Best Prepaid Debit Cards [2024]: Low Fees and Big Rewards

Prepaid debit cards are just one of many payment options consumers have available to them, but they’ve become relatively popular in recent years. According to Pew Charitable Trusts, five percent of adults use a prepaid debit card at least once a month.

Whether you want an alternative to a credit card, don’t want a checking account, or are having trouble getting approved for a bank account, a prepaid debit card can be a worthy alternative. But many prepaid cards charge hefty fees, which makes them difficult to justify compared to a free checking account. The best prepaid debit cards charge fewer fees, or at least provide enough value to make the costs worth it.

Let’s take a look at what a prepaid debit card is, how a prepaid debit card works, and what you should consider when you’re deciding whether a prepaid debit card is right for you.

How we evaluate products

There are a lot of prepaid debit cards on the market, and we did a lot of research to find the best prepaid cards based on a variety of factors.

For starters, we focused on cards that either don’t have a monthly fee, make it possible to waive the monthly fee, or offer enough value to make up for it. We limited the cards that charge a fee to use it for purchases, but some cards that offer this option have other benefits that make up for it.

We also looked at the benefits some of these cards offer, including several free reloading options, multiple ways to transfer money, spending rewards, savings options, and more.

The best prepaid debit cards

• Bluebird
• Regions Now card
• Netspend
• ACE Elite Visa Prepaid card

Comparing the best prepaid debit cards

There are several financial institutions that offer prepaid debit cards, but as with credit cards and even the best checking accounts, not all of them are created equal. As you look for the right fit for you, here are our top five prepaid debit cards to help get you started on your search.

Card name	Great fit for….	Monthly fee	Free reload options
Bluebird	Low fees	None	Direct deposit; mobile check deposits (10-day waiting period)
Regions Now card	Cash back	$5	Direct deposit; at Regions Bank, or any reload partner
Netspend Prepaid card	Large reload network	None	None
ACE Elite Visa Prepaid debit card	Linked savings account	$9.95 or $5 with $500 monthly direct deposit	Direct deposit; mobile deposit (standard waiting periods)

Bluebird: Best for low fees

Monthly fee: $0

ATM network: 37,000 MoneyPass ATM locations

Bluebird by American Express is one of the least expensive prepaid debit cards available. There’s no monthly fee or a fee to activate the card, but you must purchase and activate it online, there’s no option to buy one in a retail store any longer.

Free reload options include direct deposit; cash or debit card at Family Dollar; and online with mobile paper check deposits. Keep in mind that there’s a 10-day waiting period with mobile deposits. If you want your money faster (within minutes), there’s a fee of 1% or 5% of the check amount (with a $5 minimum), depending on the type of check.

You can also add cash at select retail stores, but there’s a fee of up to $3.74 at Walmart and up to $3.95 at other retail locations. The card’s ATM fee is $2.50 for out-of-network ATMs, but there are more than 37,000 free locations in the MoneyPass ATM network.

Bluebird is FDIC insured through its partner, Pathward, N.A.

In addition to low fees, the card offers many perks including:

• Purchase protection
• Roadside assistance
• Access to Amex Offers
• Access to American Express Experiences
• 2-day early access to direct deposits

Visit Bluebird

Regions Now card: Best for Cash back

Monthly fee: $5

ATM network: 1,400+ ATMs

The Regions Now Card is a reloadable prepaid card with a low monthly fee and that allows users to earn cash back. The minimum load is $10 and there’s no fee to reload the card, nor is there an inactivity fee, which I find nice since you may only want a prepaid card for certain situations.

What sets this card apart is its cash back offers through Regions Offers. If you activate offers before you shop and use your prepaid debit card to check out, you’ll earn cash back directly to your card.

There’s no overdraft feature on the card, so you don’t have to worry about going over your balance and you can waive the monthly fee by using your card for at least seven transactions a month. You can also set up direct deposit for no fee, or use the mobile deposit feature for a fee of 1% to 4% of the check amount.

Regions is FDIC insured.

Other features the card offers:

• Add to your digital wallet for seamless payments
• Free access to online banking
• Freeze your card at any time with LockIt controls

Visit Regions

Netspend: Best for large reload network

Monthly fee: $9.95 or $5 with monthly direct deposit of at least $500

ATM network: Can use any ATM (for a fee)

The Netspend prepaid card works with 130,000 partners in its reload network including 7-Eleven, CVS, Dollar General, Walgreens, and Family Dollar so you don’t have to go far to find somewhere to reload your card.

You can use your prepaid card in any store or online and can check your balance anytime by logging into your account center. I also like that Netspend offers “Anytime Alerts” that lets you know of any transactions occurring on your card.

A few unique features the card includes are:

• Payback Rewards: These are automatic deals sent to you based on your regular spending. The more you use your card and activate offers, the more you will get.
• Purchase Cushion: If you’re short $10 or less on a purchase, Netspend may cover the cost and take it from your next reload.

