Prepaid Visa cards are reloadable debit cards that are not attached to a bank account or a revolving line of credit. The company issues these cards through select vendors and brands online, and they can be used at brick-and-mortar businesses or for online purchases.
Prepaid Visa Card Fees
Unlike credit cards, there are no credit checks, no late fees, and no interest charges associated with prepaid Visa cards. Unlike debit cards, there are no bank account fees, including no overdraft fees.
There may be reload fees, monthly service charges, activation fees, transaction fees, and direct deposit fees, depending on the card and the terms and conditions. There is a wide variety of different prepaid cards available on the market, all with different offers and terms, so you can shop around to find the best option for you. Some even offer rewards programs similar to credit cards, for example.