Defend Your Dollars is the website of the Consumers Union Financial Services Campaign, where we support reforms to the financial marketplace to curb bad practices by banks and lenders.
Prepaid “debit” cards are marketed as safe and convenient ways for consumers to manage their money. These cards can be used at ATMs, to make purchases at stores and online, and can be reloaded with more money—much like debit cards linked to bank accounts. Yet, they may leave you empty-handed due to fees and the lack of guaranteed consumer protections.
Have you run into fees and other problems with prepaid "debit" cards?
For more, please visit the Share your Story page.