Writer: Ashley Fricker
Editor: Lillian Guevara-Castro
Reviewer: Danielle Spurlin
Key Takeaways
Our editors have evaluated prepaid card offerings to find the best that offer free reload options. Here are our findings:
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GO2bank™: Best overall for free reloads.
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Greenlight – Debit Card For Kids: Best for families.
When you take advantage of prepaid debit cards with free reload options, you can save more of your money for the things that matter most to you. Instead of letting fees and charges chip away at your earnings, you can deposit, store, and spend your money without paying for the privilege.
Just remember that every prepaid card has a different fee structure. What’s free on one card may incur a charge on another. Plus, some cards allow you to reload your card account for free using specific methods — but there may be a charge if you use a third-party service to add money to your card.
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Prepaid Cards With Free Reload Options
Prepaid debit cards are a great way to save and budget your money without the need for a bank account. With a reloadable prepaid card, you can only spend the money you have deposited into your card account. Here are some top options, all of which have free reload options.
- Overdraft protection up to $300 with opt-in and eligible direct deposit*
- No monthly fees with eligible direct deposit, otherwise $5 per month
- Earn up to 7% cash back when you buy eGift Cards in the app
- Get your pay up to 2 days early – Get your government benefits up to 4 days early.*
- High-yield savings account, 4.50% APY paid quarterly on savings up to $5,000.*
*Terms and conditions apply. GO2bank™ cards are issued by Green Dot Bank, Member FDIC, pursuant to a license from Visa U.S.A., Inc. Visa is a registered trademark of Visa International Service Association. Overdraft fees may apply. Click Apply Now to learn more.
The GO2bank™ offers several ways to add money without paying a reload fee, including direct deposit, transfers from a linked bank account, and mobile check cashing if you choose the free 10-day funding option.
You can also deposit cash for free at Walgreens by generating a barcode in the GO2bank app and presenting it at the register. Be sure to use the barcode: Depositing cash by swiping your debit card or visiting other participating retailers can cost up to $4.95.
- Greenlight is a debit card for kids, managed by parents
- Parents set flexible controls and receive real-time alerts while kids monitor their balances, set goals, and learn how to manage money
- Feel secure knowing Greenlight blocks unsafe spending categories
- Receive Mastercard’s Zero Liability Protection
- Upload a photo of your choice to create a unique custom card
- Debit cards are FDIC-insured up to $250,000
- Easily turn your Greenlight card on or off and receive real-time spending notifications
The Greenlight – Debit Card For Kids Greenlight lets parents add money without reload fees using a linked bank account, debit card, PayPal, or Venmo account. Funds go into the Greenlight Wallet, where parents can distribute money to their children’s cards or set up automatic funding to keep the wallet topped up.
To add cash, you’ll need to deposit it into your own bank account first, then transfer it to Greenlight. Reloads are free, but a separate subscription fee applies.
- Waive your monthly fee when you direct deposit $500+ in previous monthly period. Otherwise, $5.94 a month.*
- Earn 3% cash back at Walmart.com, 2% cash back at Walmart fuel stations, & 1% cash back at Walmart stores, up to $75 each year.*
- Earn 2% interest rate on up to $1,000 balance in your savings account. Plus, get chances to win cash prizes each month!*
- Get peace of mind with three coverage levels, up to $300, for purchase transactions with opt-in & eligible direct deposit.*
*Please see site for full terms and conditions.
Additional Disclosure: Walmart MoneyCard® is a debit card offer.
You’d expect the Walmart MoneyCard® to offer free reloads at Walmart locations. After all, the Bluebird card by American Express has a similar offering. But that isn’t the case with this card. Not only will you pay a fee for cash reloads at Walmart locations, but you’ll also encounter check-cashing fees charged by the store when you deposit checks in person.
The sole free way to add funds to your Walmart MoneyCard® is by transferring money from a linked checking account through the Walmart mobile app.
- Earn points on swipes: Earn up to 7x the points on card swipes at over 14,000 participating merchants, then redeem them for cash back in your account.*
- Get paid up to 2 days faster with direct deposit*
- If you qualify, you can access up to $750 before payday with a paycheck advance
- Qualifying direct deposits receive fee-free overdrafts*
- No minimum balance fees, no overdraft fees, no bank transfer fees
- Access to more than 40,000 fee-free ATMs*
- *View product disclosures here.
Walmart MoneyCard® offers free ways to add money to your account, including direct deposit, standard transfers from a linked bank account, and mobile check deposits through the app. Mobile check deposits become available after your first successful deposit from another funding source, and checks typically take three to five business days to clear.
If you prefer to reload with cash, you can visit participating retailers such as CVS, Walgreens, and 7-Eleven, but each cash deposit carries a $3.50 fee.
- Great for families who wish to store money on multiple prepaid cards linked together
- No risk of debt, overdraft, or hidden fees
- Retain parental visibility and control while empowering kids of all ages
- Separate funds into multiple purpose-driven accounts
- Alert parents and children about card activity and the remaining balance in real time
- A paid FamZoo subscription entitles you to use all of the active prepaid cards in your FamZoo family for as long as your subscription remains active. Adding family members and adding cards does not impact your subscription fee.
