It is estimated that about 40 million Americans do not have a bank account. The reasons for this vary. For many, they are unable to qualify for a bank account because of past bounced checks. Bounce too many checks, and you’ll find yourself in the Chexsystems, which many banks use to evaluate potential new banking customers. For others it’s simply a distrust of the banking system or frustration with limited hours or the hoops one has to jump through to get service.
Best Prepaid Cards
KAIKU® Visa® Prepaid Card
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- No activation fee
- Free In-Network ATMs
- Free direct deposit
- Free customer service
- Free online access & mobile banking
- No minimum balance
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Editor’s Choice |
Walmart MoneyCard(SM) MasterCard® Prepaid Card
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- No issuance fee online
- No credit check or bank account required
- No overdraft fees
- No minimum balance required
- Free Direct Deposit
- $10 bonus with qualifying Direct Deposit (for a limited time only)
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American Express Prepaid Card
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- No Monthly, Annual or Purchase Fees
- No Overdraft, Inactivity or Foreign Exchange Fees
- Purchase Protection*, Fraud Protection, Roadside Assistance*
- No Credit Check
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UPside Prepaid Visa
Most Popular |
- Get the UPside Visa for FREE
- Earn cash back points
- $0.99 monthly fee if you load $500 or more each month (Reg. $4.95)
- PIN and signature transactions are FREE
- Write personal checks online
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Whatever the reason, the unbanked often turned to expensive check cashing stores to cash their weekly paychecks. Time Magazine wrote about this phenomenon, which costs consumers $10 billion a year in fees charged by check cashing stores, payday loan providers, and others. It’s not at all uncommon for consumers to spend 3% or more to get a paycheck cashed.
In addition to high cost, check cashing stores present several other problems to consumers. First, there is the question of security. Taking your paycheck to a check cashing store and walking out with hundreds of dollars in cash is like wearing a bulls eye on your back. Second, there is simply the question of inconvenience. The weekly trip to a check cashing store takes time and gas.
For those that can’t get a checking account or simply don’t want one, there is a no cost, convenient, and safe alternative to check cashing stores–a free prepaid credit card with no fees or low fees.
List of Free Prepaid Cards
The key to finding the right prepaid credit card is to find one that charges no fees or very small fees. All prepaid cards charge various fees, but some of them waive some or all of the fees if you sign up for direct deposit. So here are the top free prepaid cards and low fee prepaid cards to consider.
KAIKU® Visa® Prepaid Card - Editor’s Choice
| KAIKU® Visa® Prepaid Card |
|
- No activation fee
- Free In-Network ATMs
- Free direct deposit
- Free customer service
- Free online access & mobile banking
- No minimum balance
|
| Intro APR |
Intro APR
Period |
Regular
APR |
Annual
Fee |
Balance
Transfer |
Credit
Needed |
| N/A* |
N/A* |
N/A* |
$0.00* |
N/A* |
No Credit Check* |
|
Walmart MoneyCard(SM) MasterCard® Prepaid Card
| Walmart MoneyCardSM MasterCard® Prepaid Card |
|
- No issuance fee online
- No credit check or bank account required
- No overdraft fees
- No minimum balance required
- Free Direct Deposit
- $10 bonus with qualifying Direct Deposit (for a limited time only)
- Use everywhere MasterCard debit is accepted, including shop online, pay bills, get cash at ATMs
|
| Intro APR |
Intro APR
Period |
Regular
APR |
Annual
Fee |
Balance
Transfer |
Credit
Needed |
| N/A* |
N/A* |
N/A* |
$0.00* |
N/A* |
No Credit Check* |
|
READYdebit
| READYdebit® Visa Prepaid Card |
|
- Instant Account Number
- Free Credit Score
- Free Direct Deposit – paycheck, benefits, tax refunds
- Free Unlimited Purchase Transactions.
