There several prepaid cards that charge their users fees of almost $100 yearly while there is a handful that very generous to their clients and hardly charge any fees. At the close of the first quarter of the year 2015.The cards that rocked as the Best Prepaid Cards from various reviewers list are the cards that charge minimal monthly fees and rarely dime and nickel you on each transaction.
Upside Prepaid Visa Card
While most cards will charge you fees of $10 on the monthly basis, Upside Visa card will charge you something that is less than one dollar. If you do a minimum of $500 as a direct deposit and in case you fail to meet the $500 limit, you will be entitled to pay just $2.99.
More still, with this card, you can pocket cash without any charge at any point-of-sale. If you decide to do an ATM withdrawal, it will cost you only $1.70 that is one of the lowest rates you will find among various prepaid cards.
The Upside card even has a reward program. You can quickly earn a cashback of up to 15% on purchasing your stuff at Upside's online mall as a reward program for their customers. A whopping 500 points on activating your Upside card online and 1,000 points on every direct deposit sign will be yours courtesy of Upside not forgetting the prepaid cell phone refill at a dollar for every 5 points. You will be rewarded with a $20 credit once you accumulate 2,000 points.
Walmart has over the time, offered one of the top-notch values in the arena of the prepaid cards. It is probably not among the cheapest cards on the market, but Walmart Money Cards fees are relatively small. The availability of the Walmart stores creates a wider convenience when it comes to reloading the cards with cash.
If you get your Walmart card in any of their stores, you will be required to pay $3 but if you apply for one online, it becomes free. The monthly cost of maintenance amounts to $3.00, which again is one of the lowest you can find around, and the 3 dollar fees for every reload that you do at Walmart stores. A paycheck direct deposit will cost you no money at a Walmart store. There will be no reload cost if you collect your paycheck onto the card, but you will be required to meet a $3 check-cashing fee. Their ATM fee is only $2, which is very reasonable as compared to the rest of the cards.
Walmart also gives you a cashback of 1% on your gas purchase done with their card as a reward program.
Capital One Prepaid Card
The prepaid capital card is genuinely fee-free card. There are no charges for the activation of the card or even initial cost of purchase, and you can avoid paying their monthly fee of $4.95. If only you load to the card any amount exceeding $500 every month. Direct deposits are free, and you can deposit your salary or benefits check for up to $7,500 every month.
For every first ATM withdrawal, you entitled to pay no fee but for any other subsequent withdrawal, you will pay only $1.95. They do not charge you for any cash reload. While many prepaid card companies will charge you for services rendered via customer care desk regarding your card, it is not so with Capital One prepaid cards. Even Electronic bill payment is free.
Mango MasterCard Prepaid Card
The Mango MasterCard has proved to be one the cards that offer some of the lowest fees for all cards. Better still, it allows you to open a savings account paying the highest rates on deposit in the banking industry.
While you will enjoy free direct deposit, your activation will cost you not a dime, and there is no sign up. You may be asked to give a monthly payment fee of $5.00, but you can easily avoid that by loading $500 every month to your card. Balance inquiries cost only 50 cents, and each ATM withdrawals will cost you $2.
The unique feature that makes Mango fantastic is the free savings account that will pay you a whopping introductory yearly percentage yield of 5.1% the standard rate being 3%. Even though on the flipside they do not offer the option of online bill payment, your money is well insured with FDIC.
Green Dot Prepaid Card
If there is a card that is known to bear some weight on fees, it is this card. However, is it a reason good enough to make you ditch a card that you cherish while most of these charges are avoidable? Green Dot has a $5.95 monthly fee, which they always waive in any month in which you make at least 30 purchases or load your card a minimum of $1,000. That is certainly manageable especially if you have direct deposit with your job.
If you use the numerous Green Dot cash machines, you will be exempted from the $2.50 ATM charges and any reloading with direct deposit will be free as well. For every first deposit any amount exceeding $250, you get a $10 bonus.