Tired of fumbling with change in the checkout line? Embarrassed by your reliance on old-fashioned checks when it seems like the rest of the world is firmly in the 21st century? If you’re ready to make the switch from paper to plastic, here are five things to consider when looking for a good prepaid card.
Loading Funds
First things first: How will you get money on your card? Do they offer a variety of transfer options, or will you be forced to jump through hoops and pay fines and fees for every $20? Can you directly deposit the funds from work? How long until your money is available for spending?
Price
Many prepaid cards come with a monthly maintenance charge. Others may require you to have a certain minimum balance or use the card so many times a month in order to avoid penalties. Before you sign on the dotted line, know how much it’s going to cost you.
ATMs
What ATMs will accept your card without extra charges? How far does their network extend? Is the card company affiliated with a local bank, or are they an independent financial institution where all ATM transactions will cost you?
Features
Every card comes with its own perks. For example, when you sign up for a prepaid debit or credit card at Kaiku.com or other similar sites, you’ll enjoy everything from online bill pay to mobile money deposits. Some features can be more attractive and time-saving than the actual service package!
Financial Records
Be a responsible card owner. Make sure you have plenty of ways to keep track of your spending. Look for a company that offers 24/7 access to your account through a hotline or virtual portal, and never accept a card that doesn’t log your purchases for later review.
These are just five tips for making your life a little easier with prepaid cards. They aren’t something to choose lightly, so don’t be afraid to take your time and explore all your options until you find something that’s right for you. In the current economy, the last thing anyone needs is more debt!