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Kiplinger: Alternatives to Traditional Banks

Prepaid cards are notorious for their a la carte charges; a recent Pew Charitable Trusts study found that most impose between seven and 15 fees. Many impose a monthly fee, with a median of about $6.

Infographic: Risky Refunds

What are the risks when consumers receive their tax refund on a prepaid card? The use of general purpose reloadable prepaid cards has grown 600 percent since 2010, and Americans are expected to load over $200 billion on them this year, according to the Mercator Advisory Group.

Imperfect Protection

General purpose reloadable prepaid cards have rapidly gained popularity. They allow consumers to direct deposit their paychecks and pay their bills online, just like a checking account. But unlike checking accounts that carry up to $250,000 in mandatory deposit insurance per customer, prepaid cards are not required to carry any at all.

Are You Using a Prepaid Card to Buy Holiday Gifts?

Do you know what sort of fees you will pay or what times of consumer protections apply to you?

Paying for the Holidays

As the holiday shopping season takes off, consumers are turning to a variety of financial management tools. View our slideshow and learn more about Pew’s research on hidden bank fees, the growing use of prepaid debit cards, and the actual duration of payday loans that are marketed as two-week products.

Pa. Senate panel Hears Testimony About Proposed Payday Lending Law

A controversial bill that would create a friendlier environment for payday lenders to take up residence in Pennsylvania is vying for Senate action this fall.

Prepaid vs. Checking

What kind of consumer are you? How would switching from a checking account to a prepaid card affect the fees you pay when you manage your money? Find out with our new interactive quiz.

Loaded With Uncertainty

General purpose reloadable prepaid cards are rapidly growing in popularity. This study reveals that the prepaid card is a risky, largely unregulated alternative to the traditional checking account, but may work for some consumers who frequently incur high bank overdraft fees.

Regulatory Comment: Proposed Rulemaking on General Purpose Reloadable Prepaid Cards

The Pew Charitable Trusts’ Financial Security Portfolio is pleased to provide comments in response to the Consumer Financial Protection Bureau’s Advanced Notice of Proposed Rulemaking on General Purpose Reloadable Prepaid Cards.

Key Focus Group Findings on Prepaid Debit Cards

This fact sheet focuses on the lessons learned from consumers who purchase and use prepaid debit cards.