Are pre-paid debit cards fee happy? | The Frugalista

Are pre-paid debit cards fee happy?

by frugalista on October 8, 2009

The New York Times had a video about pre-paid debit cards  and the amount of fees that the companies charge. Pre-paid debit cards are all the rage. I've even done a giveaway on my blog about the cards. I warned about the fees, but consumer advocates are really concerned about them because they are rising in popularity. Some cards charge as much at $30 per month in fees. Yikes! A lot of people who can't get a bank account can get the pre-paid debit cards. Because they are so new, they are not really regulated.

Do you use pre-paid debit cards? What do you think about them? Do you think they are taking advantage of poor people? Do consumers need to learn to read the fine print?

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