Some readers trashed us for recommending the UPside Visa prepaid debit card to keep college students supplied with cash and avoid credit card problems.
The fees that always accompany prepaid debit cards were a big complaint, even though the UPside Visa is one of the cheapest out there.
But we’ve just got to give a big shout out to the best prepaid debit card around, the Wal-Mart MoneyCard.
It’s always had the lowest fees, and the retail giant recently made it even better by reducing the cost of:
Opening an account from $8.94 to $3.
Loading cash onto the card at a Wal-Mart store from $4.64 to $3.
Monthly maintenance fees from $4.94 to $3.
And here’s what we like the most about the MoneyCard.
Wal-Mart will waive all of those fees for customers that have all or a portion of their paycheck direct deposited into their debit card account.
There’s never been a transaction fee — the $1 or $2 most prepaid debit cards charge every time you buy something.
The cards are issued by GE Money Bank, so deposits are FDIC insured.