Best Prepaid Cards Are Versatile, Safe, Transparent & Reasonable

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We support reforms to the financial marketplace that protect consumers from unscrupulous banks and lenders.

By Consumers Union on Tuesday, July 30th, 2013

CR Prepaid RatingsA prepaid card is a plastic card that you “load” with money. Prepaid cards are available online, in stories and even from banks. Some prepaid cards can be expensive to use and not all prepaid cards have the same functionality. To help sort things out, we’ve rated prepaid cards for Value, Convenience, Safety and Fee Transparency.

The overall best prepaid cards score well in each of these categories. They are cheap to use, versatile, and transparent about associated costs. The worst prepaid cards came up short in at least one, and usually multiple categories. All the worst cards have relatively high and unavoidable fees, make it hard to find and understand fee information, and some lack the features that make prepaid cards easy to use.

Tips for consumers considering a prepaid card are here.

To read the full report, click here.

Have you used a prepaid card? Tell us about it by leaving a comment.

 

 

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