No foolin’: A bank card with 15 fees
Posted by Tim at 04/01/09 04:14 PM

Consumer Reports posted a great piece on prepaid debit cards similar to Capcom's card Michelle wrote about.

It sounds like an April Fools joke: A prepaid debit card meant to help teens manage their money that includes 15 potential fees. Another card claiming “no hidden fees” that charges $1 every time you use it. And another that charges $1 to talk to a customer-service rep, and 50 cents to talk to a machine!

Those are some of the surprises we found in the wild world of prepaid debit cards, or as they're known in the industry, "general purpose reloadable cards." This type of plastic, a variant of prepaid gift cards, is gaining popularity particularly among folks without bank accounts or without standard checking accounts that would entitle them to bank debit cards.

Click here to read the whole thing.