A prepaid debit card, funded by you with your own money before you use it, can be helpful for managing your spending (because you can only spend up to the amount on the card) or as a more accessible alternative to credit cards (especially if you have a low credit score or no credit, because there are no credit checks involved). If you’re looking for a way to manage your spending while carrying a card from a major issuer, consider one on our list of prepaid debit cards.
Best for no monthly fee: Bluebird® American Express® Prepaid Debit Account
The Bluebird® American Express® Prepaid Debit Account has no monthly fee and, because it’s an American Express® debit card, comes with many of the benefits and features you might see with their credit cards. Bluebird® is one of few free prepaid debit cards. It also provides several options for adding funds, withdrawing or making other purchases.
Features
- Set up accounts for others within the prepaid card: You can create up to four subaccounts per Bluebird® account. These accounts allow you to give a person age 13 or older their own card for access to a set amount of money. You can set limits and control how much the other user spends.
- Early direct deposit: You may be able to receive your direct deposits up to two days early.
- American Express® benefits: Includes the perks you might find on other American Express® cards, such as purchase protection, roadside assistance and fraud protection.
Fees
- Card price: $5 (or $0 if you sign up online)
- Monthly fee: $0
- Cash reloads at Walmart: $0
- Cash reloads at other participating retailers: Up to $3.95
- ATM withdrawals (in-network): $0
- ATM withdrawals (out-of-network): $2.50
How to reload
You can add cash to your card at a Walmart MoneyCenter or Walmart register. If you cash a check at Walmart, you can ask them to add cash to your card. You can also add cash at thousands of other retailers such as Walgreens, Dollar General and participating 7-Eleven stores. Other options for adding money to your card include direct deposit, from a checking or savings account, from another debit card or by requesting money from another Bluebird account holder.
ATM availability
Network includes more than 30,000 MoneyPass® ATMs.
The information related to the Bluebird® American Express® Prepaid Debit Account has been independently collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply to American Express® credit card offers. See americanexpress.com for more information.
Best for earning cash back: Serve® American Express® Prepaid Debit Account – Serve Cash Back
The Serve® American Express® Prepaid Debit Account awards 1% cash back for each dollar spent with the card. Although this is a fairly low rate of cash back, there aren’t many prepaid debit cards that offer cashback rewards at all. The funds are added to your account right away, so you don’t have to wait until the end of a statement period to gain access to your extra cash.
Features
- Mobile app: Use the Serve® Android or iOS apps to manage your account, make payments and deposit money.
- Cash rewards: Earn 1% cash back on each dollar you spend using the card.
- Early direct deposit: Funds that are direct deposited may be available up to two days early.
Fees
- Card price: Up to $3.95 (or $0 if signing up online)
- Monthly fee: $6.95 (waived with at least $500 in monthly direct deposits; no fee if you live in New York, Texas or Vermont; no fee in Arkansas until you register your card)
- Cash reloads: Up to $3.95 depending on where you reload
- ATM withdrawals (in network): $0
- ATM withdrawals (out-of-network): Up to $2.50
How to reload
Load funds to your card at thousands of retailers such as CVS and Walmart, through an external checking account or savings account, direct deposit, with a debit card or with an American Express® credit card. You can also request funds from another Serve® account holder.
ATM availability
Withdraw cash without fees at more than 30,000 MoneyPass ATMs.
The information related to the Serve® American Express® Prepaid Debit Account has been independently collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply to American Express® credit card offers. See americanexpress.com for more information.
Best for spending and sharing money as a family: FamZoo Prepaid Card
The FamZoo Prepaid Card, one of the best prepaid debit cards for kids, lets you set up different accounts for your kids to teach them about spending, saving and giving. You can also set up savings goals and request payments as well as transferring funds for specific purchases. The FamZoo Prepaid Card is a Mastercard debit card.
Features
- Mobile app: Use the FamZoo mobile app to manage your accounts and monitor the kids’ accounts. Also transfer and request money through the app, which is available for an iPhone, iPod Touch, Android phone or through the browser on other mobile phones.
- Savings goals: Set and monitor savings goals with the family.
- Parent-paid interest: One feature is the option for parents to pay their kids interest on their accounts through parent-paid interest.
- Spend, save and give accounts: Create separate accounts for spending, saving and giving.
Fees
- Card price: $0 for up to four (then $3 per card)
- Monthly fee: $5.99 or $25.99/6 months; $39.99/12 months; $59.99/24 months
- Cash reloads: $4.95 (first month free trial)
- ATM withdrawals (in network): $0
- ATM withdrawals (out-of-network): $0
How to reload
Load funds at retailers such as Walmart, CVS and Walgreens. You can also add money to your card with MasterCard rePower, GreenDot Reload, Green Dot MoneyPak, through direct deposit and with digital wallets like Apple Pay and Venmo.
ATM availability
FamZoo does not charge a fee to withdraw from any ATM, but the operator might charge a fee. You can also check your card balance at ATMs.
The information related to the FamZoo Prepaid Card has been independently collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.
Best for teaching kids about money: Greenlight Prepaid Mastercard
The Greenlight Prepaid Mastercard allows you to share your account with family members or up to five kids. It includes parental controls to help manage money as well as financial tools for teaching children about budgeting and saving. Greenlight offers three prepaid card options — Greenlight, Greenlight Invest and Greenlight Max — which offer different features for different monthly fees.
Features
- Mobile app: The Greenlight mobile app is available on iOS and Android, and includes features for transferring funds, depositing and managing your family’s account.
- Savings reward: Greenlight pays up to 2% on savings to teach children about compound growth.
- Parental controls: Use parental controls to set spending limits and spending categories. Parents can transfer money instantly to children, turn off the card via the app, receive alerts when the card is used and more.
