| Most people are hesitant to bring cash with them | | | | option to borrow cash from your account using |
| when paying the bills or shopping at the mall. | | | | the ATM. However, you will incur a cash advance |
| However, applying for a credit card or checking | | | | fee especially if you use an ATM, not affiliated |
| account can sometime be difficult especially to | | | | with your Issuer. |
| people with bad credit history. The next best | | | | Reloading Fees. Reloading your prepaid card by |
| option is to obtain a re-loadable prepaid debit card. | | | | making a direct deposit can be free of charge. |
| Applying for this type of plastic card is very easy | | | | However, if you try to reload your account |
| plus the fact that it is interest-fee because it is | | | | through a third party service, you can be charged |
| prepaid. | | | | with a reloading fee. |
| However, before getting one, consumers are | | | | Additional Charges. Sometimes, there are gas |
| advised to spend time examining their choices. | | | | stations, restaurants, hotels and car rental |
| Take note that there are also fees associated | | | | companies that will impose a "hold" or extra |
| with prepaid debit cards. If you're not careful, you | | | | charge on your bill when you make your |
| could get stuck with a card that has even more | | | | payment. |
| fees than you expected. What are prepaid debit | | | | ATM Balance inquiry. Some issuers will charge a |
| card fees that you should know about? | | | | balance inquiry fee of $1 or less when you check |
| Basic Fees Associated with Prepaid Cards | | | | your balance from the ATM. |
| Activation Fee. An activation fee is required | | | | Maintenance Fees. Some Issuers will charge a |
| before you can use your debit card. However, | | | | regular fee each month, aside from the annual |
| activation fees can range from as low as $9 to | | | | cost. |
| as much as $100 so you should choose one with | | | | Inactivity Charge. You may also get penalized if |
| a reasonable cost. | | | | you do not use your debit card for more than 60 |
| Negative Balance Fees. Holders of debit cards are | | | | days. |
| not allowed to overdraw but there are times | | | | Customer service Fee. Not all debit card Issuers |
| when your bill can be a little over your available | | | | offer customer service for free. You can be |
| balance but your transaction will still be accepted. | | | | charged a certain amount each time you call your |
| In this case, you will be charged with an additional | | | | issuer for assistance. |
| cost known as the negative balance fee. | | | | Transaction Charges. You may incur a minimal fee |
| Decline Fees. Generally, overdraws are not | | | | each time you use your debit card for payment. |
| allowed so your transaction will be declined if you | | | | Account termination fee. Closing your account will |
| try to pay with your debit card without sufficient | | | | require you to pay another fee called termination |
| cash in your account. Watch out! That failed | | | | fee that is to be deducted from your available |
| transaction may still cost you a decline charge. | | | | balance as well. |
| Daily Limit Fees. There are some re-loadable | | | | Card replacement. In you lose your card you will |
| prepaid debit cards that limits the amount you can | | | | be asked a fee for a replacement. |
| charge to your card each day. If you try to | | | | Card renewal. The fact is that prepaid cards |
| make a large purchase that exceeds that daily | | | | expire after a certain period of time. Afterwards, |
| limit, you can be charged with a fee. | | | | you will be charged a fee for the renewal of your |
| Cash Advance Charges. Debit cards allow the | | | | card. |