Prepaid credit cards can be an excellent way for teens to learn about spending money and building credit. However, not all prepaid debit cards are created equal. In this article we’ll break down the best prepaid credit card for a teenager, and help you figure out which one is right for your teen based on their needs!
In this guide, we review the Best Prepaid Credit Card For Teenager, credit or debit card for teenager, reloadable visa card, and reloadable prepaid cards with no fees.
Best Prepaid Credit Card For Teenager
What Is a Prepaid Credit Card?
A prepaid credit card is a type of debit card that functions like a credit card. The difference is that you can only spend the money that has been loaded onto the card. It’s similar to the way a gift card works, but instead of purchasing items at one store and getting cash back, you’re buying products with your own money and receiving rewards in return.
This means it’s important to budget how much you want to spend each month on your teen’s prepaid credit cards so they don’t go over their limit or spend more than they have available on their account. For example, if there are $100 left on a $100 prepaid card, then your teen cannot spend over $100 during their trip – even if they need something else from the store!
How to Get a Teenager a Prepaid Credit Card
Prepaid credit cards are great for teenagers. They’re convenient, and you can use them just like any other debit or credit card. You don’t have to worry about spending too much, because the money is already loaded on the card (unlike a traditional bank account). Plus, there’s no risk of overdraft fees!
However, prepaid debit cards aren’t perfect: they don’t offer all of the same protections as traditional accounts or other types of credit cards. If you want more information about how prepaid debit cards work and whether or not they’re right for your teen, keep reading—we’ve got everything you need to know here at The Penny Hoarder!
What to Look For In A Prepaid Credit Card
You may be thinking, “What’s the big deal? My teenager has a bunch of other credit cards, so why not add one more to his or her collection?”
That’s not what a prepaid card is. A prepaid card is not a credit card; it doesn’t increase your teen’s credit score in any way. In fact, many parents worry that their child may be tempted to spend beyond their means on a prepaid card and wind up being unable to repay the debt if they don’t have an adequate income source. That’s why parents should use them sparingly for emergencies only.
While some people think that prepaid cards are good for building credit scores because they allow users to make purchases online (which could lead to store loyalty discounts), this isn’t true either! Prepaid cards aren’t subject to the same regulations as regular credit cards and won’t help build your kid’s score in any way at all — though they can still be useful if you’re looking for something simple like paying bills online or setting up automatic bill payments via text message (if your bank offers this feature).
Who Offers the Best Prepaid Debit Cards for Teens?
- The best prepaid debit cards for teenagers are those that offer low fees, no overdraft fees and don’t require a minimum balance.
- A good customer service rating is also important in determining the best card for your teen.
- If you want to teach your teen how to save money while earning rewards, then consider a prepaid card that offers a rewards program.
How To Help Your Teen Learn About Spending Money Wisely
Now that you’ve picked out a prepaid credit card for your teen, how do you help them learn about spending money wisely?
Here are some tips to get the conversation going:
- Talk about budgeting. This is one of the most important lessons for your teen to learn—and it’s not just about spending. You can create a household budget together, and then talk about how much each person in your family has spent on groceries or gas so far this month (or even this week). If everyone is aware of how much everyone else is spending, then no one feels like they’re “getting” more than anyone else. It also helps teach kids that they need to spend responsibly even if they don’t have plastic in hand.
- Talk about savings. Whether it’s saving up for something big like a video game console or something small like dinner out after school with friends, having money set aside teaches kids what it really feels like to save up and buy something special without having cash right away—something many adults forget when they run into financial issues later in life! The sooner we start teaching kids this lesson, the better off we’ll all be later on down the road when you’re no longer around to guide them through all these new experiences as an adult.”
Teens can benefit from having their own prepaid credit cards.
As a parent, you want to give your teen the freedom to learn about spending money and develop good financial habits. A prepaid credit card is the perfect tool for this. While many teens are able to get their own credit cards, most parents would prefer to wait until they’re older so there’s a little less chance of them getting into trouble with it.
A prepaid card is similar in many ways, but because it’s not tied to any type of line of credit or overdraft protection (and doesn’t have an interest rate), it doesn’t come with the same risk factors as other kinds of cards do. Prepaid cards can be used just like regular ones: at stores or online; for purchases big and small.
credit or debit card for teenager
What Are the Best Prepaid Debit Cards for Teens?
We’ve compiled a list of the best debit cards for teens that should work for your needs below. Look at each and compare which one makes the most sense for your needs.
