Prepaid Cards Provided by Kaiku are a Great Alternative to Having a Bank Account

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Whether you have bad credit and cannot get a regular bank account or simply want to avoid the fees and stipulations imposed by traditional lending institutions, you will enjoy the freedom that comes with a prepaid debit card.

Prepaid-cardsPrepaid Visa or Mastercard debit cards are accepted everywhere and are a great alternative to a traditional checking account. You simply have your paycheck or government tax refund direct deposited onto your card, and you can use it to purchase groceries, set up online bill pay and even withdraw money from ATMs across the country. Some prepaid card companies even allow person-to-person money transfers and virtual loading from online payment processing companies like Paypal. This is great for contractors and people that perform freelance work online or sell on online auction sites for extra money.

Kaiku is an example of a prepaid debit card company that offers card-to-card money transfers and Paypal loading options. With a Kaiku Visa debit card, you can manage your finances via their mobile banking app, pay your bills online and load your card through direct deposit or Moneygram locations. With their mobile money option, you can even load money to your card from a paper check. You simply snap a picture of the check with a smartphone, and for a small fee, you can have access to your money in minutes or wait up to 10 days for the money for no fee.

The Kaiku prepaid card has no monthly fee, and they have a huge network of fee-free ATMs for withdrawing money when you need it. You can teach your teenage children the importance of managing their finances with a company like Kaiku; they let you add up to three additional cards to your account for your family.

Traditional lending institutions often mandate account minimum balances and will impose hefty overdraft charges and other fees for dropping below the minimum balance. With a prepaid debit card, you can free yourself from the lending institution trap and enjoy having access to your money on your terms; you can do everything from paying bills online to filling up your gas tank.

Published by Kidal Delonix (763 Posts)

Kidal Delonix is a contributor to Mr. Hoffman's blog. The views and opinions are entirely his/her own and may not reflect Mr Hoffman's views.

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