Reloadable Prepaid Cards Highly Favored

April 1, 2014
ABA Banking Journal 
credit card news
A new survey conducted on behalf of the American Bankers Association finds that many American adults believe the features of reloadable prepaid cards are especially beneficial to consumers.

The most popular feature for consumers is prepaid cards' ability to be used anywhere the card's network brand is accepted. Seven in 10 view this as a good thing, including 47 percent who believe it is a very good thing. Another feature related to convenience -- providing customers with the flexibility to shop online where checks and cash generally are not accepted -- is also seen as being beneficial by 68 percent. A solid majority of U.S. adults (69 percent) also like the cards' fixed spending limit, which blocks users from spending more than is on the card. Nearly two-thirds of Americans (62 percent) believe prepaid cards are good for consumers, and that number is 80 percent among those who have experience with prepaid cards.

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