The prepaid industry is working to shed its reputation as the card with high fees. But it's not just fee stabilization that’s contributing to its rise — it's the maturing prepaid features that are helping customers understand its benefits.
According to a July Consumers Union report, more consumers now recognize that their prepaid cards can be used for cash withdrawals at ATMs, and that some prepaid companies offer free customer service. Prepaid card issuers are also offering prepaid cards that can be reloaded via mobile remote deposit check capture, solving the issue of finding a reload center.
Consumer Reports rates the American Express/Walmart Bluebird prepaid card as a top-five card. Others are H&R Block's Emerald Prepaid MasterCard, the Green Dot Visa and MasterCards, and Suze Orman's Approved Prepaid MasterCard with or without direct deposit capabilities.
But the study also notes that companies can do a better job of communicating these features to consumers, which spells out opportunity for some prepaid companies to reach out to their customers.
Find out more about what leading prepaid companies are doing to innovate and offer better features and functionality to a growing audience of prepaid customers at the ATM, Debit and Prepaid Forum.
- Prepaid Matures as an Industry – What’s in it For You?
- Is it Time We Start Thinking of Prepaid As Another Deposit Product?
- How Prepaid Innovation is Driving Future Advances in Financial Services
- Separating your Prepaid Card from the Pack
You can read all about the Prepaid track at ATM, Debit & Prepaid Forum here.
— ATM, Debit & Prepaid Forum Team