chores, or allowance it is up to you. You can even also request reimbursements or contributions to a shared family fund.
Here are some other key features and fees you need to know.
- There is a $5.99 monthly family subscription fee, but you will save if you prepay for 6-, 12- or 24-month packages.
- FamZoo does not charge certain common fees, like ATM withdrawals, but other fees may apply.
- There are multiple ways to reload, but fees and transfer speeds can vary.
- You can only load $2,500 per day, and the max total you can keep on the family cards is $5,000. Plus, other limits on loads, transfers, and withdrawal limits apply.
There are even handy financial tools that can assist kids to learn to monitor spending, make budgets and also save using automatic deductions. Parents can even opt to reward responsible financial behaviours with parent-paid interest and also parent-paid chore commissions.
How to Pick Prepaid Credit Cards
The best-prepaid cards are not only just great budgeting tools, but they are also providing a lot of other features and also are relatively affordable. Have then considered several factors as compiled a list, including fees, extra benefits, even free reload options, and also ways to get money back.
I also wanted to highlight cards that will simply go above and beyond the norm. The cards that are chosen in this article have special features, like a high-rate savings account, compatibility with popular digital wallets, or maybe simply a huge free ATM network.
How Do I Get A Prepaid Card?
It depends on which of the card you want, there are a few different ways you can apply:
- In-store — Some retailers, like Walmart, will simply allow you to make purchases and load money onto a new prepaid card.
- Online — Many prepaid cards will even allow you to apply through their websites.
- At a bank branch — Some banks, like Chase, offer prepaid cards that you can apply for at your local branch.
Those are the steps you need to follow if you want to get a prepaid card.
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Frequently Asked Questions
How Can I Get Cash Back from My Visa Prepaid Card?
You can simply withdraw cash in several ways. A convenient, fee-free way is for you to then request cash back during checkout at grocery stores. Most grocery stores can simply provide free cash back when you then make use of a Visa Prepaid card.
Ask the store associate beforehand, to make sure. Additionally, you can even be able to withdraw money from participating ATMs. Please check with your card issuer regarding ATM withdrawal fees. If you then have more questions about cash withdrawal, please contact your card issuer.
How Do I Manage My Visa Prepaid Card Balance?
You can also be able to view your balance online at your card provider’s website or sign up for alerts on their mobile app so you can simply check and also manage your balance on the go.
What Is A Visa Prepaid Card?
A Visa Prepaid card is what they call a quick, easy, and secure way to pay online or in person—24 hours a day, 7 days a week.
The all-purpose Visa Prepaid card is simply a reloadable prepaid card that you can even use to withdraw cash, pay bills, or use to make purchases at participating retailers and even service providers, in-person or online.
You can be able to fund the reloadable Visa Prepaid card in a variety of ways, such as through direct deposit or with cash at a participating retail location.
It is been accepted anywhere that Visa Debit cards are then accepted. And you do not have to worry about overdraft fees since your spending cannot exceed the balance on your card.
How Do I Get A Visa Prepaid Card?
It is very easy to get a Visa Prepaid card. You can simply visit our card finder page to find a Visa Prepaid card online from one of our providers. Or you even can pick up a Visa Prepaid card in person from one of the thousands of retail locations or bank branches that will simply offer Visa Prepaid cards. Simply use the Visa Prepaid card locator tool to find or look for a location near you.
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