- Free Online Bill Payment & Check Writing
- No Overdraft Fees or Balance Minimums
- 100% Guaranteed Approval* – No Credit Checks
- Choose Your Card Color – Blue or Pink
|
| Intro APR |
Intro APR
Period |
Regular
APR |
Annual
Fee |
Balance
Transfer |
Credit
Needed |
| N/A* |
N/A* |
N/A* |
$0.00* |
Yes |
No Credit Check* |
|
UPside Prepaid Visa
| UPside Visa® Prepaid Card |
|
- Similar to a checking account with a Visa prepaid card
- Save up to $220 compared with other cards, the first year alone
- 100% approval with no credit check and no activation fee
- $0.99 monthly fee if $500 is loaded each month. (Only $4.95 otherwise)
- Free Direct Deposit from employers or deposit cash at 50,000 retailers
- Write personal checks online: easy to pay rent or other bills
- Earn 1,500 cash back reward points for you first direct deposit load
- Optional companion card available, as if you had a joint checking
|
| Intro APR |
Intro APR
Period |
Regular
APR |
Annual
Fee |
Balance
Transfer |
Credit
Needed |
| N/A* |
N/A* |
N/A* |
$0.00* |
N/A* |
No Credit Check* |
|
American Express Prepaid Card
| American Express® Prepaid Card |
|
- The benefits of Cardmembership start here!
- No Monthly, Annual or Purchase Fees
- No Overdraft, Inactivity or Foreign Exchange Fees
- Purchase Protection*
- Fraud Protection
- Roadside Assistance*
- No Credit Check
|
| Intro APR |
Intro APR
Period |
Regular
APR |
Annual
Fee |
Balance
Transfer |
Credit
Needed |
| N/A* |
N/A* |
N/A* |
$0.00* |
Yes |
No Credit Check* |
|
Ace Visa Prepaid Debit Card
| ACE EliteTM Visa® Prepaid Card |
|
- A card with benefits that matter to you
- No credit check, No application fee, No obligation
- No-Fee Cash Withdrawals at ACE locations*
- Free Direct Deposit – Get paid up to 2 days faster, don’t stand in line or pay check cashing fees*
- Free Anytime AlertsTM – Get your balance and transactions via text or email*
- Free Savings Account – Receive 5.00% APY*
- Secure: Card funds are FDIC insured, backed by Visa Zero Liability*
|
| Intro APR |
Intro APR
Period |
Regular
APR |
Annual
Fee |
Balance
Transfer |
Credit
Needed |
| N/A* |
N/A* |
N/A* |
$0.00* |
Yes |
No Credit Check* |
|
Green Dot® Prepaid MasterCard®
| Green Dot® PrePaid MasterCard® |
|
- $0 Activation Online – with no credit check
- Access over 18,000 MoneyPass® ATMs
- Get a $4.95 credit on your first MoneyPak cash load (see site for restrictions)
- No Monthly fee for any month with at least 30 purchases
- No Transaction fees on US purchases
- No Overdraft fees
- No Minimum balance required
|
| Intro APR |
Intro APR
Period |
Regular
APR |
Annual
Fee |
Balance
Transfer |
Credit
Needed |
| N/A* |
N/A* |
N/A* |
$0.00* |
Yes |
No Credit Check* |
|
Vision Premier® Visa® Prepaid Card – Simple & Fair
| Vision Premier® Visa® Prepaid Card - Simple & Fair |
|
- New - Free Roadside Assistance
- New - Free Savings Account with 5.65% APY
- 1% Cash Back on Gas Purchases
- Free Direct Deposit so you can get paid faster
- Free Bill Pay online or over the phone
- Free Transactions and Customer Service
- No Overdraft Fees, No Interest Fees, and No Hidden Fees
- No Credit Check - 100% Approval
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| Intro APR |
Intro APR
Period |
Regular
APR |
Annual
Fee |
Balance
Transfer |
Credit
Needed |
| N/A* |
N/A* |
N/A* |
$0.00* |
N/A* |
No Credit Check* |
|
How a Prepaid Card Works
A prepaid credit card works very similar to a bank debit or ATM card. You can add money to the prepaid card and use it anywhere Visa or MasterCard debit cards are accepted. Money can be added to most prepaid cards in one of several ways:
- Direct Deposit: Most prepaid cards allow you to have your paycheck, government check, or benefits check deposited directly onto the card. As described below, the direct deposit feature is extremely convenient and allows you to obtain a prepaid card for free or for a small monthly fee.
