Prepaid cards are reloadable cards that can be used to make purchases just like debit cards linked to personal bank accounts. These cards are becoming increasingly popular with consumers. However, prepaid cards can come with multiple fees that can add up quickly and aren’t always disclosed up front to consumers. Prepaid cards don’t provide the same mandatory consumer protections that apply to traditional debit cards when there’s a billing mistake or fraudulent transaction.
Have you used a prepaid card? If so, what prompted you to purchase one? Were you surprised by all of the fees you were charged? Did the card offer you a line of credit? Did you encounter any problems with billing mistakes or fraudulent transactions?
We want to hear from you. We think that these cards need more consumer protections and your story can help us in our fight.
Here are the most recently published stories from consumers like you.
When will it stop? I bank at Bank of America and use my debit card for the majority of my purchases either in person or via the internet. The majority of internet businesses require the use of a credit card or a debit card and not a check. DUH! You should…
At Chase if you use a debit card from an ATM other than Chase’s you pay a fee at the ATM, you pay a non-Chase fee, AND they add a $12 fee for any month in which you used a non-chase ATM.That is $2 to 5 + $2 + $12.YIKES!!!
The banks charging a fee for an individual to use their own money is just another reason why the middle class is protesting all over the country – not just in New York City. The rich continue to want to get richer and are doing away with the middle class.As of…
I do not use my Bank of America credit card as a debit card and I pay my full balance each month to avoid interest rates that I believe are outrageous. I am so outraged by the banks holding on to their money rather than investing in enterprises in America to…
I have a Wal-Mart Money card (financed through GE), which is a pre-paid card where my paycheck is direct-deposited. They recently began charging a monthly $5 fee if you have less than $1,000.00 direct-deposited each month. Fortunately for me, I make enough that I don’t have to worry about it. But…
I am not a Bank America customer, but I think it is unfair because this fee policy will hurt people who are already struggling financially. If Bank America pulls it off, all the other greedy financial institutions will follow suit. I bank at PNC Bank (formerly National City Bank). I am not…
We support reforms to the financial marketplace to curb bad practices by banks and lenders.
