Choosing where to put your money is almost as difficult as deciding how to spend it. You have more options than ever before, so where should you park your cash? One option to consider is a prepaid Visa® or prepaid Mastercard® card. Below we discuss why you might find them more attractive than other banking options.
According to a 2014 report from the Federal Reserve Bank of San Francisco, 40 percent of all consumer transactions is conducted with cash, making it the most commonly-used financial instrument (followed by debit cards at 25 percent and credit cards at 17 percent).
Despite their explosive popularity of late, prepaid debit cards — and the benefits that come with them — are still unfamiliar to a wide swath of the American public.
The traditional checking account is, by and large, the most popular banking option among American consumers. However, there’s another tool gaining popularity — the prepaid debit card.
If you’ve received a new credit card within the past year, chances are you’ve noticed some subtle changes to how you purchase things in stores. Instead of “swiping” your credit card, merchants are asking you to insert it into a slot (sometimes known as “dipping”).
Welcome to a smart new security device: the EMV chip. But what is this chip? Where did it come from and why do we need it?
It was the fees that finally drove Joel Lawton away from his traditional bank account.
A Dallas area mortgage loan officer, Lawton’s income is entirely commission-based, meaning it can vary greatly from month to month and week to week. He makes a good income—around $50,000 total in most years—but the way that most banks determine their fees and billing schedules never really worked for his personal financial situation.