1. Copper Card (Best for Combined Teen Independence and Cost)
Copper Banking was founded on the belief that teens should have equal access to financial education and should be empowered to learn by doing. Now, the company is on a mission to help teens gain real-world experience by giving them access to their money in a way that traditional banks can’t.
The Copper app and debit card teaches teens how to make smart financial decisions by creating a platform where parents and teens can connect. With the Copper app, you get easy snapshots of your accounts. And with the Copper Debit Card, it’s easy to shop in-store or online, including with Apple Pay or Google Pay.
Plus, users get exclusive access to engaging advice curated by a team of financial literacy experts who provide tips on how to take control of their financial future.
2. Greenlight (Best Paid Debit Card for Kids and Teens)
The Greenlight debit card allows kids to begin spending, but provides parents with peace of mind by giving them control over where their kids can spend money. Parents also can choose to receive alerts that tell them when, and how much, money is spent on the Greenlight debit card.
Greenlight works like a prepaid debit card, allowing you to transfer money onto the card for your child to pay for expenses at approved locations. You can choose how much money to load onto the card, and your child will be cleared to make approved purchases so long as a money balance backs up the card.
If your child asks for extra money to get added to the card, you can have them take a photo of the purchase they want to make and receive your approval. This gives you control and allows you to have discussions with your child about why a purchase might be a good or bad idea. And if your child has a job, they can add their own funds to the card as well.
Each monthly Greenlight subscription includes debit cards for up to five kids. Replacement cards cost $3.50 each but are free the first time. If you need to replace your card quickly, you can get express delivery for $24.99. The company also offers a personalized card, with your own photo or design, for $9.98 per year.
Greenlight boasts numerous other features, too. For instance, parents can open an investment account for kids to get their children investing in stocks and exchange-traded funds (ETFs) for the first time.
Greenlight also offers monthly savings rewards based on your tier: 1% per annum for Core members, 2% per annum for Max, and 5% per annum for infinity. You may set up “Parent-Paid Interest” between you and your child. This allows you to foot the bill and pay interest on accounts for up to five kids.
The Greenlight debit card is a good choice for parents looking to teach their kids the importance of saving money and making prudent financial decisions. This financial product can be an effective learning tool for helping kids to understand why saving should be a priority and how to simplify paying an allowance or tracking chores.
Greenlight has no minimum age requirements but recommends starting at age 6 or older.
Our Investing & Prepaid Card for Kids Pick Greenlight | The Investing App and Prepaid Card for Kids 4.8 Core: $4.99/mo. Max: $9.98/mo. Infinity: $14.98/mo. (Each account supports up to 5 children.) Pros: Best-in-class parental controls (can prohibit specific stores)Can add brokerage account to invest in stocksIntuitive Parent + Kid appsCompetitive cash back & interest ratesParent-Paid Interest Cons: High price pointsNo cash reload optionsNo parent / child lending Learn More Our Review
3. GoHenry (Best for Customer Service)
GoHenry is a financial solution for minors that includes an app, prepaid debit cards, and even financial lessons. Parents are given an online account that’s linked to, and allows them to oversee and manage, individual accounts for each of their children via both the GoHenry app and the online account portal.
Each child will receive their own GoHenry debit card–you can choose from 45 different designs or create your own customized card for $4.99. Each card is governed by parental controls you can set for your children.
What’s nice about GoHenry is that kids can only spend whatever money is available on the card—and thus parents don’t need to worry about costly overdraft fees or their kids accruing debt.
When you open a GoHenry account, you should receive your children’s debit cards in the mail seven to eight business days later. Once you do, you can set up events such as automatic weekly allowance transfers into your children’s accounts, real-time spending alerts, and one-off or weekly spending limits. You can also keep your children’s spending in check by choosing the stores where your kids can shop, and even blocking/unblocking the card as needed.
With time, the controls provided by the app and the guidance you offer can help your kids develop good money habits around earning, saving, spending, and giving.
But GoHenry really sticks out as one of the best debit cards for kids for customer service. They offer 24/7 phone availability, email access, and social media engagement, ensuring users can solve their problems quickly and with little hassle.
GoHenry has no minimum age requirements but recommends starting at age 6 or older.
4. Current (Best for Transitioning to Adulthood)
Current is a banking app designed for families; it offers both parent and teen accounts, with the latter acting like prepaid debit cards that parents load for their children. The Current app allows you to track your teen’s spending in real-time, set limits on how much your children can spend, and even block specific merchants on its Visa-enabled debit cards. You also get the peace of mind that comes with knowing your children’s money is safe because it’s not cash—no temptations, just a tool parents can use to help teach teens financial responsibility.
