Lowering of Prepaid Debit Card Fees Make Them Attractive Alternative

Summary

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Prepaid debit cards have a devilish reputation. They're known as high-fee alternatives to debit or credit cards for consumers who can't get a checking account. But that image is on its way out. American Express is entering the prepaid card market with an option that has fewer fees than the typical prepaid card.

Think of prepaid debit cards as the 21st century's version of cash. Load the card with a certain amount of money and use it anywhere plastic is accepted until you spend your last penny. When the money's used up, you reload the card with more cash.

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Extract

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Lowering of Prepaid Debit Card Fees Make Them Attractive Alternative

They look like debit and credit cards, but they aren't linked to a bank account, there's no credit check, and you can't buy now and pay later. Prepai...

See the full content of this document

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