ADVERTISEMENT

Prepaid card fee disclosure chart

By

See main story: "Most prepaid cards fail to disclose fees"

COMPARE FEE DISCLOSURES OF 10 MAJOR PREPAID DEBIT CARDS
How well do prepaid debit cards disclose their fees before you buy them? CreditCards.com checked 10 major reloadable prepaid cards to find out. We found the cards at retailers and payday loan stores around Austin, Texas, during March and April, 2016. We noted which fees were disclosed to consumers before purchase. Then we compared those disclosures to the model disclosure published by the Consumer Financial Protection Bureau. Here's how the cards stack up.
Disclosed    Not disclosed    ⚪ N/A
Type of fee
ACE Elite Card (ACE Cash Express) American Express Bluebird American Express Serve Green Dot Prepaid Visa Gold MyVanilla NetSpend Opt+ (Speedy Cash) PayPower Prepaid Visa ReadyDebit Gold Walmart MoneyCard (Green Dot)
Monthly fee*
Per purchase - signature
Per purchase - PIN 
ATM withdrawal in-network
ATM withdrawal non-network**
Cash reload**
Credit related fees***
ATM balance inquiry****
Customer service per call*****
Inactivity fee
Incidence-based fee 1******
Incidence-based fee 2
Incidence-based fee 3
* Cards may offer choice of monthly or per-transaction fee; some may have $0 monthly fee in some states but charge a fee in others.
** Varying amounts may not be disclosed if it is noted that third party fees may apply.
*** Overdraft services require separate sign-up.
**** No-cost text alternative may be provided.
***** Balance inquiries not included in customer service call fee.
****** Incidence-based fees may include additional card or lost card fee, foreign transactions, international ATM use, paper statement, balance liquidation check, declined transaction fee, stop payment fee and bill payment fee.

Source: CreditCards.com research, March-April, 2016

 

How well do prepaid debit cards disclose their fees before you buy them? CreditCards.com checked 10 major reloadable prepaid cards to find out. We found the cards at retailers and payday loan stores around Austin, Texas, during March and April, 2016. We noted which fees were disclosed to consumers before purchase. Then we compared those disclosures to the model disclosure published by the Consumer Financial Protection Bureau. Here's how the cards stack up.
COMPARE FEE DISCLOSURES:
10 MAJOR PREPAID DEBIT CARDS
Disclosed    Not disclosed    ⚪ N/A

Type of fee
1.
ACE Elite Card (ACE Cash Express)
2.
American Express Bluebird
Monthly fee*
Per purchase - signature
Per purchase - PIN 
ATM withdrawal in-network
ATM withdrawal non-network**
Cash reload**
Credit related fees***
ATM balance inquiry****
Customer service per call*****
Inactivity fee
incidence-based fee 1******
incidence-based fee 2
incidence-based fee 3

 

Disclosed    Not disclosed    ⚪ N/A

Type of fee
3.
American Express Serve
4.
Green Dot Prepaid Visa Gold
Monthly fee*
Per purchase - signature
Per purchase - PIN 
ATM withdrawal in-network
ATM withdrawal non-network**
Cash reload**
Credit related fees***
ATM balance inquiry****
Customer service per call*****
Inactivity fee
incidence-based fee 1******
incidence-based fee 2
incidence-based fee 3

 

Disclosed    Not disclosed    ⚪ N/A

Type of fee
5.
MyVanilla
6.
NetSpend
Monthly fee*
Per purchase - signature
Per purchase - PIN 
ATM withdrawal in-network
ATM withdrawal non-network**
Cash reload**
Credit related fees***
ATM balance inquiry****
Customer service per call*****
Inactivity fee
incidence-based fee 1******
incidence-based fee 2
incidence-based fee 3

 

Disclosed    Not Disclosed    ⚪ N/A

Type of fee
7.
Opt+ (Speedy Cash)
8.
PayPower Prepaid Visa
Monthly fee*
Per purchase - signature
Per purchase - PIN 
ATM withdrawal in-network
ATM withdrawal non-network**
Cash reload**
Credit related fees***
ATM balance inquiry****
Customer service per call*****
Inactivity fee
incidence-based fee 1******
incidence-based fee 2
incidence-based fee 3

 

Disclosed    Not disclosed    ⚪ N/A

Type of fee
9.
ReadyDebit Gold
10.
Walmart MoneyCard (Green Dot)
Monthly fee*
Per purchase - signature
Per purchase - PIN 
ATM withdrawal in-network
ATM withdrawal non-network**
Cash reload**
Credit related fees***
ATM balance inquiry****
Customer service per call*****
Inactivity fee
incidence-based fee 1******
incidence-based fee 2
incidence-based fee 3
* Cards may offer choice of monthly or per-transaction fee; some may have $0 monthly fee in some states but charge a fee in others.
** Varying amounts may not be disclosed if it is noted that third party fees may apply.
*** Overdraft services requires separate sign-up.
**** No-cost text alternative may be provided.
***** Balance inquires not included in customer service call fee.
****** Incidence-based fees may include additional card or lost card fee, foreign transactions, international ATM use, paper statement, balance liquidation check, declined transaction fee, stop payment fee and bill payment fee.

Source: CreditCards.com research

Published: May 25, 2016

ADVERTISEMENT
ADVERTISEMENT

Join the discussion
We encourage an active and insightful conversation among our users. Please help us keep our community civil and respectful. For your safety, do not disclose confidential or personal information such as bank account numbers or social security numbers. Anything you post may be disclosed, published, transmitted or reused.

If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.

The editorial content on CreditCards.com is not sponsored by any bank or credit card issuer. The journalists in the editorial department are separate from the company's business operations. The comments posted below are not provided, reviewed or approved by any company mentioned in our editorial content. Additionally, any companies mentioned in the content do not assume responsibility to ensure that all posts and/or questions are answered.




Follow Us


Updated: 01-22-2017

ADVERTISEMENT


Weekly newsletter
Get the latest news, advice, articles and tips delivered to your inbox. It's FREE.


ADVERTISEMENT