Among Current’s features:
Teens will love easy allowance deposits, a card they can use in stores or online, instant gas hold removals when buying gas, and access to more than 40,000 fee-free Allpoint ATMs nationwide. They’ll also have the opportunity to learn about financial responsibility and financial independence through Current’s Budgets feature, which allows them to track their spending and even receive alerts when they get too close to (or exceed) a predetermined limit.
The product has no specifically stated minimum age requirement, but the marketing suggests teens are the target audience. However, you might be able to open an account for a younger child.
5. BusyKid (Best Prepaid Visa Debit Card for Kids)
If you’re looking for prepaid debit cards for kids that also teaches your children about money, lets you pay them allowance, and allows them to spend, consider the award-winning BusyKid app and the connected BusyKid Visa Spend Card.
BusyKid started as an easy-to-use, interactive chore app for kids, but has since added a prepaid debit card that allows your children to spend their money in stores and online. Your children can earn real money by completing chores and other tasks around the house, then use the app to learn valuable financial skills, such as budgeting, saving, and even giving back.
Parents can pay allowance on an ad hoc basis, or they can set up Auto-Allowance. When parents add to their children’s accounts, that money can be split between Save, Share, and Spend:
Also, with BusyKid, the parent isn’t the only person who can add money to child accounts. With a share of the QR code, grandparents, aunts, uncles, other family members, and even friends can add money—from birthday presents to paying for chores–for a $1 fee (plus any credit card or bank transaction costs).
Finally, BusyKid also allows children to invest their earnings through the app. Doing so requires setting up a separate Apex Clearing account. Children can choose to invest in hundreds of stocks and ETFs with as little as $10.
In addition to the $4 monthly subscription, BusyKid charges other fees, including 50 cents per declined transaction, $5 for a card reissue, and a $5 monthly fee for paper statements.
6. FamZoo (Best for Financial Education)
FamZoo is another service for parents interested in opening prepaid debit cards to manage their children’s spending.
Parents can fund a FamZoo account through numerous routes, including bank transfers, Direct Deposit, even cash. Typically, parents will load their primary funding card, then they will transfer those funds onto their kids’ cards. But you do have the option of directly funding kids’ cards.
There are plenty of safety features, too. And there’s no risk of having your bank account information stolen from FamZoo—because FamZoo never asks for it. Adults can monitor transactions, you can temporarily lock and unlock cards, and you can set up real-time alerts for card activity and remaining balances.
After a free trial, this app costs $5.99 per month, but the price goes down if prepaid in advance.
However, FamZoo rates as our top education choice because of its robust financial education library. Many of the functions have financial literacy in mind, too. For instance, payment checklists teach kids the value of a dollar by tying chores and odd jobs to rewards and penalties.
Spend, Save, and Give accounts separate funds into different purposes. And with “Parent-Paid Interest,” you can teach your kids the power of compound interest over time.
FamZoo has no minimum age requirements but recommends starting earlier rather than later.
7. Till Financial (Best for Spending Lessons)
Earning, saving, and investing money are important cornerstones for every child to learn before setting out into the world. But just as important is the fourth pillar: how to spend money wisely.
The free debit card and banking platform for kids describes itself as a collaborative family financial tool that empowers children to become smarter spenders. They do this by designing their banking product to encourage “open and honest” discussions between parents and kids.
Further, they allow kids to establish savings targets based on goals. For example, if a teen wants to save up to buy a new laptop or iPad, they can set up an account to save toward this goal themselves, but also solicit help from family members to contribute the same (or more) funds. They can also track their progress along the way, which helps to encourage them to continue saving because the path to their goal feels more real.
Till Financial also wants to further their money education effort by helping kids to “learn by doing,” gaining confidence in their spending decisions along the way. They do this by giving them responsibility over their financial actions through the service, such as learning about the costs of recurring subscriptions like Netflix or Spotify.
Another thing that stands out about Till Financial are all the various ways children can receive money. These include:
If you’d like to sign up for a free account with Till Financial, you’ll be equipped with a bank account, digital and physical debit card, and goal-based savings features. The debit card can be used online or in person, and parents enjoy safety features like one-tap card freezes should their child lose their physical card.
8. Axos Bank First Checking (Best Free Debit Card for Teens at an Online-Only Bank)
First Checking by Axos Bank is the ultimate starter checking account for teens, and it comes with a debit card.