- Financial tools: These tools help teach kids financial responsibility.
Fees
- Card price: $0
- Monthly fee: $4.99 for Greenlight, $7.98 for Greenlight + Invest, $9.98 for Greenlight Max
- Cash reloads: $0
- ATM withdrawals (in network): $0
- ATM withdrawals (out-of-network): $0
How to reload
Parents can add two bank accounts and two debit cards to the account to add funds. You can also set up direct deposit.
ATM availability
Greenlight does not charge any in-network or out-of-network fees for ATM withdrawals, but the ATM operator may charge a fee.
The information related to the Greenlight Prepaid Mastercard has been independently collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.
Best for Walmart shoppers: Walmart MoneyCard
Although there are other prepaid cards that you can load and use at Walmart stores, none offer the Walmart-specific perks that the Walmart MoneyCard includes, like 3% cash back at Walmart.com, 2% cash back at Walmart gas stations and 1% cash back at Walmart stores, up to $75 each year. Some of the other perks include a
savings account with a 2.00% APY on balances up to $1,000 and the opportunity to receive direct deposit two days early. The Walmart prepaid debit card is a Mastercard.
Features
- Early direct deposit: Allows you to get paid up to two days earlier and receive your benefits up to four days before benefits day.
- Overdraft protection: Three coverage levels of up to $200 in overdraft protection. If you pay your balance within 24 hours, you can avoid the $15 overdraft fee.
- 2.00% APY on savings: Earn 2.00% APY on savings up to $1,000.
- Family accounts: Add up to four members who are at least 13 years of age to the account.
Fees
- Card price: $1
- Monthly fee: $5.94 (or $0 with a direct deposit of payroll or government benefits totaling $500 or more)
- Cash reloads: $3 with card at Walmart registers; $0 using the app at Walmart; other locations up to $5.95
- ATM withdrawals (in network): $2.50
- ATM withdrawals (out-of-network): Up to $2.50
How to reload
You can add funds through the Walmart MoneyCard app when you create a secure deposit code that you show the cashier at participating retailers, or by depositing a cash or check at a Walmart store. You can also add funds at a Walmart register with Walmart Rapid Reload or with MoneyPak.
ATM availability
You can use your card to withdraw cash from any ATM, but Walmart does charge a $2.50 fee in addition to any fees the ATM operator might charge.
The information related to the Walmart MoneyCard has been independently collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.
Summary of the best prepaid debit cards in 2022
Methodology: How we chose the best prepaid debit cards
To find the best prepaid debit cards, MagnifyMoney looked at different prepaid cards offered nationwide. We update our list regularly to ensure we’re providing readers with the most up-to-date information.
We determined our list and rankings by considering the following factors:
- Features and benefits: The features and benefits offered by the prepaid debit card are the most heavily weighted in determining which cards are the best. We also chose cards if they include notable features and extras.
- Fees: Prepaid debit cards with fewer and lower fees were selected over similar cards with fees.
- Using the card: We chose cards according to how easily you can reload or deposit funds to your card and how easily you can withdraw or use your funds. We also chose cards according to how easily and quickly you can get assistance from customer service as well as whether you can manage your account with a mobile app or online.
Frequently asked questions
You can typically transfer money from a debit card to a prepaid card via the debit card’s connected bank account. Once the accounts are linked, you may see an option in your bank account to
transfer funds where you would select the prepaid card that is linked. You may need the routing and account numbers associated with your prepaid card to transfer funds from the bank.
It depends on the type of card you want. Most are available at stores such as CVS, Walmart and Walgreens. Once you purchase the card, you can usually load it at the same store. However, this means buying the card, which can cost as much as $5. Many prepaid cards are free if you sign up online instead.
Prepaid debit cards work like
traditional debit cards, but when you use a prepaid card, the funds aren’t pulled from a bank account. Instead, payments are made from funds you’ve loaded directly onto the card.
Generally, you can use prepaid debit cards online if they’re issued by major card companies, like a Visa prepaid debit card. In fact, you may be able to use your prepaid debit card online and in stores anywhere that accepts those types of cards, even though it’s prepaid and not credit.
The Bluebird® American Express® Prepaid Debit Account has no monthly fee and, because it’s an American Express® debit card, comes with many of the benefits and features you might see with their credit cards. Bluebird® is one of few free prepaid debit cards. It also provides several options for adding funds, withdrawing or making other purchases.
The Serve® American Express® Prepaid Debit Account awards 1% cash back for each dollar spent with the card. Although this is a fairly low rate of cash back, there aren’t many prepaid debit cards that offer cashback rewards at all. The funds are added to your account right away, so you don’t have to wait until the end of a statement period to gain access to your extra cash.
The FamZoo Prepaid Card, one of the best prepaid debit cards for kids, lets you set up different accounts for your kids to teach them about spending, saving and giving. You can also set up savings goals and request payments as well as transferring funds for specific purchases. The FamZoo Prepaid Card is a Mastercard debit card.
The Greenlight Prepaid Mastercard allows you to share your account with family members or up to five kids. It includes parental controls to help manage money as well as financial tools for teaching children about budgeting and saving. Greenlight offers three prepaid card options — Greenlight, Greenlight Invest and Greenlight Max — which offer different features for different monthly fees.
Although there are other prepaid cards that you can load and use at Walmart stores, none offer the Walmart-specific perks that the Walmart MoneyCard includes, like 3% cash back at Walmart.com, 2% cash back at Walmart gas stations and 1% cash back at Walmart stores, up to $75 each year. Some of the other perks include a savings account with a 2.00% APY on balances up to $1,000 and the opportunity to receive direct deposit two days early. The Walmart prepaid debit card is a Mastercard.
Christina Majaski
