The 7 Best Prepaid Debit Cards of 2020

Avoid overdrafts and enjoy low fees with these picks

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Prepaid debit cards are a great alternative to traditional bank accounts. Many offer the same features as a checking account—online bill pay, mobile check deposit, and direct deposit—without the overdraft fees. All the prepaid debit cards on our list come with great features and perks; some even allow you to create sub-accounts with their own prepaid cards. Our list includes:

Best for Cash Reloads: American Express Serve FREE Reloads

American Express Serve
Courtesy of American Express

What we like: Our list includes two versions of the American Express Serve. This one charges no reload fees, which is a perk if you need to do multiple cash reloads in a single month. The reload network has over 45,000 locations and includes CVS Pharmacy, Dollar General, Family Dollar, Rite Aid, Walmart, 7-Eleven, and others. There’s also no fee to add money from a bank account.

You’ll have access to free online bill pay, fraud protection, and free early direct deposit. The card itself is free if you order online or $3.95 when purchased from a retail location. Card replacement, sub-accounts, ​and customer service are all free. ATM withdrawals are free if you use a MoneyPass ATM. Otherwise, you’ll pay $2.50 ATM fee.​​​​

What we don't like: There’s a $6.95 monthly fee that can’t be waived.

  • Card Purchase Fee: Free online; $3.95 retail
  • Monthly Fee: $6.95 
  • Reload Fee: None
  • ATM Fee: Free at a MoneyPass ATM; $2.50 elsewhere

Best for Cash Rewards: American Express Serve Cash Back

American Express Serve Cash Back
Courtesy of American Express

What we like: If you plan to spend more than $800 each month on your prepaid card, the American Express Serve Cash Back should be in your wallet. You’ll earn unlimited 1% cash back rewards each time you shop with your prepaid card. Your cash rewards are added to your card right after you earn them, and you can redeem rewards at any time.

Enjoy early direct deposits for no additional fee, free in-network ATM withdrawals, fraud protection, and 90-day purchase protection on purchases up to $1,000. The cash reload fee varies by retailer and is up to $3.95.

What we don't like: The card comes with a $7.95 monthly fee. You'll have to spend more than $795 each month to break even on the fee and get value from your rewards.

  • Card Purchase Fee: $3.95 in retail locations
  • Monthly Fee: $7.95 
  • Reload Fee: $3.95 for cash reloads
  • ATM Fee: $2.50 if you use a non-MoneyPass ATM

Best for Direct Deposits: Netspend Prepaid

Netspend® Prepaid Image

What we like: The Netspend Prepaid card allows you to get paid up to two days faster with direct deposit. You can load money onto your account using mobile check deposit, reload at over 130,000 locations, or receive money from friends and family who have Netspend cards.

Download the free Mobile App to easily manage your Netspend account, earn cash back from eligible purchases, and get a bonus added to your balance when a friend signs up.

You can choose between two plans that have varying fee structures depending on your deposit habits. Pay-As-You-Go is the default plan, which charges no monthly fee, but $1.50 for each signature or PIN transaction. The Premier Fee Advantage Plan is the best value if you have a direct deposit of $500 or more. You’ll pay $5 per month and transactions are included in the plan.

What we don't like: Fees can add up quickly. There's no way to avoid some kind of fee—you'll either pay the monthly fee or transaction fees. And keeping your card active is key to avoiding the inactivity fee of $5.95, which applies if the card isn’t used for 90 days.

  • Card Purchase Fee: Up to $9.95
  • Monthly Fee: $0 for PAY-Go or $9.95
  • Reload Fee: Up to $3.95 for cash reloads
  • ATM Withdrawal Fee: $2.50

Best for No Fees: Starbucks Rewards Visa Prepaid Card

Starbucks Rewards Visa Prepaid Card
Courtesy of Chase

What we like: The Starbucks Rewards Visa Prepaid card Can be used everywhere Visa is accepted to earn Starbucks Rewards. Earn 1 Star for every $10 you spend on the card everywhere you shop. You can redeem as few as 25 Stars (which you earn after $250 in spending on your card) for beverage modifiers. Your Stars won't expire as long as your account is open.

The card doesn't charge any monthly, annual, or reload fees. You can keep up with your balance on the Chase Mobile App.

What we don't like: You can't use this card to make ATM withdrawals. You must load a minimum of $25 from a Chase checking or savings account or a debit card from any financial institution.

  • Card Purchase Fee: None
  • Monthly Fee: None
  • Reload Fee: None
  • ATM Fee: N/A

Best for Budgeting: Akimbo Prepaid MasterCard

Akimbo Prepaid MasterCard
Courtesy of Akimbo

What we like: Akimbo lets you create a separate prepaid card for each of your budget goals, and you can manage each card from within the Akimbo app. The first sub-account can be added at no cost and each one after that is $4.95 (one-time only). You can schedule weekly autoloads for recurring expenses. You can also disable and enable cards at any time from within the app, as well as receive text updates after each transaction.