The world of banking can be a little scary, but not with the simplicity and power of Axos’ First Checking Account. It works as a joint checking account between a parent or guardian and their teen, allowing for easy-to-set, customizable parental controls with a debit card dashboard.
Parents and teens can manage almost every part of the banking experience through a convenient mobile app or through the online desktop portal. Perfect for modern families who always find themselves on the go.
The First Checking account from Axos Bank gives teens their first taste of financial independence by giving them their own checking account (which pays interest!) and free debit card for teens. But it also provides safeguards against teens getting carried away with the money held in their account, such as daily limits on cash transactions ($100) and debit transactions ($500).
Further, you can receive up to $12 in domestic ATM fee reimbursements per month, and you avoid any monthly maintenance, overdraft, and non-sufficient funds fees—essentially making the account free! Meanwhile, as of winter 2022, users can also earn a modest 0.10% APY on any balance—lower than the national average rate, but fair for a simple teen checking account and debit card product.
The account carries the highest level of security through biometric authentication techniques like fingerprint readers, voiceprints and facial recognition (pending smartphone feature availability).
The product has a minimum age requirement of 13 and is recommended for ages 13 to 17. It will convert to an Axos Checking Account after the minor reaches the age of majority.
9. Mazoola (Best for COPPA Compliance)
Mazoola helps parents teach their children financial literacy with the first and only (Children’s Online Privacy Protection Act)-compliant mobile wallet for kids.
Mazoola has several features—from transaction monitoring and setting spend limits on specific retailers to managing chores and automatically depositing allowances for chores completed—that allow parents to teach their kids about money and help them keep some form of control over spending.
More importantly, with 1.25 million children victimized by ID theft last year, Mazoola is the only platform that is certified to handle your children’s information in a secure way.
Some of Mazoola’s Key Features:
10. Chase First Banking (Best Free Debit Card for Kids and Teens)
Ready to teach your little ones about money, but not quite sure if you have the time, patience and expertise?
Chase First BankingSM offers simple banking for both of you in one location: the Chase Mobile® App—for free. Manage all accounts with this mobile app, check your account balance, encounter no monthly fees, and find yourself able to withdraw money at 16,000 Chase ATMs around the country.
At the heart of Chase First BankingSM sits one of the best debit cards for kids and teens that works anywhere Visa is accepted. While technically not a prepaid debit card, the Chase First BankingSM account doesn’t charge overdraft fees, making it like a prepaid debit card.
Need insight and oversight into your child’s spending and saving? You can set spending alerts and limits as well as specific locations all in your Chase Mobile® banking app.
Teach your kids to spend, save and earn — all from the Chase Mobile® app. Chase First BankingSM helps parents teach teens and kids about money by giving parents the control they want and kids the freedom they need to learn.
To get started, you’ll first need to be a Chase customer with a qualifying Chase checking account.
Once you open a qualifying Chase Checking account, you m
reloadable visa card
Reloadable debit cards work like traditional debit cards. Customers can load funds and use to shop, transfer money, pay bills, withdraw cash from an ATM and receive direct deposits of payroll and government benefits. They can be used anywhere Visa, MasterCard or American Express cards are accepted
How to set up your reloadable debit card
Browse through the various reloadable debit cards available at Walgreens and decide which card is right for you.
Purchase and register your card
Visit any of our >8,000+ locations to purchase and load your card. Funds on temporary cards can be used for purchases. All cards come with instructions to register. To register your card, you will need to provide your name, address, date of birth and Social Security number. Once registered and your information is successfully veried, you will typically receive a personalized card in the mail approximately 7–10 business days.
Add funds to your card with direct deposit or with cash in store at any of our convenient locations.†
Use your reloadable debit card to shop, get cash at ATMs, pay bills online or shop in stores anywhere Visa, MasterCard or American Express cards are accepted.
Find these cards at your local Walgreens
ScarletTM Bank Account and Mastercard® Debit Card
Walgreens Cash rewards when you use your Scarlet debit card for purchases‡
* Free in-network ATM withdrawals at over 55,000 Allpoint ATMs.
† Terms and conditions apply. You can add cash at other locations for up to $3.95. For details, please visit getScarlet.com/Legal. Message and data rates may apply.