- Cash Networks: Cash can be added to most prepaid cards through one of several cash networks, including Green Dot, MoneyGram, Western Union, or Visa Money Link. These cash networks are located at many nearby stores, such as CVS, Walmart, Kroger, and UPS.
- Money Share: Prepaid cards also permit you to transfer funds from one card account to another. This is a convenient way to transfer money to friends and family, and is why many college students carry prepaid cards.
Prepaid cards are part of either the Visa or MasterCard debit card network. As a result, prepaid cards can be used anywhere that Visa debit or MasterCard debit cards are accepted (which is just about everywhere). You can also use prepaid cards at ATM machines to withdraw cash.
Benefits of a Free Prepaid Credit Card
Prepaid credit cards offer several benefits beyond a simple ATM card. Perhaps the key benefit is direct deposit of paychecks, government checks, and benefit checks. There are several prepaid cards that will waive all fees if you have your paycheck direct deposited to the card. With direct deposit, your paycheck will be added to your card on payday. You don’t have to go to the trouble and expense of driving to a check cashing store to cash your paycheck. And the money is available immediately. If you receive a government or benefits check, you can also have it deposited directly onto prepaid cards for no fee.
There is one other important benefit to these cards–online bill pay. The top prepaid cards can be used to pay bills online. Just like a bank account, you can have funds transferred from a prepaid credit card to pay car loans, the mortgage, utilities, or just about any other monthly expense. Because of this, a no fee prepaid credit card is about as close to a bank account as you can get, without getting a bank account.
Here are some other benefits of no fee prepaid cards:
- Guaranteed Approval: Unlike a bank or traditional credit card, prepaid cards won’t check Chexsystems or your FICO credit score before approving your application. Approval is guaranteed.
- No Credit Check: Because prepaid cards do not extend credit, there is no credit check run when you apply.
- No Bounced Checks: Because the prepaid card acts as a debit card, there is no risk of overdrawing your account. With no bounced checks, there is no risk of paying a bounced check fee.
- No Over Limit Fees: Credit cards charge a hefty fee when cardholders exceed their credit limit. With prepaid cards, you can only spend what you’ve added to the card, so there is no risk of exceeding a card limit.
- Free Direct Deposit: For the prepaid cards listed below, they all offer free direct deposit of paychecks, government checks, and other benefits checks. In fact, by using direct deposit, you can get the prepaid card for no fees at all.
- No Interest Charges: Since you’re not borrowing money on a prepaid card, you never pay interest. Prepaid cards keep you from spending more than you have.
- No Fees or Low Fees: For the cards listed below, they either charge no fees if you use direct deposit, or their fees are very low (and a lot lower than using check cashing stores).
- Online Bill Pay: This is a big advantage of prepaid cards. You can use your account to transfer payments to creditors or even other cardholders. It makes paying bills easy and safe, and reduces the risk you’ll miss a payment by mistake.
We will add additional free and low cost prepaid cards as they become available. And if you know of other prepaid card offers that you think should be added to the list, please leave a comment.
Published or updated May 22, 2012.
{ 143 comments… read them below or add one }
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Hi,
I want to provide my own prepaid card to my webstore client, where should I go? note I am out US
Cannot these people understand English? You type “Feeless” debit card on Google it takes you to a site with big bold letters “Feeless” debit cards – You go to the first one you see – “Mango” it says “Free” “Feeless” debit card in big bold letters. You go to their TOS page and it says $5 a month service fee. Why do these people not comprehend english?
John, you can use the Mango card for free, if you load $500 or more a month on the card. Otherwise, the monthly fee is $5. That is as “free” as any prepaid card you’ll find.
