Posts Tagged ‘ Prepaid Debit Card ’

Green Dot Should Be Greed Dot

October 12th, 2009. By LucyC

Almost everyone has a tale of woe when it comes to fees charged by bank cards and credit cards, but what about prepaid debit cards—the new kid on the block? 

Reportedly, some 80 million Americans are using these cards in lieu of having a bank account— and it’s proving exhaustively expensive. Why? These types of cards automatically deduct a laundry list of fees, information on which may not be easily found, and which can result in a “Surprise!” zero balance. You know—you put $200 on the card, spend $150 and then go to make a $20 purchase sometime later only to have it declined due to insufficient funds. Where’d the remaining $50 go? To the card company—in fees. 

Take Green Dot . for example. Green Dot is among the largest providers of prepaid debit cards in the US. Here’s a list of their fees that are not put front and center on their marketing materials:  Read the rest of this entry »

Tags: Green Dot, Prepaid Debit Card
Posted in Financial | 1 Comment »