‡ Must be a myWalgreensTM member. Walgreens Cash rewards are not legal tender. No cash back. Walgreens Cash rewards good on future purchases. Exclusions apply. Complete details, including Walgreens Cash rewards expiration dates and Demand Deposit Account Rewards Terms, at getScarlet.com/Legal. ScarletTM Bank Account is a demand deposit account established by Pathward, National Association fka MetaBank, Member FDIC. Scarlet account terms, conditions and fees apply. Please see Deposit Account Agreement for complete details. Card is issued by Pathward pursuant to license by Mastercard® International Incorporated and the circles design is a registered trademark of Mastercard International Incorporated.
Green Dot Visa® Debit Cards
Your banking. Your choice. Green Dot has an account for you.
Green Dot Visa® Debit cards have smart everyday banking features to help you better access, budget and manage your money—anytime, anywhere you need it.
See account agreement for terms and conditions. When you direct deposit $500 or more in the previous monthly period, otherwise $7.95 per month. Direct deposit early availability depends on timing of payor’s payment instructions and fraud prevention restrictions may apply. As such, the availability or timing of early direct deposit may vary from pay period to pay period. $15 fee may apply for each purchase transaction not repaid withing 24 hours of authorization of first transaction that overdraws account. Overdrafts paid at our discretion.
See account agreement for terms and conditions. $15 fee may apply for each purchase transaction not repaid withing 24 hours of authorization of first transaction that overdraws account. Overdrafts paid at our discretion.
See account agreement for terms and conditions. Cash back cannot be used for purchases or cash withdrawals until redeemed. Claim cash back every 12 months of use and your account being in good standing. 2.00% Annual Percentage Yields (APYs) are accurate as of 3/8/21 and may change before or after you open an account. $15 fee may apply for each purchase transaction not repaid withing 24 hours of authorization of first transaction that overdraws account. Overdrafts paid at our discretion.
Reload fees and limits apply.
Service fee and limits apply. Must be 18 or older to use this product. Card must be activated and personalized with cardholder’s name. Check card eligibility and other requirements at MoneyPak.com
GO2bank Visa® Debit Card
See account agreement for terms and conditions.
Direct deposit early availability depends on timing of payor’s payment instructions and fraud prevention restrictions may apply. As such, the availability or timing of early direct deposit may vary from pay period to pay period. $15 fee may apply for each purchase transaction not repaid within 24 hours of authorization of first transaction that overdraws account. Overdrafts paid at our discretion. $3 for out-of-network withdrawals. ATM owner may also charge a fee. ATM limits apply.
Serve is made with you in mind, with flexible options to fit your life. With a suite of options to choose from, Serve allows you to handle your money with ease. Our cards give you the freedom to spend online or in stores, the protection to safeguard your money, and the convenience of easy access:
Get rewarded with unlimited 1% cash back when you spend money in stores or online.1 The funds are immediately available to add to your Account, so you don’t have to wait to enjoy the rewards. Earn money as you spend money.
1 With the Serve Cash Back card, earn 1% Cash Back on purchases (less returns/credits) rounded to the nearest dollar, added to your Account after you use your card. Rounding purchases to the nearest dollar means that you won’t earn a fraction of a penny in Cash Back. For example, a purchase of $0.01-$0.49 rounds to $0.00 (you don’t earn Cash Back), a purchase of $0.50-$0.99 rounds to $1.00 (you earn $0.01 Cash Back), and so on. Account spend limits apply. Cash Back is typically applied to your Account promptly after your purchase, but could take up to 60 days. Cash Back can be redeemed and used only for future purchases made with your card and cannot be redeemed for cash or otherwise exchanged for value. Subaccounts are not eligible to earn Cash Back. ATM transactions, fees and Serve Online Bill Pay are not purchases and do not earn Cash Back. For full terms and restrictions, see the Cash Back User Agreement at sere.com/legal.
The Serve® American Express® Prepaid Debit Account and card (“Serve Account”) are issued by American Express Travel Related Services Company, Inc. licensed as a money transmitter by the New York State Department of Financial Services and other money transmitter regulators. NMLS ID# 913828. Serve Account terms, conditions and fees apply. Please see Consumer User Agreement for complete details at serve.com/legal.
Copyright © 2020 InComm Payments. All Rights Reserved. All trademarks are the property of their respective owners.
Whether you’re looking to budget, pay bills online or manage day-to-day expenses, free reloads means you can add cash often without incurring fees. Load today, tomorrow and anytime you need at over 45,000 locations nationwide.
