Pros and Cons of Prepaid Debit Cards

They're now the fastest growing payment method. Americans spent about $37 billion on prepaid debit cards last year -- double the amount from 2009, according to the Network Branded Prepaid Card Association.

Yet you may get socked with higher fees when using them, compared to traditional bank checking accounts where fees also are rising, according to a recent Consumer Reports study.


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Prepaid Debit Cards