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 American Express Serve Card has a $1 monthly maintenance fee, but the monthly fee can be avoided.

American Express Serve Card

Are funds FDIC-insured? Yes
Monthly maintenance fee $1
Can the monthly fee be avoided? Yes
Card activation fee $0 online; $3.95 in retail locations
Reload fee via direct deposit $0
ATM withdrawal fee (issuer’s ATM) N/A but free at MoneyPass ATMs
Nonissuer’s ATM withdrawal fee, not including any bank fees $2.50
ATM balance inquiry N/A
Fees for point-of-sale transaction  N/A
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: No monthly maintenance fee in New York, Texas or Vermont. Monthly maintenance fee waived with direct deposit or if you add $500 or more per month to your account or if you link it to Softcard. Paper statement on request. No PIN transactions permitted.

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