The Serve® American Express® Prepaid Debit Account and card (“Serve Account”) are issued by American Express Travel Related Services Company, Inc. licensed as a money transmitter by the New York State Department of Financial Services and other money transmitter regulators. NMLS ID# 913828. Serve Account terms, conditions and fees apply. Please see Consumer User Agreement for complete details at serve.com/legal.
Copyright © 2020 InComm Payments. All Rights Reserved. All trademarks are the property of their respective owners.
This card gives you the freedom to spend when and where you want, on your own terms. With no hidden or monthly charges, you only pay a small fee when you make a purchase. Know what you pay and pay as you go.
Serve® Pay As You Go Visa® Prepaid Card is issued by MetaBank®, National Association, Member FDIC, pursuant to a license from Visa U.S.A. Inc. Card may be used everywhere Visa debit cards are accepted. Serve Account terms, conditions and fees apply. Please see Cardholder Agreement for complete details at serve.com/legal
Copyright © 2020 InComm Payments. All Rights Reserved. All trademarks are the property of their respective owners.
Netspend® Visa® Prepaid Card
1 ID verification required. We will ask for your name, address, date of birth, and your government ID number. We may also ask to see your driver’s license or other identifying information. Card use restrictions may apply. See netspend.com or card order page for details. Residents of Vermont are ineligible to open a card account.
2 Faster funding claim is based on a comparison of our policy of making funds available upon receipt of payment instruction versus the typical banking practice of posting funds at settlement. Fraud prevention restrictions may delay availability of funds with or without notice. Early availability of funds requires payor’s support of direct deposit and is subject to the timing of payor’s payment instruction.
3 Netspend does not charge for this service, but your wireless carrier may charge for messages or data. The Netspend Visa Prepaid Card is issued by Pathward, National Association, Member FDIC, pursuant to a license from Visa U.S.A. Inc. Netspend is a registered agent of Pathward, N.A. Card may be used everywhere Visa debit cards are accepted. Certain products and services may be licensed under U.S. Patent Nos. 6,000,608 and 6,189,787. Use of the Card Account is subject to activation, ID verification, and funds availability. Transaction fees, terms, and conditions apply to the use and reloading of the Card Account. See the Cardholder Agreement for details.
© 2022 Netspend Corporation. All rights reserved worldwide. All other trademarks and service marks belong to their owners.
PayPal Prepaid Mastercard®
1 PayPal Transfers require a PayPal account and a personalized card, which arrives within 10 business days after activation of your instant-issue card. If you do not already have a PayPal account you will link to this Card, visit www.paypal.com to get one, or you may get one when you activate this card online. PayPal account required for certain features, but not to have the PayPal Prepaid Card. Transfers may not exceed $300 per day/$2,000 per rolling 30 days and are limited to the funds available in your PayPal account. Transfers may only be made in the name of a valid PayPal Prepaid Mastercard Cardholder. Only one (1) PayPal Prepaid Mastercard may be linked to one (1) PayPal account. PayPal Transfers cannot be reversed or canceled. The Bancorp Bank and Mastercard are not affiliated with, and neither endorses nor sponsors the PayPal.com online account to which various funding sources, including a PayPal Prepaid Card, may be linked.
2 Faster funding claim is based on a comparison of our policy of making funds available upon receipt of payment instruction versus the typical banking practice of posting funds at settlement. Fraud prevention restrictions may delay availability of funds with or without notice. Early availability of funds requires payor’s support of direct deposit and is subject to the timing of payor’s payment instruction.
3 No charge for this service, but your wireless carrier may charge for messages or data.
The PayPal Prepaid Mastercard is issued by The Bancorp Bank, Member FDIC, pursuant to license by Mastercard International Incorporated. Netspend, a TSYS® Company, is an authorized representative of The Bancorp Bank. Certain products and services may be licensed under U.S. Patent Nos. 6,000,608 and 6,189,787. Use of the Card Account is subject to activation, identity verification and funds availability. Transaction fees, terms, and conditions apply to the use and reloading of the Card Account. See the Cardholder Agreement for details.
reloadable prepaid cards with no fees
If you are looking for a similar yet effective alternative to a debit card, a prepaid card may be your solution. Prepaid cards allow you to load money onto them to make any purchases at any location. Essentially, they function similarly to debit cards, without having any connection to a bank account. This makes prepaid cards a great option if you have poor banking history. Prepaid cards are handy, but you must be careful. Some of them come with fees that can add up and cause you to spend more money. Below, we’ve listed the top ten reloadable prepaid cards with no fees. We also get into the specifics of prepaid cards, how they work, and what benefits you can receive from using them. Use this detailed guide to pick the right prepaid card for you.
