EXTENSION CONNECTION: Defining prepaid or reloadable cards

Published: Tuesday, March 19, 2013 at 06:18 PM.

•Monthly maintenance fee: varies depending on the card, but can be upward of $10 a month.

•Reloading fee: applied when you add more money to the card; may include third-party charges.

•Purchase transaction fee: May be waived for some direct deposit cards.

•Overdraft fees: some cards will charge if you spend more than what is on the card.

•Cashier withdrawal: charged when you withdraw at a bank or an agent location.

•ATM fee: charged for withdrawing money from an ATM. Some cards have free withdrawals at participating ATMs.

•Denied transaction fee: some cards charge a user if purchases are denied due to insufficient funds.

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