There is no enrollment or monthly fee. Moreover, there's no transaction fee for signature purchases, but you’ll pay $.99 for each PIN purchase transaction. ATM cash withdrawals are charged $1.98 for each transaction and ATM balance inquiries are charged $.33 each. 

What we don't like: If your account is dormant for 12 months, you’ll pay a $5.95 dormancy fee beginning in the 13th month.

  • Card Purchase Fee: First 2 cards are free; $4.95 for each card thereafter
  • Monthly Fee: None
  • Reload Fee: None (Reload providers may charge fees, however)
  • ATM Fee: $1.98

Best for Walmart Shoppers: Walmart MoneyCard Visa With Cashback Rewards

Walmart MoneyCard Visa With Cashback Rewards
Courtesy of Walmart

What we like: With the Walmart MoneyCard Visa Card, Walmart shoppers can enjoy 3% cash back on purchases at Walmart.com and 1% cash back at Walmart stores, plus 2% cash back on purchases at Murphy USA and Walmart fuel stations. Cash back is capped at $75 in rewards per year.

The card comes with free direct deposit, mobile check deposit, as well as online bill pay. Reload fees are up to $5.95 depending on the reload method and location. ATM withdrawals are charged $2.50 per transaction and ATM balance inquiries are $0.50 per transaction.

What we don't like: You need to load at least $1,000 in a month to have the $5 monthly fee waived in the next month. Reload fees can also get expensive depending on when and where you add funds to your card.

  • Card Purchase Fee: $1.00
  • Monthly Fee: $5 waived if you load $1,000 in the previous month
  • Reload Fee: Up to $5.95
  • ATM Fee: $2.50

Best for Kids: FamZoo Prepaid Debit Card

FamZoo Prepaid Debit Card
Courtesy of FamZoo

What we like: Teaching kids to manage money can be tough in the age of debit and credit cards. 

With the FamZoo prepaid card, you can create parent and child roles with cards that limit access and functionality. You can transfer money between cards and create automatic recurring transfers from one card to another, say for a weekly or monthly allowance. There’s a feature to tie chores and jobs to rewards or penalties and parents can lock and unlock cards for fraud protection or to control card access.

A paid FamZoo subscription allows you to order and use up to four FamZoo prepaid cards as long as your subscription is active. You can order additional cards for a one-time fee of $2 each.

There are no reload fees for direct deposit. FamZoo doesn’t charge reload fees for cash reloads, but some providers may charge a fee. Transfers between cards are free and instant. Pay no fees on purchases or with in-network ATM withdrawals. 

What we don't like: You must have a paid FamZoo subscription, which is $5.99 per month (although it's less if you pay your subscription in advance).

  • Card Purchase Fee: The first 4 cards are free; $2 for each card beyond the 4th
  • Monthly Fee: $5.99
  • Reload Fee: Up to $6 depending on the reload method
  • ATM Fee: Free for in-network. Varies when out-of-network

How Does a Prepaid Debit Card Work?

A prepaid debit card is a card that already has funds on it, so the credit limit is the amount of money left on the card. You don’t have to get approved for a certain limit like you would with a credit card. Instead, you load the amount that you want to be on the card, and that becomes your limit. You can use a prepaid debit card online and at most retailers that accept a regular debit card. However, you usually can’t rent a car with a prepaid debit card. When you use the card to purchase something, the purchase is immediately deducted from the balance.

How Much Does a Prepaid Debit Card Cost?

Prepaid debit cards vary in costs. Some are free, some charge upfront fees, and others charge monthly fees. You can typically expect to pay from $1 to $9.95 for the upfront card purchase fee. Monthly fees typically go up to $9.95. Keep in mind, there may be additional fees whenever you want to “reload” the card by putting more money on it. If you use the card at an out-of-network ATM, there are fees associated with that, too.

Is a Prepaid Debit Card Worth the Cost?

It is generally cheaper to get a debit card through your bank rather than getting a prepaid debit card. A prepaid debit card works best for a teenager or employee who you want to ensure stays within the card’s limit. If one of those situations applies to you, it may be worth the fees. Additionally, if your credit isn’t the best, or if you can’t open a bank account for whatever reason, then a prepaid debit card is worth the cost. Just know all of the associated costs before you get a prepaid debit card so you aren’t surprised by monthly fees, reload fees, or any other costs along those lines.

How We Chose the Best Prepaid Debit Cards

There are tons of prepaid debit cards available, and we only wanted to recommend the best ones. We researched and reviewed many cards before narrowing them down to the top 7. We chose these best prepaid debit cards based on factors like their fees, features, perks, and how easy they are to use.