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…
Have you used a prepaid card? Tell us about your experience.
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.