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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.

Sub: #1 posted on Tue, 04/05/2011 - 02:35

Anna Sweeting Anna Sweeting

(Posts: 1827 | Credits: )

There are many banks that have totally free checking accounts...wells fargo/wachovia, US bank, TCF....check around.

Sub: #2 posted on Tue, 04/05/2011 - 03:22

SOAPLADY SOAPLADY
Moderators Cum Industry Expert
(Posts: 17272 | Credits: )

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

Sub: #3 posted on Thu, 05/12/2011 - 11:11

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Quote:
You also know exactly how much you are spending. so make it a habit to use cash for most things you buy


It is better we use cards only when we need to carry a huge volume of cash. It will save us from carrying the risk of theft.

Sub: #4 posted on Tue, 05/24/2011 - 05:23

Jeorge Preston Jeorge Preston

(Posts: 180 | Credits: )

Jeorge I don't understand your response.

I don't believe Keith was advocating carrying a ton of cash with you all the time. Simply carry what you need for groceries, gas, etc.

Sub: #5 posted on Tue, 05/24/2011 - 09:34

J L B J L B

(Posts: 329 | Credits: )

Personally I never have cash. Everything goes on my debit card and daily I log into my bank to check my balance. I find it is easier to monitor my spending ...I see where everything goes. I never write checks either, so I dont have that expense

Sub: #6 posted on Tue, 05/24/2011 - 09:51

SOAPLADY SOAPLADY
Moderators Cum Industry Expert
(Posts: 17272 | Credits: )

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

Neither was I...it 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! :)

Sub: #7 posted on Thu, 05/26/2011 - 05:11

Jeorge Preston Jeorge Preston

(Posts: 180 | Credits: )

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