What Is a Prepaid Card?
A prepaid card is a method of payment that you can use to make everyday purchases, such as gas, groceries, clothing, and more. However, before you can use a prepaid card to make a purchase, you must “load” it with money. Almost all major banking institutions, such as Visa, MasterCard, and American Express offer prepaid cards. The concept of prepaid cards seems fairly simple and easy, but you must be careful to read the card’s rules and requirements before you acquire one. For example, some cards require you to pay a number of fees to keep it activated, including annual or monthly fees. You may also find cards that require you to load it with a specific amount of money. The good news about prepaid cards is that there typically aren’t any limitations on what you can buy or where you can buy from. Some prepaid cards will even allow you to withdraw money at an ATM, send money to other people, and receive rewards for making purchases. More importantly, if you’re concerned about your credit history, you will not need to pass a credit check in order to obtain most prepaid debit cards.
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How Do Prepaid Cards Work?
The first step to using a prepaid card that you’ve acquired is to load money onto it. While some cards may let you choose the amount of money that you put on the prepaid card, other cards may require you to load the card with a specific amount. Once you’ve done this, you can use the card to make purchases at any location, both in-person and online, that accepts cards as a method of payment. When you’ve used all of the money on the card, reloadable prepaid cards will allow you to put more money on them so that you can continue making purchases.
What Can I Use Prepaid Cards for?
Essentially, you can use a prepaid card to purchase anything that accepts a card as a method of payment. Prepaid cards are also great for emergency uses and vacations. If you are traveling far from home and don’t want to risk losing your debit or credit card, you can bring a prepaid card to make purchases. Prepaid cards are also a good tool for children. If you have a teenager who doesn’t quite need a bank account yet, you might consider giving them a prepaid card that they can use for necessary purchases. Or, if you give your children allowances, you can also load their allotted allowance money onto the card. Prepaid cards offer plenty of benefits, and you can truly use them how you deem fit. Further below, we talk more about how you can benefit from using a prepaid card.
You may also want to read:
The 10 Best Zero-Fee Reloadable Prepaid Cards
Below, we discuss the ten best reloadable prepaid cards that don’t have any annual, monthly, or reloading fees. Any of the cards we listed are fantastic options if you are looking for a prepaid card that will be reliable. In fact, most of them come from big-name banking institutions, such as Visa®, American Express®, and Mastercard®. Check out some of these cards’ best features, and decide which one will work best for your needs.
Chime Credit Builder Secured Visa® Card
When it comes to reloadable cards, chime has to be our #1 pick for several reasons. The card has no annual fees, no interest, it’s easily reloadable from your mobile phone using the chime app, and best of all it helps you build credit by reporting your balances to all the major credit bureaus. Chime doesn’t check your credit before you apply for their visa card which makes card approval easy and seamless.
Bluebird® Prepaid Debit Card
The Bluebird® prepaid card is a highly recommended prepaid debit card that offers users plenty of benefits without the annoying fees. This card is a great option for parents who want to teach their children money management skills, as it does not allow you to go into a negative balance. You can also load the card with money via direct deposit, money transfers, checks, or at a cash register at a Walmart location.
Some of the other pros to this card are that you can opt to receive alerts when the balance begins to run low, and you can withdraw cash at any MoneyPass ATM in the country. However, with the Bluebird card, you cannot get cash back at a retailer. Additionally, some extra perks from the card will cost you a small fee.
Netspend® Visa® Prepaid Card
The NetSpend Visa Prepaid Card is one of the best no-fee prepaid cards. With this card, you will not have to worry about overdraft fees, activation fees, credit checks, or minimum balances. The NetSpend mobile app allows you to manage the money on the card with ease, and you can load money onto the card via direct deposit or checks. One of the best features about this card is that it is insured by the FDIC. This means that it is a safe card to use to make purchases. NetSpend also makes it easy for customers to replace their card, in the event that it gets lost or stolen.
PayPal Prepaid Mastercard® Card
If you’re looking for a prepaid card that is quick and easy to use, the PayPal Prepaid Mastercard® Card is a great option. PayPal has dominated the online banking world by providing effective technology and processes. This card is especially easy to use if you already have a PayPal account. To add more money to the card, all you have to do is move money from your PayPal account onto the card, which you can do online. This card offers perks that most others don’t, including cash back offers and deals from the stores that you like to shop at. This card is insured by the FDIC.
