New research concludes that consumers aged 18 to 34 years are more receptive than any other age group to using prepaid cards as an alternative to traditional checking accounts. Based on more than 1,000 online interviews by Atlanta-based Synergistics, 41 percent of spenders between those ages are "very" or "somewhat" likely to favor a prepaid card over a checking account -- regardless of income. That compares to 24 percent of 35-to-49 year olds, 15 percent of 50-to-64 year olds, and 3 percent of senior citizens. Out of all 1,026 survey participants, only 2 percent currently use a prepaid card instead of banking at a traditional financial institution; but 26 percent said they were likely to consider it in the future. The poll results also revealed that consumers who choose to go this route do not view bank-issued cards as their only option. While 41 percent said they would get the card from a bank or credit union, 33 percent indicated that they would go to a supermarket for department store to purchase a prepaid account.
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