KnowYourCard text logo
KnowYourCard text logo

I have a checking account and a linked debit card. Do I need a prepaid card?

Probably not. Careful use of a debit card (avoiding overdraft penalties and ATM fees) will nearly always be less expensive than the same spending on a prepaid card. Prepaid cards can be a good solution for someone who is unable to get a checking account, but they cannot offer any advantages over an existing checking account-linked debit card. And prepaid cards offer fewer protections than debit cards in the event of fraud or theft. If don't have a checking account and are considering a prepaid card, read Consumer Action's "A Consumer's Guide to Choosing a Prepaid Card."


RatingRatingRatingRatingRating
(4/5) based on 1
Rate this Post

Rate This Response

I have a checking account and a linked debit card. Do I need a prepaid card?


Read Next: What should I look for in a rewards card?