Research & Analysis
Are You Using a Prepaid Card to Buy Holiday Gifts?
- Prepaid Cards Research Project
- December 3, 2012
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. more
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.more
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. more