What could you do with an extra $27 this month? Taking your kids to the movies? Do you fill the gas tank of your car? Buy a little more at the supermarket? That $27 may not sound like a lot, but in today’s economy, every extra dollar helps. That’s why the Account Now Prepaid Visa or MasterCard makes so much sense for consumers who don’t have access to a checking account.
The Account Now card acts a bit like a combination of a credit card and a checking account. When your employer pays you, the money is deposited directly into your Account Now account. You then use your prepaid card just like you would a typical credit card. The only difference? You don’t risk racking up large amounts of revolving debt because your card is only loaded with money you’ve already earned.
Even more important, this card allows you to avoid the unnecessary fees that come with cashing a check when you don’t have access to a checking account. Most check cashing organizations charge 1 to 3 percent of the amount of your check. If you have a check for $250, then you can expect to pay a fee of $2.50 to $7.50.
Over a year, that adds up to some significant fees. However, with an Account Now card, you’ll pay just $9.95 per month in fees. According to data released by the company behind the prepaid card, the average consumer will save about $27 each month by using an Account Now card instead of a cash checking service.
Of course, if you get paid multiple times a month, you may be able to save even more money with the prepaid card. But even if $27 is all you save, that works out to more than $300 in savings each year. That’s not exactly dumb change.
In today’s economy, money is tight for everyone. There’s no reason, then, to throw yours away on unnecessary checking and cash fees. Invest in an Account Now card today; it could be the smartest financial decision you make this year.