Our 31-Day Money Challenge will help you get out of debt, save more, and take back control of your life.
Bonus: You'll also get instant access to my interview of a husband and father who retired at the ripe old age of .
Perhaps the key benefit is direct deposit of paychecks, government checks, and benefit checks.
There are several prepaid cards that will waive all fees if you have your paycheck direct deposited to the card.
You can also use prepaid cards at ATM machines to withdraw cash.
You can add money to the prepaid card and use it anywhere Visa or Master Card debit cards are accepted.
Time Magazine wrote about this phenomenon, which costs consumers billion a year in fees charged by check cashing stores, payday loan providers, and others.
It’s not at all uncommon for consumers to spend 3% or more to get a paycheck cashed.
The key to finding the right prepaid credit card is to find one that charges no fees or very small fees.
All prepaid cards charge various fees, but some of them waive some or all of the fees if you sign up for direct deposit.