A customer can load these general cards with his funds, and they can be used for all their purchasing needs and paying bills. Prepaid cards are more or less similar to traditional debit cards a person can use it anywhere based on his requirements. It works on the simple principle of “you load it you spend it” funds can be deposited or transferred through direct deposit, bank transfers or by visiting the nearest retailer, these depend on the services rendered by the issuer of these cards. This gives the user the peace of mind during shopping as carrying the huge sum of cash could sometimes be a risk and threat.

Things to know about reloadable prepaid cards with no fees
These vary from gift cards hence it should be used with utmost care during shopping. This might share all your financial detail with a bank and is usually designed for a long run. If it’s linked to your bank account,  your account number will be linked to the card else you need to provide valid documents to get one. Some of the service providers might charge you for the services rendered by them. But issuers like American Express and Green Dot do not charge customers any reloading fees if the transfers or reloading is done from the user’s bank account.

Cons of reloadable prepaid cards with no fees
One of the major disadvantages of these cards is that there are not set rules structured for these reloadable prepaid cards. A regulatory structure is lacking these are subjected to terms and conditions framed by the issuer. Most of these issuers have online or automated customer service centers. Hence, it’s always advisable to inquire whom should you contact in case you face a problem with the transactions or usage of the card and how to register complaints. Because cards issued by banks differ from nonbank issuers so you should first study their term and conditions and how they provide services, else you might encounter a lot of variations as days go by. Some of these cards do not provide theft or lost reimbursements.

Perks of owing reloadable prepaid cards
Some card issuers like American express offer various benefits to their cardholders like purchase protection for the products bought, global assistance for travelers and also roadside assistance. Some of these cards are specially designed for traveler’s safety overseas in foreign lands with chip and pin protection. It is helpful in emergency situations. It’s always wiser to ensure the purpose and its benefits before buying one. Carry money with a safe tool; this helps you to manage your finances more wisely. It is available for all, and it’s easy for a person without a bank account also to get this reloadable prepaid cards with no fees.

How to get a reloadable prepaid card with no fees?

Checks out for the various service providers online have a detailed study of the services rendered by the issuer. List out what best suits your needs, purchase and register your card. Follow the instructions and provide the necessary information required by the issuer such as your name, address, social security number or bank account number. Once the verification is done, you will receive the mail. Add funds as and when required through direct deposits, bank transfers or visiting the nearest convenient service provider to reload. Use your card shopping, paying bills, online purchase payments, etc.

Cards with no fee
Most of the reloadable prepaid card issuers charge some transaction fee, service fee based on their services annually or monthly depending on their charge structure. There are few issuers who provide reloadable prepaid cards with no fee and the following benefits to users. A lot of these cards gives users waive off when the paychecks are directed to these reloadable prepaid cards. They do not check your credit scores in order to issue a no-fee prepaid card, the risk of overdrawing or bounced check does not come into play. There is no chance for over limit or exceeding the amount line as you spend for what you’ve added, and there’s no interest paid for usage. American Express and Green Dot issue no fee reloadable prepaid cards scheme if you have a bank account else they charge you very less compared with many other issuers.

Generally, people end up in a lot of misperceptions when we talk about reloadable prepaid cards as there is no much awareness among individuals about the advantages and disadvantages of these cards. They fear the risk of loss and end up not investing; they prefer carrying cash and making payments as they feel these cards might carry hidden charges. When used wisely you will end up saving hundreds of dollars, all you have to do is get the right card that best suits your requirements. This could be a very good option if your creditworthiness is low and you cannot hold bank accounts. Buy a card with no service cost or limited fee card for maximum benefits and savings.