Consumers Beware – Reloadable Prepaid Debit Cards Loaded with Fees

reloadable-prepaid-cards

Reloadable prepaid debit cards represent one of the fastest-growing segments of the financial services industry.

Last year, Michael Abukhader’s 12-year-old son, Jacob, received a $30 NASCAR prepaid Visa card from an aunt who thought it would provide a convenient way to give him cash for birthdays and other events. But once Abukhader, who lives in Queen Creek, Ariz., reviewed the terms of the card, he closed the account.

 

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