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 Mango Prepaid MasterCard (by First Bank & Trust, Brookings, South Dakota) carries a $3 monthly maintenance fee, as well as a $1 fee for an ATM balance inquiry.

Mango Prepaid MasterCard (by First Bank & Trust, Brookings, South Dakota)

Are funds FDIC-insured? Yes
Monthly maintenance fee $3
Can the monthly fee be avoided? No
Card activation fee $0
Reload fee via direct deposit $0
ATM withdrawal fee (issuer’s ATM) N/A
Nonissuer’s ATM withdrawal fee, not including any bank fees $2
ATM balance inquiry $1
Fees for point-of-sale transaction  $0
Fees for signature transaction $0
Paper statement fee $0
Paper statement at ATM N/A
Bill payment fee $0
Fee for customer service by phone $0
Declined transaction fee $0
Purchase overdraft available? No
Cost of purchase overdraft N/A
Inactivity fee $0
Notes: Certain cardholders can be approved for a “courtesy cushion,” or overdraft, if monthly maintenance fee causes the account to fall into negative; no additional charge. Card is closed after 6 months 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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