There's been alot of talk about prepaid debit cards lately. My wife just got an American Express Prepaid Debit Card.
· Free transfers from a bank account (2-3 days).
· 1 free ATM withdrawal per month.
· Free Roadside Assistance.
· Direct Deposit coming soon.
· You can accumulate reward points like a traditional AE Cared.
· If you add to the card using a MONEYPACK card, there is a $4.95 fee.
· I ain't buying no mo' stinking MONEY PACK cards for her. There is currently a promotion-- AE will re-imburse the 1st $4.95 fee. (beautiful)
I'm going to order one for myself, not as an alternative to having a banking account, but for the convenience of having roadside assistance, REDBOX Rentals (1 free rental per CC), etc. I will load small amounts of money on the card and use it for emergencies or for when it's more convenient to use AE vs. MC/VISA. i.e., my water bill can no longer be paid with my VISA Debit card; they will charge a 2% fee. If I use AE, then no fee.... and that's a no brainer!!