Brink’s Money Prepaid Mastercard®
If you’re in need of a prepaid debit card quickly, you will appreciate the quick activation process for the Brink’s Money Prepaid Mastercard® Card. When you load money onto the card using direct deposit, you are granted quick access to your money. You will also enjoy the convenience of the mobile app, which allows you to manage your money at any time of the day. Additionally, this card is insured by the FDIC, so you can be sure that your money is protected. This card is also free of pesky monthly fees, allowing you to save your money.
MOVO® Virtual Prepaid Visa® Card
The MOVO® Virtual Prepaid Visa® Card is amongst the best prepaid debit cards because it is an excellent economical choice. One of the benefits to this card is that you can withdraw cash from any ATM that accepts Visa cards. Additionally, you can have easy online access to manage your card through the Movo mobile app. This app makes it easy to add more money to the card via PayPal or direct deposit. Overall, this card has no fees that you need to worry about. However, you must be conscious of using your card regularly. If you don’t use the card for three months, Movo will charge you a $4.95 monthly fee until you resume using the card.
Starbucks® Rewards Visa® Credit Card
With a maximum balance of $10,000, you will enjoy the flexibility of the Starbucks® Rewards Visa® Prepaid Card. With this card, you are not limited to making purchases at Starbucks. In fact, you can use it anywhere that accepts Visa as a payment method. This card does not have any monthly or activation fees, and if you’re an avid Starbucks drinker, you can link your card to your Starbucks rewards account. Unfortunately, the downside to this card is that you cannot withdraw money from an ATM. You will also see a 3% fee if you use the card outside of the United States, so we don’t recommend this prepaid card for travel purposes abroad.
Fifth Third’s Access 360° Prepaid Card
The Fifth Third’s Access 360° Prepaid Card is a great prepaid debit card that gives you the option to go without paying fees, but you must be careful. This prepaid card does come with a $4 monthly fee, but you have two options to waive that fee: open a checking account with Fifth Third, or deposit a minimum of $500 a month onto the card. However, there are no activation or inactivity fees to worry about. One of the coolest features about this card is that you are allowed to have joint owners. This makes it a great card for parents and children.
Serve® Prepaid Card
The Serve® Direct Deposit Prepaid Card gives you access to easy money management without a credit check, hidden fees, and minimum balances. With this card, you can pull cash for free from more than 30,000 MoneyPass ATM locations in the country, comes with fraud protection security, access to a mobile app, and the customer service team at American Express.
This card typically has a monthly fee of $6.95, but you are able to waive that fee as long as you deposit at least $500 on the card monthly, via direct deposit.
WeSwap Mastercard® Prepaid Card
The WeSwap Mastercard® Prepaid Card is a good prepaid debit card without fees, but we’ve ranked it at the bottom of the list because you have to be very careful with how you use it. Or else, you could find yourself paying extra money. This card allows you to add money quickly and free of charge via direct deposit and checks. You can also make withdrawals for free, as long as the amount is at least $200. This card is one of the best choices for people who want to obtain a prepaid card well-suited for travel. This card works in more than 180 countries and allows you to store money in 18 different currencies. However, making instant conversions can cost you.
The Difference Between Prepaid Cards and Debit Cards
It’s important to note that prepaid cards are different from debit cards. Although both debit cards and prepaid cards allow you to make purchases, the major difference between the two is that a typical debit card is associated with a bank account. There is also a difference between prepaid cards and credit cards. When getting any type of card, it’s important to read the fine lines to make sure that you are not signing up for something you don’t really need or want. Additionally, prepaid cards are different from gift cards, despite a few similarities. You can only use gift cards to make purchases at designated locations. With a prepaid card, you can buy anything that you want from any location. Although prepaid cards are not the same as gift cards, prepaid cards still make great gifts—especially if you want to give somebody the freedom to make purchases anywhere.
Final Thoughts on Reloadable Prepaid Cards
Prepaid cards and debit cards are not the same thing. However, they have similar functions. If you are looking for a card that you can use to purchase items, without having to link it to a bank account, a prepaid card may be your best bet. Some prepaid cards, however, come with hefty fees. To avoid extra spending, you should find a prepaid card that doesn’t require you to pay additional fees. In this article, we discussed the pros and cons of the ten best reloadable prepaid cards with zero fees. To find the right card for you, consider your needs, as well as what you plan on using the card for.
To find all the details about the terms and conditions of an offer, check the online credit card application. We put a lot of effort to present you accurate and up-to-date information; however, we do not guarantee the accuracy of all credit card information presented.
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