Prepaid cards are payment mechanisms that operate similarly to debit cards. The cards, however, do not link to any bank or credit union account, despite the fact that you can link them at any time. The cards are among of the most essential payment methods that individuals use in their daily lives. As we'll see, you can utilize your card in a variety of ways. We'll look into prepaid debit cards with mobile check deposit later as we proceed.
You no longer need to carry big sums of money in your briefcase because you are aware of the dangers. On your trip to the shopping center, you can lose the money to robbers. People used to store money under their mattresses and in boxes within their homes in the past. This posed a significant risk, as fire and other natural disasters such as floods can damage money and other valuables.
Prepaid cards are made of plastic or metal, as you may know. Remember that the cards work in the same way that debit cards do. The appearance is also similar, and you might not be able to tell them apart. We also have virtual prepaid cards, in which you have the card information but not the physical metal or plastic. You can only shop online with virtual cards.
Check Out: The 10 Best Prepaid Credit Cards in Canada
Best Prepaid Debit Cards With Mobile Check Deposits
The following are the ten best-prepaid cards that allow you to receive finances via direct deposit. Have a look.
1. American Express Serve
Direct deposit fees of up to 5% are charged, with a $5 minimum charge. The daily transaction limit is $5,000 per day, while the monthly transaction maximum is $10,000. The card is issued by American Express, one of the world's leading payment card service providers. You can use the mobile money service to access your account online.
2. Bluebird by American Express
The card, which is also from American Express, will charge you up to 5% of your direct deposit, with a $5 minimum charge. You can get up to $5,000 in a single day and $10,000 in a month. The cards can be used anywhere that accepts American Express cards.
3. BB&T Prepaid Debit Card
Direct deposits are free with this card, allowing you to save a lot of money on your transactions. Direct deposits of up to $2,500 per day and $5,000 per month are possible. It's one of the best cards, and the customer service is outstanding.
4. Brink’s Money Prepaid Mastercard
The card is one of the most advantageous prepaid cards available. Its charges vary based on the amount of money being sent. Furthermore, there is no limit to the quantity of money you can transfer per day or month. As a result, receiving as much money as feasible via direct deposit is flexible. The card comes with all of the best features you could want.
5. GreenDot Prepaid Visa Card
Depending on the type of check, GreenDot Prepaid Visa Card levies fees of up to 4%. A direct transfer of up to $5,000 per day and $10,000 per month is possible. Given the little fees you must pay, it is one of the cheapest prepaid cards available today. The cards can be used to buy goods and services both online and in stores. When the need arises, you can easily transfer money to your bank account using the routing number and account number.
6. Kroger REWARDS Prepaid Visa
The card allows you to receive direct deposits of up to $5,000 per day and $10,000 per month. You can pay a fee of up to 5% of the transaction amount or a minimum of $5, whichever is greater. When you buy groceries and gas at a filling station, you can earn rewards, which can help you save a lot of money.
7. MOVO Virtual Prepaid Card
Depending on the type of check, direct deposit fees might range from 1% to 5%. You can get up to $5,000 every day and $10,000 per month in cash. There is no price to activate the card, and it can be used anywhere Mastercard is accepted.
8. MyVanilla Mastercard and Visa
You can receive direct payments of up to $5,000 per day and $10,000 per month, just like many other cards. Fees increase to 5% or $5 minimum, whichever is greater. You can also download the MyVanilla App, which allows you to access your prepaid card quickly, securely, and easily.
9. Netspend Prepaid Debit Card
Netspend is one of the most well-known prepaid card providers. Fees for the Netspend Prepaid Debit Card range from 5% to $5, depending on the amount spent. Direct deposits of up to $2,500 each check, $5,000 per day, and $10,000 per month are available. There is no requirement for a minimum balance on the card.
10. PayPal Prepaid Mastercard
PayPal is one of the world's largest money transfer companies. Aside from online money transfers, PayPal also offers the PayPal Prepaid Mastercard, which allows you to receive direct deposits with up to 5% fees. Direct deposits are sometimes free with a 10-day processing wait. The maximum deposit amount per check is $2,500, $5,000 per day, and $10,000 per month.
- How to Setup PayPal Key and Get a Free Virtual Credit Card
- Top Best Way to Add Visa Gift Card To Venmo
- Best Prepaid Credit Cards In Canada
- How To Transfer Money From Prepaid Card To Bank Account
- Top 4 Best Virtual Credit Cards in Canada
- Best Anonymous Virtual Credit Cards and How do they work
- Top Best Ways On How To Pay Someone With A Credit Card
- How to Get Free Virtual Credit Card for PayPal Verification
- How To Bypass CVV code
How do prepaid cards work?
To begin with, the cards are self-contained in the sense that they do not require you to attach them to any financial institution, such as a bank or credit union. To make a transaction, you must first apply for one. Typically, card issuers form partnerships with numerous businesses so that you can add money to your account at their locations. You may, for example, reload your Walmart MoneyCard at any Walmart location.
You can shop at many places that accept card payments once your card has money on it. When making purchases in a physical location, you must swipe or tap at the register to complete your transaction. The systems deduct the amount spent based on the point-of-sale records.
When making an online payment, provide your card number, expiration dates, and CVV in the fields provided during the checkout process. Because you only need to use your phone to purchase your goods and services, online payments are faster and more secure than in-store payments. Amazon, for example, requires you to check out online and pay with Visa, Mastercard, American Express, and other credit cards.
When you check at your card, you'll find that it has an expiration date. You should order a new card when your current one expires. It's always a good idea to order a new card a few days before the old one expires. This allows you to stay in touch at all times.
How to apply for a prepaid card?
You can apply for your prepaid card in one of two ways. They have both online and physical locations. The online application is the most convenient because it simply requires you to use your computer or tablet to complete the process. You can upload all of the required information for verification.
Because prepaid card accounts are financial institutions, similar to banks and credit unions, you must comply with federal requirements by supplying the required elements, which include the following.
- Social Security Number
- Identification Documents such as your State ID, passport, military ID, or Driver’s license
- Email address
- Phone number
- Physical address
After that, you must decide on the appearance of your card. Some issuers allow you to personalize your card with artwork, photos, and other items. Netspend is a fantastic example of this, as it allows you to tailor your card to fit your needs. Customizing a card gives the cardholder a sense of ownership.
After you've completed everything, you'll need to wait for your card to arrive at your location. The card is usually delivered within a week of the application date. To begin using it for transactions, you must first activate it. When applying at a branch, all you have to do is bring the original documents with photocopies, fill out the relevant forms, and either get the card the same day or wait several days for it to be processed.
What are the factors to check when applying for a prepaid card?
You can't just apply for any card you come across since you can end up with a major financial problem as a result of the card's expenses. The items listed below must be checked.
- Monthly maintenance fees
- Annual fees
- Foreign transaction fees
- Daily transaction limits
- Mobile app
- Zero liability protection
You should also see if you may transfer funds from your prepaid card to your bank account. Some prepaid cards, as I previously stated, do not allow you to transfer funds to your bank account. Because you'll need money in your account, be sure you have a card that allows you to do so.
Conclusion on the Best Prepaid Debit Cards with Mobile Check Deposit
You can buy goods and services with a prepaid card in the same way that you can with a debit card. Although you can link whenever you like, you are not obligated to link to any bank or credit union. A prepaid card might be either virtual or physical. Virtual prepaid cards can only be used to buy products and services through the internet. When applying for the cards, you can do so in person or online.