The downside is there are many fees, including a $3.95 reload fee and $2.95 ATM withdrawal fee, which can get pricey if you use it often. There is also a $2 signature or PIN purchase fee.

The Netspend Prepaid Card is issued by Pathward, N.A., and Republic Bank & Trust Company, Members FDIC.¹

Visit Netspend

ACE Elite Visa Prepaid Debit Card: Best for savings

Monthly fee: $9.95 or $5 with monthly direct deposit of at least $500

ATM network: 900+ locations

The ACE Elite Visa Prepaid debit card offers all the features of a traditional bank account, and you can even open a free high-yield savings account linked to your debit card and earn up to 5.00% (as of 9/27/24) APY on up to $1,000 saved.

ACE has 900+ ATM locations for free ATM transactions and if you set up direct deposit, you get paid up to two days early. ACE has an online account dashboard and mobile app so you can check your balance 24/7 and if any friends or family have an ACE prepaid card, you can transfer money to them for free.

To withdraw cash, you have a few options, each which has a fee:

Withdrawal method	Fee
Any financial institution	$3
At any reload location	The greater of 2.75% of amount withdrawn or $4
ATM	$2.95

To add money to your account, you’ll incur the following fees:

Deposit method	Fee
Direct deposit	$0
Cash reload at reload location	Up to $3.95
Standard mobile deposit	$0
Expedited mobile deposit	2% to 5% of check amount

The ACE Elite Visa Prepaid card is issued by Pathward, N. A., Member FDIC.

Visit ACE Elite

Prepaid debit cards vs. regular debit cards

The primary difference between a prepaid debit card and a regular debit card is that a regular debit card is tied to a checking account with a bank or credit union. You can spend up to the amount of cash you have in your bank account, typically with an option for overdraft protection if you want it.

In contrast, prepaid debit cards typically only allow you to use money you’ve loaded onto the card. Although it’s possible to overdraft on a prepaid card account, most prepaid card issuers don’t allow it.

Prepaid debit cards also aren’t the same as secured credit cards, primarily because they don’t offer a line of credit that you can use and pay off over and over again. With a secured credit card, you’re required to submit a deposit to get approved, but that money is only used as collateral for your credit line, and it’s returned to you when you close the account, or possibly sooner than that.

That said, prepaid cards typically run on the same payment networks as credit cards and traditional debit cards, including Visa, Mastercard, and American Express.

Alternatives to prepaid debit cards

Although prepaid debit cards offer some benefits you may not be able to get with a credit card or traditional debit card, they’re not the right fit for everyone. Here are some potential alternatives to consider.

Second-chance bank accounts

If you’re looking at prepaid cards because you can’t get approved for a checking account, consider second-chance bank accounts. Banks and credit unions that offer these accounts understand it can be tough to get approved if you have negative marks on your ChexSystems report. This system chronicles your banking history like the credit bureaus keep track of your credit history.

A few of the best banks that offer these types of accounts include Green Dot Bank, Radius Bank, and Wells Fargo. Also, look at community banks and credit unions in your area for more options.

Chime®

Chime is a financial services app that operates primarily online, and it offers some great account options that differ from traditional bank accounts.²

A Chime® Savings account doesn’t charge a monthly fee or foreign transaction fee.³ You may be able to receive your paycheck up to two days early with direct deposit,⁴ and you’ll also have the option to save more by automatically setting aside a percentage of your paychecks into your Chime savings account.⁵ You can also round up every purchase you make on your debit card to the nearest dollar, with the difference deposited into your savings account.⁶

FAQs

Options that didn’t make our list

Choosing the right prepaid card is a big decision as there are many factors to consider. Here are a few others that didn’t make our “top list” but you may want to consider:

• FamZoo: FamZoo is a prepaid debit card and personal finance app for kids, teens, and families. It has a $5.99 monthly fee, allows reloads at most major retailers and allows direct deposit. The plan is geared toward kids and teens, while keeping families on the same page financially. Funds are FDIC insured.
• Serve American Express: American Express offers a few Serve prepaid cards including a free direct deposit, cash back, or free reload card. Each includes free direct deposit and easy cash reloads at CVS, Dollar General, and Walmart. Depending on the prepaid card, it may be FDIC insured through Pathward, N.A. or through American Express National Bank.

Bottom line

The best prepaid debit cards can provide an excellent alternative to credit cards and bank accounts. You won’t be subject to annual fees or credit card interest charges with a prepaid debit card. Although you won’t find any truly fee-free prepaid cards, there are some that charge fewer fees than others, and some also provide benefits that can make those fees worth it.

As you try to determine which prepaid card is right for you, consider our top options and also do your own research to compare and contrast. This process will help you find the right fit for you.