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Miami, FL (PRWEB) January 03, 2012
2012 Top 10 Tips and Insights which http://prepaiddebitcards.net/ editor David Oz, former debit card industry executive of 5 years, compiled for consumers, students and parents whom are considering a prepaid debit card:
1. Know Limits
Do you want to use the prepaid debit card as a type of bank account? Check and see how much the limits are, since some cards will only allow you to hold $200 or so on the card at one time. Other cards may allow you to keep thousands, however.
2. Check Startup Fees
Are there any start up fees? Virtually all prepaid debit cards have a start up fee, often as low as $5 or $10 dollars. Just make sure you're aware of the cost first.
3. Reload Fees
The reload fees will vary by prepaid debit card, but will generally range from $3 to $5. This is an amount you will need to be sure to add to each transaction, so it's best to limit your transactions to avoid paying more than one reload fee.
4. Check ATM Fees
Find out how much you will be charged to use the ATM when you are withdrawing cash. This is normally a standard $3 to $5 dollars, but it can really add up so be aware of it.
5. Take Advantage of Cash Back
If you need cash and want to avoid ATM fees, you might consider using your prepaid debit card when you are making a purchase (such as at the grocery store) and asking for cash back. You can get the cash you need that way without the ATM fees.
6. Use Online Tools
If the prepaid debit card company you use has an online portal where you can access your balance, be sure to do so. This will help you track every purchase for free, as well as assist you in keeping your eye on your outgoing funds.
7. Check Before Calling Customer Service
Before you call customer service to speak to someone on the phone, make sure that your question can't be answered online. Some prepaid debit cards charge a fee to speak to a live person.
8. Hold Limits
Some prepaid debit cards might place a hold for an amount larger than the actual transaction when you are making a purchase such as gasoline. Check with your prepaid card to find out how much this amount is, and find out when the hold expires and allows your cash to become available again.
9. Use A Card With Benefits
Some prepaid debit cards in 2012 are now offering incentives like bonus points for purchases. You can save these points up for items like gifts and gift cards at online stores.
10. Check For Monthly/Yearly Fees
Some prepaid debit cards do charge a yearly or monthly fee for use. It is important to know how much that fee is, when it is charged, and whether it is charged in a lump amount or in several pieces.
At PrepaidDebitCards.net consumers have a choice when it comes to selecting a prepaid debit card, as well as the benefit from learning from our prepaid debit card blog articles. Gain insight from our blog and pick the prepaid card that will be the best deal for your own individual needs online at http://prepaiddebitcards.net/
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