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debit cards or checking accounts?

Submitted by on Tue, 04/05/2011 - 00:51
Posts: 202330

Can anyone tell me which costs more - prepaid debit cards or checking accounts?

Prepaid debit cards are more costly than checking accounts. In a recent study, it has been found that a prepaid debit card will cost you $19 per month approximately while the average checking account will only cost around $6. Moreover, it has also been noted that some prepaid card issuers don't disclose the usage fees that they charge the consumers.

Submitted by Anna Sweeting on Tue, 04/05/2011 - 02:35

Anna Sweeting

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yes there are many banks that offer free checking. Just check them out. I caution you also from using credit or debit cards too. Although convenient, debit cards act like credit cards and you may have a tendency to overspend. It is harder to let go of cash as you can visually see it leaving your hand. You also know exactly how much you are spending. so make it a habit to use cash for most things you buy

Submitted by on Thu, 05/12/2011 - 11:11

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I don't believe Keith was advocating carrying a ton of cash with you all the time.

Neither was was just an idea! IMO, we actually need cards when we're to carry cash in larger volumes, than for the small amounts we carry for groceries, gas etc.

Of course, we do have the more balanced segment of our population, who know how to manage cards. But at the same time, a lot of us are spending more out of our cards as the amount we're spending isn't visible. My comment was aimed at them only! :)

Submitted by Jeorge Preston on Thu, 05/26/2011 - 05:11

Jeorge Preston

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