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Amex Prepaid Card As Good As It Gets

The American Express Prepaid Card comes with few fees attached.Most prepaid debt cards get a bad rap, and they deserve it. They can prey on customers by offering no perks, high fees and awful protections.

But there are a few good prepaid cards, and perhaps the best we’ve seen is new and comes from an unlikely source — American Express, which is now offering the American Express Prepaid Card.

The worst feature on prepaid cards is the fees.

Whether you’re loading the card, withdrawing the money or even using the card, most issuers charge a fee.

Amex nearly eliminates user fees.

You’ll pay only:

  • If you make more than one ATM withdrawal monthly (second and subsequent withdrawals will cost you $2, not counting fees levied by the ATM operator).
  • If you reload the card with cash. You can reload by buying a MoneyPak available at stores nationwide, which includes a purchase fee of up to $4.95 (Amex says for a limited time it will refund the purchase price of the first MoneyPak card you buy.).

You can reload the card for no charge through an online transfer from your checking account or through your American Express credit card through the Amex website.

If you choose to load the prepaid credit with a credit card or bank account, it can take three to five business days for the funds to be available. The minimum load amount is $25 and the maximum is $2,500.

Use the card just like any other credit or debit card.

The American Express prepaid card also includes a lot of other good features. Three of the best are:

  • 24-hour customer service: While some prepaid cards charge a fee if you call customer service, American Express offers free 24-hour assistance.
  • Purchase protection: If an eligible item purchased with the card is accidentally damaged, or is stolen, purchase protection can reimburse you — up to 90 days from the date of purchase.
  • Roadside assistance: This is perfect with teenagers on the road.

For now, you can only get the card online at the American Express Prepaid Card website.

Considering the lack of fees and increased funding options, the American Express prepaid card is a perfect fit for anyone in need of a safe and secure payment method.

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