Prepaid Debit Cards Reviews
A while ago, I talked about some pitfalls of prepaid debit cards. Among them, higher fees that some prepaid cards charge customers for using their cards are the least attractive feature that a prepaid debit card could have. In recent years, debit card transactions have increased tremendously as more and more consumers switched from credit cards to debit cards after the financial crisis that started in late 2007. In addition to the fact that credit has become harder and harder to obtain since then, many people were also not happy about some practices credit card issuers use to increase their revenues, such as high interest rates, arbitrary fees, etc. On the other hand, prepaid debit cards become increasingly popular because, among many benefits, they are easy to use, safer than cash, accepted anywhere Visa or MasterCard is accepted.
If you are interested in getting a debit card, following are a quick review of some no fee prepaid cards to help you evaluate them.
The Mango Prepaid Debit Card is a debit card that you can use anywhere MasterCard is accepted.
To use the Mango Prepaid Debit Card, all you need to do is load your card with $500 or more every month, which is the minimum to avoid the monthly service charge of $5 (the fee is waived for the first month, so you can try the card and the service for free for one month). Funding of your account is easy and flexible since Mango offers multiple options for account funding. The Mango Debit Card allows you to use direct deposit and direct ACH bank transfer, both are free, to add or transfer funds onto the debit card. If you prefer, you can also use retail reload facilities to recharge your debit card (go to Mango website to find reloading facilities near you).
As you know, the biggest benefits of using a prepaid card is that it eliminates all those extra fees, such as checking account maintenance fee, overdraft fee, etc, big banks are now charging their customers. With the Mango Prepaid Card, you pay no activation charges, no overdraft fees, and no credit checks. You even don’t need to have a bank account, which is precisely the reason why prepaid cards are becoming more and more popular among consumers. Once you funded your account, you can use the card to access cash at ATMs worldwide. And the money you have in your account is fully FDIC-insured up to $250,000.
If you plan to give Mango Prepaid Debit Card a try, you can enjoy a $20 signup bonus if you use direct deposit to fund your card. You can even make money when referring friends and family members to Mango. No many debit cards offer that for sure.
In addition to as a convenient way to pay for your everyday purchases and your bills online, the Mango Prepaid Debit Card also offers a host of features that make managing your account easier, including free iPhone App and free wireless and text alert. Check out Mango Prepaid Debit Card for more details about features and benefits.