Prepaid Debit Cards

Prepaid debit cards have become a popular alternative to traditional debit cards and checking accounts. Almost anyone can qualify for these cards, and they can be used just like credit cards, without the need for good credit.

These cards are very common with people that do not have a relationship with a traditional bank, either by choice or because of previous banking history. These consumers can still have a product that will fill their needs. Since most consumers depend on debit cards anyways, and don't rely on checks, this is a very easy transition for most people.

Just like checking accounts, many prepaid debit cards come with monthly fees, unless the consumer meets certain requirements like minimum balances or direct deposit. For some people, these cards can be cheaper than a traditional bank while still offering the same basic features of being able to make purchases simple.