The UPside Prepaid Visa card is relatively cheap and allows parents to maintain some control over student spending.
Teens can only spend the amount parents load the card. There’s no way to overdraw the account and rack up big overdraft charges, or incur similar penalties by exceeding a credit card limit.
Online access allows parents to see how much money is available and talk with their kids if spending starts to veer off course.
Unlike many prepaid debit cards there’s no fee to make a purchase, and cash withdrawals from ATMs cost $1.49 (plus the fee from whatever bank you’re using.)
There are two payment options:
Upside Access charges a $4.95 activation fee, a 99 cent monthly membership fee and 99 cents each time you add money from a checking or savings account.
Upside Edge charges an annual membership fee of $24.95, there’s no activation or monthly fees, and loads from checking and savings are free.
(Loads from a credit or debit card are $2.50 each for both cards.)