The Amex debit card is free, meaning no annual fee, not monthly fee, no minimum amount per month, no fees means no fees. The only catch I see is that you need to reload the account from a checking account.
If no fees means no fees, then the AMEX card is not without fees. You can only get money from an ATM once per calendar month. Successive withdrawls earn a $2 fee.
I agree with the use of ATM for withdrawals. Therefore, use once a month and stop. Use another source.
I agree. Except for the fact it’s not only checking you can use to reload Amex Prepaid Card. You can use other sources (e.g., MoneyPak, other prepaid card with routing and account numbers, MoneyGram, etc.).
Amex is probably the BEST in terms of “feeless” prepaid card. Downside is it does not have routing number to do payroll or government direct deposits. It is meant as a tool for spending safely from merchants, online or otherwise.
American Express does have a routing number to do payroll…I just received my card…however, you have to go your account and the information is there (routing, acct number etc)….and as for the $2.00 fee, even your bank will charge a withdrawal fee, especially if you utilize ATM’s other than their own…and there are other means of withdrawal (when making a purchase) other than that AMEX is fee “FREE”…also AMEX offers Roadside Asst…another card you may want to check out is “Vision Prepaid Card”…it offers savings acct w/5.26%, Roadside Asst and 1% cash back on gas purchases…hope this info is helpful
green dot card can reload your card
Hey John the American express card’s only fee is a $2 ATM and the first one of the month is free. I’ve been looking at cards like these for the past 5 hours trying to find the cheapest fees possible. You still have to pay to load cash but, I’d rather give green dot $5 a load instead of $5 for a lcash load and $10 a month plus a dollar everytime you swipe it. Read those fee charts carefully!!!!!!
Bank Freedom (dotcom) is better then all of the ones listed above. GreenDOT sucks big time. They have had over 900 complaints with the BBB yet, they still get a rating of A+++. They owe a lot of people money. Even me. Google “why does greendot have a rating”.
Bill, Bank Freedom’s fees are nearly identical to the Mango MasterCard. And the Mango card offers a savings account that pays 5.1%, which is nice. Still, the Bank Freedom is a good choice. Thanks for the tip.
As for Green Dot, I’ve used the card without any issues. Any company as big as Green Dot will have a lot of complaints. Even Bank Freedom has complaints filed against it with the BBB. I still think it’s a good product.
Don’t state ‘No overdraft fees’ on the listed cards, when everyone knows that overdrafts are not possible on debit cards.
A bank may provide the (not free) service on a checking account, which is different.
Check cashers can be less expensive than the fees banks charge non-account holders. I would rather pay the small fee than go through the contempt and permanent collection of every number on my I.D. even at a local bank.
Money Network card Visa version has just a $3/month charge with no loading fee and 25 cents a purchase even if cash back. A company can provide a free non-Visa version as a payroll card.
Actually a person could just use the employer provided payroll card if associated with MasterCard or Visa. However, the employer reserves the right to charge the account for overpayments or termination disputes.
One is called Comdata.
What are usage fees on the other cards?
The walmart card listed above does have a one time issuance fee & Monthle fees that should be listed above & other fees
That’s right Sandra. I just rec’d my W/M MC and the first thing that jumped out at me was the $3 monthly fee (unless u deposit $1000). I don’t have $1000 to deposit. If I did I wouldn’t need a prepaid card, I’d have a bank debit card.
the green do t card takes longer then they say it will come. maybe about 2-3 weeks pehaps.
Are any of these cards work as a real CC when booking flights, renting cars, etc.?
Car rentals = No (no legitimate car rental company takes debit cards)
Booking flights = Yes
Hotels = Yes (except the bank puts hold on the amount or cost of your hotel room plus incidentals as soon as you check in. If the amount on hold is not all used for the duration of your stay, the remainder stays on hold for more than 7 days.)
Is there a prepaid card that is easy to reload via internet banking vs. going to a bank; store; or Western Union office?
