5 Tips To Choosing the Best Prepaid Debit Card

With the advent of technology, cash transactions have been made a whole lot easier. Debit cards for that matter have made the handling of cash convenient, thus reducing the number of barriers to spending money. If you have never gotten to use a prepaid debit card before and are planning on getting yourself one, here are a number of tips you can consider to help choose the best one.

  1. Go For Well Known Prepaid Card Brands

In recent years, many prepaid debit cards have come into existence with some from unfamiliar brands. Money is a very sensitive issue, it becomes essential to be very careful with the financial companies you are dealing with. The best prepaid debits cards are those that are being offered by reputable and recognized brands around the world.

Before selecting on your preferred card, do a background check to ensure the provider is legit. You do not want to be in a situation whereby your transactions are not legitimately recognized. The best prepaid debit cards are from MasterCard and Visa companies which are well recognized.

  1. Check the Terms and Conditions

This is a very important part of any prepaid card you decide to choose and which many people sadly get to ignore. Be very keen on this. Read through the terms and conditions carefully before agreeing to anything. Providers of these cards usually have different terms and conditions.

A good prepaid debit card should have favorable terms and conditions that you are comfortable with. Ask your provider to explain to you before agreeing to them. You do not want to be fined for inappropriate use of your card.

  1. Assess the Fees Chargeable

Debit card providers vary and each charge different kinds of fees for their prepaid debit cards. Purchase fees, monthly fees, transaction fees, withdrawal fees, balance inquiry fees, dormancy fees, and overdraft fees are just some of the many fees charged by providers.

Ensure that you check on this before choosing your preferred debit card. A good prepaid debit card should have very minimal chargeable fees. Some of the fees are straightforward, but you need to pay great attention to the more obscure ones. You do not want to be charged lots of money every now and again even when you are not using your card.

  1. Opt for Direct Tax Refund Packages

You probably have paid your taxes and you are due for a tax refund from the Tax agency. Instead of getting the refund via check, you can have it deposited directly to your prepaid debit card. This will be convenient for you and the tax agency, as it will reduce the paperwork and also cut on cost. So, when choosing your prepaid debit card, you can check for this tax refund package. In fact, a good prepaid debit card should be able to give you a bonus package for every tax refund transaction done to your card.

  1. Type of Use

There are a number of ways you can get to use your prepaid debit cards. Start by determining which one will suit your needs. Is it for shopping and utility bills? Is it for your entertainment? Or will it be for your kid’s pocket money? Prepaid debit cards can be a reasonable way to control your spending and manage your debt. Once you have determined the use, then you can scour around for different providers and see who offers you the best package for your preferred use.