The prepaid debit card industry is big company.

The prepaid debit card industry is big company.

Together with his squeal-inducing face regarding the address regarding the brand new SpendSmart card, the Biebs joins more information on superstars endorsing prepaid debit cards. These cards enable you to upload and spend cash just like a normal debit card, with no nuisance of managing money or starting a banking account. Better still? You can’t save money than you upload, meaning overdraft charges certainly are a plain thing for the past.

Doesn’t noise too bad? Well, there’s a catch.

Based on your card of preference, you are charged for almost any associated with the following: purchasing the card, month-to-month upkeep, uploading cash, inactivity, ATM withdrawal, card decrease, creating a purchase in-store or online, talking to a client solution agent, and also utilising the customer service system that is automated. Many cards acknowledge at the least seven, or over to 15, regular costs. These charges add up fast at nearly $3 a pop.

Sweet young Justin’s card, among other items, fees users 50 cents simply to check always their account balance. Now why would he consent to engage in something such as that?

Money, Money, Cash, Cash. Cash!

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