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Reloadable debit cards also called prepaid debit cards are a safe and hassle-free alternative to make purchases or payments for products online or offline. Once you purchased the card, you have to load it with funds first before you can use it. The smallest and biggest values you can put in a single transaction differ among prepaid debit card issuers. As your card’s balance approaches zero, you can load it with funds again by sending money via the issuer’s official website or paying directly at the brick-and-mortar store where you bought the card. 

The major dissimilarity between reloadable cards and debit and credit cards is that with the former you can only make use of the money you loaded. Debit cards on the other hand usually have overdraft protection which authorizes a purchase even if you have insufficient funds. Naturally, this overdraft protection has a convenience charge attached to it, which is quite substantial. Overdraft fees can run as high as $38. Hence, debit cardholders who do not keep track of their purchases can find themselves in debt. This is also true for credit cards since the APRs, punitive charges for delayed payments, as well as yearly charges that come with them can accumulate quickly if you don’t keep track of your spending. 

The great thing with prepaid cards is that they do not come with too many charges. In most cases, they come with no activation and maintenance fees. Additional charges for transactions made using prepaid debit cards are uncommon and whenever applied are relatively small. Reloadable cards are also easier to get than credit cards since your credit and employment history are not evaluated. Furthermore, unlike debit cards, reloadable cards are not linked to your bank account, hence your account will not be drained in case it is lost or stolen. 

Carrying a reloadable card is less risky and troublesome than bringing along physical money especially if you travel frequently. ATM withdrawals using reloadable cards are possible but are rarely done because most providers usually charge for second and subsequent withdrawals made. Because of their modest requirements and the benefits of using them, prepaid debit cards are becoming increasingly popular. You can find a number of banks and other financial institutions which issue prepaid debit cards. Two of the best prepaid debit cards are discussed below. 

One of the best prepaid debit cards is Netspend and is one of the first companies to provide such product. The company also operates its own website, netspend.com, where their terms of business can be found. One advantage to using a Netspend debit card is that you can readily keep track of your purchases by simply viewing your account at netspend.com.

Another prepaid card provider with a strong online presence is AccountNow. The URL to their official website is accountnow.com. The company was established only in 2004 but it has managed to earn a number of recognitions. Accountnow.com’s success is attributed greatly to its reliable customer support.