3. Use your debit card to get cash back when making purchases, to avoid ATM fees.
4. Receive free, automatic alerts to protect your account if:
5. If you plan on using your debit card across state and international lines, let your bank know ahead of time, to prevent fraud or security alerts.
Prepaid cards as a financial teaching tool – Prepaid cards can be a great way to help young people gain experience budgeting, using ATMs and making purchases. Because you aren’t given a line of credit, you can’t overdraw from your account. The cards are low-risk and allow parents to access the accounts online.
Prepaid cards as an alternative check cashing tool – Many consumers still operate outside the traditional banking system and take their checks to check cashing stores. This practice can get quite expensive with fees, so choosing a prepaid card that offers the ability to directly deposit checks without ATM withdrawal fees will save you money in the long run.
Need a little guidance on how to correctly fill out financial institution forms? Consider using these step-by-step guides for making a deposit, writing a check, using a transaction register, reading a bank statement and reading a credit card statement.
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