April 6, 2015 in Banking

Bankrate’s 2015 Prepaid Debit Card Survey offers a rundown of the card’s many variables, including fees, restrictions and factors that may affect a consumer’s decision in choosing a prepaid debit card. The Comerica Bank Convenience Card (through Elan Financial Services) has a $3.95 monthly maintenance fee, but does not have a point-of-sale transaction fee.

Comerica Bank Convenience Card (through Elan Financial Services)

Are funds FDIC-insured? Yes
Monthly maintenance fee $3.95
Can the monthly fee be avoided? No
Card activation fee $5.95
Reload fee via direct deposit $0
ATM withdrawal fee (issuer’s ATM) $0
Nonissuer’s ATM withdrawal fee, not including any bank fees $2.50
ATM balance inquiry $1
Fees for point-of-sale transaction  $0
Fees for signature transaction $0
Paper statement fee $3.95
Paper statement at ATM N/A
Bill payment fee $0
Fee for customer service by phone $2
Declined transaction fee $1
Purchase overdraft available? No
Cost of purchase overdraft N/A
Inactivity fee $0
Notes: No monthly fee if there is a zero balance. Account will be closed after 90 days of inactivity.

Bankrate.com surveyed 31 prepaid debit card offers Feb. 2-10, 2015. These are the resulting fees, restrictions and other card provisions.

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