If you’re looking to an alternative for your debit or credit card, why not consider adding a prepaid card to your financial arsenal? Reloadable cards have risen in popularity in recent years: one in six people in “Generation Y” use them. And for the nearly 70 million Americans that don’t use checking accounts, a reloadable card is a secure, easy way to manage funds including weekly paychecks, which can be directly deposited into the reloadable card account.
While the card is a great option for people without checking accounts, it’s also another great payment tool for those that do. Reloadable cards as a supplement to a Checkcard and can be a big help when it comes to budgeting. Use the card to set aside money for your holiday shopping, for miscellaneous expenses during the month or for a special event like a wedding or big trip.
The reloadable card works as a “checkless checking account”. You can direct deposit paychecks, shop and pay bills online, get cash at ATMs and use the card virtually anywhere. It’s an alternative to carrying cash and you’ll never have to worry about overdraft fees. It’s also a safer option than cash or a Checkcard; reloadable cards are PIN protected and are not linked directly to your checking account, so in the event that the card is lost or stolen, your other finances will stay safe. In addition to peace of mind, the card offers text message alerts that allow you to manage your money on the go, and online access so you can instantly load funds whenever you need them.
Want to learn more? Stop into any of our convenient branch locations for more information or to sign up for your Community Bank of the Chesapeake Reloadable MasterCard!