6 tips for controlling prepaid card fees
Avoid branded debit cards
McClary says that you'll find fees all over the map with these prepaid cards.
"On an annual basis, consumers can expect to pay anywhere from under $20 to nearly $400 in fees," McClary says. "It all depends on the card selected and on how it's used."
When shopping for the best cards, the generic cards linked to trusted banks are likely to be the most stable and cost-effective, he says. Flashy cards branded with celebrity names or other pop culture icons tend to have the steepest fees.
According to McClary, the key to saving the most money is knowing the terms of the card agreement. The better you're acquainted with the details, the less likely you'll be blindsided by a variety of fees that can drain your account.