Pre-paid card fees

http://www.usatoday.com/money/perfi/bas ... 55307552/1

New types of prepaid cards are rolling out at a brisk clip, and plenty of people will sign up despite the fees. ...The Consumer Financial Protection Bureau has warned that consumers may not see all the fees until they've bought some cards off the shelf. Some disclosure is iffy — and the bureau would like more regulation.

LOL, looks like the banks have figured out a way around the new regulations on account fees and credit card transaction fees. Look at the monthly charges on these pre-paid cards. What a rip-off.

Same ol story.

We listen to Marketplace just about everyday and we always listen to Marketplace Money every Friday. Here is the audio of the show from 5/25. It is really eye opening. and folks wonder why we need financial regulation. . .




http://www.marketplace.org/topics/busin ... paid-cards



Pre-paid credit cards were for a while a fringe product. But it's estimated that by 2014, people will have loaded $167 billion onto those cards. About half of these new users are Gen Y-ers, who grew up during the recession and view the pre-paid cards as a responsible way to simply spend what money they have. Chase, a mainstream card company, is getting in the game with its liquid pre-paid debit card.

With this boom in new users, regulators are taking a closer look at these cards and the fees they charge. Learn more about pre-paid credit cards by listening to the audio above. You'll also learn about American Express' new card that transfers all of your rewards to... the virtual world of "FarmVille." <-- as PT Barnum said "there's an ass for every seat" geez luise

Call me an ol fogey, but I have mostly gone back to cash. And I really liked the idea of a pre-paid card for travel and safety. I refuse to pay high fees though. I have lost alot of trust in the security of regular card transactions as well.

You need to look into what you think is "safe" with these cards and rethink. that is exactly what these banks are hoping, people don't look into it.

Why wouldn't someone just get a checking account and use a Visa debit card? I just don't understand why people pay to put money on a card when they could just do it for free or a small monthly fee at the most....credit unions.