The FamZoo Prepaid Mastercard offers free direct deposit and charges no fees for electronic reloads, including transfers from a bank account. Your bank may charge its own transfer fee, so check before sending money. You can also reload for free using standard transfers from supported digital wallets such as PayPal or Cash App, though instant transfers generally carry a fee.
Once funds are on a FamZoo card, parents can move money instantly between family members’ cards at no charge. A separate FamZoo subscription fee applies.
What Is a Prepaid Debit Card?
A prepaid debit card is a financial product that allows you to deposit your money into a secured account and use your card to make purchases using those funds. You can use your card number to make purchases online or in person, and the purchase amount will automatically be deducted from your account balance.
Prepaid cards are similar to a debit card issued by a traditional bank or credit union. It won’t allow you to spend more than the amount of money you have deposited into your account, though some cards provide a small purchase cushion.
You can find prepaid cards that work on credit card networks maintained by Mastercard, Visa, or American Express.
How Do I Apply For a Prepaid Card?
Applying for a prepaid debit card that suits your needs is simple. Just use the links provided above. The process is quick and straightforward, and there’s no need for a credit history check.
In most situations, the bank that issues your prepaid card will only require basic identity information. This includes your name, address, phone number, and Social Security number.
You can wire funds to your account electronically when you apply, or wait until your card arrives to deposit cash. Your card should arrive in seven to 10 business days, and you can use it as soon as money is loaded into your account.
How Can I Add Money To My Prepaid Card Without Paying Fees?
The best prepaid debit card offerings on the market provide several hassle-free ways to deposit money into your account. The very best of the best don’t charge for a majority of these methods.
Leading prepaid card issuers like Netspend and Green Dot Bank have teamed up with businesses across the country to accept cash reloads at the register. These partners include convenience stores, grocery stores, and check-cashing centers.
Although the card issuer might not charge you for this service, you may still face a processing fee from the business accepting your cash.
If you want to avoid this fee, most prepaid cards allow you to add cash to your account without a fee via direct deposits of checks (either payroll or government benefits), mobile check deposits, or online transfers from a linked bank account.
These methods aren’t free for every card. Check your cardholder agreement in your online account center for a breakdown of your card’s fees and other charges.
What’s the Difference Between a Prepaid Debit Card and a Credit Card?
With a prepaid card, you’re spending your own money. With a credit card, you spend the bank’s money and repay the balance over time. A credit card may offer you rewards for your purchases.
A prepaid card allows you to put money into a savings account and spend it with your card, similar to how you would use a debit card linked to a checking or savings account at a bank or credit union.
The card will allow you to spend up to your deposited amount. There’s no line of credit attached to this type of card.
A credit card comes with an approved spending limit, which is essentially the amount of money the bank decides to loan to you. Every time you use your credit card to make a purchase or pay a bill, the bank forwards the money to the merchant for you. This is a loan that you’ll repay over time and with interest if you don’t repay the bank within the interest-free grace period.
A prepaid card is sort of like a secured credit card that requires an upfront cash deposit. But that deposit cannot be spent as it can with a prepaid card. Secured cards help consumers with poor credit rebuild their credit history with on-time payments, which leads us to our next question.
Can I Improve My Credit Score With a Prepaid Card?
A prepaid debit card does not affect your credit score because the account has no associated line of credit. Banks and lenders only report accounts to the credit bureaus that require regular repayment, including loans and credit cards.
Your credit score is essentially a snapshot of how well you handle debt and ongoing bills. It reflects whether you pay your accounts on time and the size of your outstanding balances.
Since a prepaid card doesn’t incur debt, you won’t see any mention of it on your credit history.
Can I Have More Than One Prepaid Debit Card In My Name?
There’s no rule that limits how many prepaid debit cards you can have in your name. Just remember that each card may charge a monthly fee, an inactivity fee, or various transaction fees, which can become expensive if you have more than one card.
Also, by maintaining more than one prepaid card account, you’re forced to spread your money around in multiple accounts. If you ever need a large portion of your money for a single purchase or bill, you’d have to find a Moneypass ATM or other location to withdraw money from some accounts and then load that cash into your primary card account.
All of those transactions would likely come with transaction fees that eat away at your savings. Read your cardholder agreement, often found in your online account center, to understand all of the fees your card will charge.
Compare Prepaid Debit Cards With Free Reload Online
Prepaid debit cards are no longer relegated to the gift card rack at your local convenience store. Today, you can add a Mastercard, American Express, or Visa debit card to your wallet and use it as a tool to replace a traditional bank account.
And with prepaid debit cards with free reload options, you can keep more of your money for yourself.
Editorial Note: Our site content is not provided or commissioned by any credit card issuer(s). Opinions expressed on CardRates.com are the author's alone, not those of any credit card issuer, and have not been reviewed, approved, or otherwise endorsed by credit card issuers. Every reasonable effort has been made to maintain accurate information; however, all credit card offer details, including information about rewards, signup bonuses, introductory offers, and other terms and conditions, is presented without warranty. Clicking on any offer on CardRates.com will direct you to the issuer's website, where you can review the current terms and conditions of the offer.
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