Rise in popularity of Amex Prepaid Cards together with other cards issued by different companies are observed nowadays.
Accordingly, one reason cited is the diminishing number of people using bank checking account.
These individuals chose to discontinue their bank checking account to avoid charges because of failure in maintaining the required minimum balance.
In addition, others who are unable to manage their finances are overwhelmed with overdraft charges and also, many are blacklisted that cannot open bank checking accounts anymore due to bad credit.
There is truth in the saying that it is never convenient to live in a digital world without the use of credit cards. However, many who are unqualified for the cards are turning to buy reloadable prepaid cards instead.
Amex Prepaid Cards Features and Benefits
In a study conducted in 2010 by the Federal Reserve, prepaid cards are the fastest-emerging non-cash means of payment in the U.S.
Along with the efforts of banking establishments in getting back big numbers of their lost clients, large financial companies such as PNC Bank, JPMorgan Chase & Co., and American Express are introducing prepaid cards as better alternative.
In such time, prepaid cards from American Express are offered as secure and easy access of consumer’s money.
One can spend Prepaid Cards from American Express just like cash. Since you will just spend what was loaded, there would be no overspending.
Therefore, you need not to worry about overdraft fee, and do not have to pay a monthly fee as well.
Prepaid card from American Express does not have any recurring fees, so that you can keep more of your money and use it the way you wanted.
Consumers are also protected should their card be lost or stolen. They will not be responsible for any fraudulent charges made on the card and
American Express will even replace the lost fund.
In addition, prepaid card users can easily manage their card online. Using their account, they can check their balance and view transaction history. They can also add fund, set an automatic reloads and make use of alerts.
Consumers are given the chance in getting up to three prepaid cards. They can use one of the cards to manage their own and provide fund to other people they want.
Ways to Reload Amex Prepaid Cards
American Express ensures convenience to prepaid card users by providing them with easy ways in loading their cards.
Direct Deposit. Use this option to save time in reloading. Direct deposit can automatically transfer part or your entire paycheck to the prepaid card.
Bank Account. You can reload using bank account by entering account information online. This will facilitate reloading from your savings or bank account. With this option, the fund will be available within five business days after reloading.
Vanilla Reload Network. You can choose to reload cash with Vanilla Reload Network. Look for participating retailer and buy a VRN card. You can purchase up to $500 with corresponding $3.95 purchase fee.
Load with MoneyPak. Use this option by purchasing a MoneyPak from local retailer. You can add funds by phone or online. A $4.95 service fee will be charged.
For more information and help about Amex Prepaid Cards, you can visitAmerican Express website.