Norm, just about very prepaid card can be reloaded via online bank transfer. I’ve personally used the Mango MasterCard, and reloading it via an online bank account is very easy.
Lowest fee
Western Union Money Wise Fees
0.00 Direct deposit fee
0.00 Online bank loading fee
0.00 Withdraw fee
0.00 Monthly maintnance
0.00 Money Transfer Fee
3.25 Western Union Reload Fee, (but you can reload thru checking for free)
5.25 6 Month Inactivity fee (if you don’t use your card within 6 months)
There are some drawbacks to the Western Union card. I have been denied some services on Amazon and when I called the number on the back of the card I kept getting disconnected. I also had an order cancelled by them for items that were back ordered.
can any of the prepaid be used on auction sites such as ebay
PerkStreet is a absolute rip-off. They say that they do not do a credit check but this is the very reason they denied me. If I am sending my money why is there a credit check anyway. So I sign up on Sunday and get an email on Tuesday that unfortunately they cannot give me a card. But when I signed up on Sunday they had asked for up to $500 in starter funds. When I had checked my bank account there was a debit from this company. I called up and was like how can you take my money without service. She said that it would take up to 7-10 business days to get the money back. I was like it did not take 7-10 business days to get the money. They might have debited on Monday but I did not check until Tuesday. If you know you might not approve an applicant don’t be messing with their money. I think this company is just trying to make money of me in the mean time. I reported them to the BBB and the next move is the FCC and my States’ Attorney General. They messed with the wrong one.
PerkStreet is an absolute rip-off. They say that they do not do a credit check but this is the very reason they denied me. If I am sending my money why is there a credit check anyway. So I sign up on Sunday and get an email on Tuesday that unfortunately they cannot give me a card. But when I signed up on Sunday they had asked for up to $500 in starter funds. When I had checked my bank account there was a debit from this company. I called up and was like how can you take my money without service. She said that it would take up to 7-10 business days to get the money back. I was like it did not take 7-10 business days to get the money. They might have debited on Monday but I did not check until Tuesday. If you know you might not approve an applicant don’t be messing with their money. I think this company is just trying to make money of me in the mean time. I reported them to the BBB and the next move is the FCC and my States’ Attorney General. They messed with the wrong one.
Tasha, not sure why PerkStreet took your money and then denied the card. And it’s ridiculous that it will take that long to get your money back. I’ve had many readers who have had great experiences with PerkStreet, but it’s crazy how they’ve handled your application.
For others reading this comment, keep in mind that PerkStreet is NOT a prepaid credit card. PerkStreet is a bank and the card they offer is a debit card. That may explain why they check an applicant’s credit score. The prepaid cards listed on this page do not check credit.
I received an approval e-mail from PerkStreet last week. They mentioned on the e-mail that in 3 to 5 business days, they will debit my bank account which they did on the third day. I wonder why Tasha’s experience was as such when her application was declined.
Your best bet is to notify the Better Business Bureau. They can help you get your money back. Plus, they can warn anyone else who plans on using this company in the future. Good luck.
Can I use a prepaid card as my paypal account to receive the payment on from a sale that I make to someone. If so how does that work? Can anyone help me, or offer another suggestion if I cannot do the above. Thanks for any help and advice you can give to me.
Glad I ran into this website. I’ve been using AccountNow and they charge 9.99 a month for service fees along with 3.50 for every ATM purchase. I think I’m gonna go with another card.
Oh, no! You got the gold card which is a rip off. The regular card is also a rip off if you are frequent user because it charges you $1 for every transaction.
I just need a card to pay off some debts with the least fees possible and hassle. Please advise.
I am a student.
I have both the AMEX prepaid and Bank Freedom cards. No fees. The AMEX prepaid also insures purchases if they break or get stolen within the first 90 days. Kinda cool.
Is there a prepaid card that will let me receive a payday loan loaded straight onto it??
