![]() Most prepaid cards offer some of the features you’d get with a checking account - you can pay bills, receive direct deposits, transfer money, withdraw funds at ATMs and deposit cash. “Prepaid debit cards are a safe and convenient way to access cash at ATM and transact on everyday items such as groceries, gas, transportation and bill payments for utilities, internet and mobile phones,” Jones said. However, unlike credit cards where you’ll accrue interest charges if you carry a balance, prepaid debit cards can prevent you from overspending, Jones said. You can add funds to a card online or at many retail locations like grocery stores and gas stations - though you’ll likely pay a fee. These cards are straightforward, and there’s no risk of going into debt: Funds you add are available right away, and the card will be declined if you try to spend more than you have. Prepaid cards aren’t linked to a checking account or credit line, so no credit check is required. Prepaid debit cards are often associated with major credit card networks, such as Visa, Mastercard or American Express, and can be used anywhere standard credit cards are accepted. What is a prepaid debit card and how does it work? ![]() You can’t redeem the rewards as actual cash during ATM withdrawals, but you can apply your cash-back balance to your next in-store or online purchase. Serve rewards you with 1% back on all your purchases, which hit your account as soon as the transaction settles. Not to be confused with the free reload card, the Serve American Express Prepaid Debit Account helps you earn cash back for purchases you would be making anyway - a true rarity for a prepaid card. Reload locations: Over 45,000 across the US Reward rates: 1% back on all online and store purchases Other fees: Card purchase is $1.50 at retail stores or free if ordered online ATM fee: Free at MoneyPass ATMs or $2.50 elsewhere
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