Kym, just about any reloadable prepaid card can accept bank transfers and direct deposit. You can can an account number and routing number from the prepaid card company once you have a card. These numbers would be required for any transfer. In terms of whether you can have a payday loan transferred to the card, that would depend on whether the payday loan company would transfer funds electronically. I assume that most do, but I don’t know for sure. Best of luck.
My new website will be up live beginning next month. I will need a prepaid card that I can direct my merchant account to deposit direct into the prepaid credit card from customers purchases from my site. I will then use the credit card to purchase the item from my wholesale company. Is there a limit to how much money goes into the card? Some of my items are $5,000 or even more. Volume could push the amount into the 10′s of thousands of dollars. What are the limitations if any for how much money can go into the card??? Thank you, Don Steffensen
Don, prepaid cards do have a limit, and probably would not be ideal for what yo describe. The highest limit I’ve ever seen on a prepaid card is $10,000, and most have limits of $2,500 or less.
Can you please comment this chart.
https://www.kaiku.com/card/compare_us
KAIKU AccountNow 3 Green Dot 4 NetSpend 5 RushCard 6
Purchase Fee No No $4.95 4a No $3.95-$14.95
Monthly Fee $1.95 $9.95 3a $5.95 4b $9.95 $9.95
ATM Withdrawal Fee $1.45 $2.50 $2.50 4c $2.50 $2.50 6a
Customer Service Fee Free Free Free $0.50 5a Free
Credit Card Loading Yes Not Offered Not Offered Not Offered Not Offered
Card-to-Card Transfers Yes Yes Not Offered Yes Yes
Bank Transfers Yes Not Offered Yes Yes Yes
Mobile Banking Yes Not Offered Yes Yes Yes
Direct Deposit Yes Yes Yes Yes Yes
Average Monthly Cost 7 $1.95 $9.95 $5.95 $9.95 $9.95
Average Yearly Cost 7 $23.40 $119.40 $71.40 $119.40 $119.40
there are debit card available for outside US ex.Asian country?
Clay – thanks for posting the link. I checked out Kaiku’s website, it looks amazing!!!
I did not see a free card on this list.
So, I just need a visa card for a recurring internet purchase from overseas. I have very bad credit. Will one of these cards work? I tried a visa gift card, but it didn’t work. I looked at the Walmart card, but looked like it had monthly fees for deposit and for maintenance.
I cant have a bank acoount cause my now divorsed wifes os alot of money so if i get a bank it will all be gone cause her debt so i need a card for me to use but with lowest cost to me an im still not sure i like what i see so far an it will take her along time to pay her debt
Can I book a flight and hotel with a Green Dot card? how does that work
Lynn, you should be able to book a flight with a prepaid card. Booking a hotel room is a bit trickier. If you paid in full at the time of booking, it shouldn’t be a problem. But reserving the room might be an issue. Each hotel chain is different, so you would need to confirm with the specific hotel you wanted to book. To be sure, I’d call the airlines and the hotel in advance.
Is there a prepaid card without the debit logo?
Elle, all prepaid cards are part of a debit network. Most are either debit MasterCard or debt Visa. That being said, I don’t believe the American Express prepaid card has a debit logo. Instead it says “prepaid” above the American Express logo.
I want to get a prepaid credit card to help raise my credit…what is the best one to get? I want a card that reports to all 3 creditors…and suggestions??
Krisit, prepaid cards do NOT help you build credit. At one time some of the did, although they never reported to the 3 main credit bureaus. The best option to build your credit is the Orchard Bank credit card. It’s designed for those with limited or no credit, and its rates and fees are reasonable. Good luck!
what about that upside visa? Does anyone know about that????
Andrea, the UPside is a good option. It’s very low cost and has just about every feature you could want from a prepaid card.
My teenage daughter is going to Italy and Greece with her school this summer. They don’t want the kids carrying a lot of cash and want them to have a debit card to use for purchases and ATM’s. What is the best pre-paid card I can get her that won’t charge fees for each overseas purchase? I have checked US Bank and Bank of America and they both charge 3% per transaction outside of the US.
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