Prepaid debit cards are very popular today. They can be attractive to those who do not have a credit card or do not want to use them. In many ways, they can take the place of a debit card that is linked to a checking account, but there are several differences that make them inferior to a checking account. The following are among the most important.

There is no fee for adding money to your account

If your balance on a prepaid debit card is low, it is easy enough to add money to it. The problem is that there are fees charged for adding money. There are no fees associated with adding money to your checking account, and the debit card that is linked to your account works the same way a prepaid debit card does.

You can avoid fees for cashing a check

You may think that you have no need for a checking account to cash checks, after all, your paycheck and even a tax refund can be transferred electronically to a prepaid debit card. But the first time you get an unexpected check, you will need to use a check cashing service to get your money. Although the fees vary, it is a cost that can be avoided with a checking account. And with a checking account, you have several options and none of them will cost you money. You can deposit the check at the bank or use an ATM. Also, many banks allow you to deposit a check using your smartphone and an app.

It is still convenient to write checks for certain things

Although it is easier to pay for most things with a debit card, there are times when it is easier to write a check. Perhaps your child needs to pay for something at school, and they will only take cash or check. You may prefer to send a check rather than cash when you send your kid to school. Of course, the big example is paying for your rent each month. Although you can buy a money order, it is more conventional to write a check, and besides that, money orders cost money.

Critics may be quick to point out that there are monthly fees charged by banks for checking accounts, but in many cases, these fees are reduced or waived. There are checking accounts available free or at a low cost for seniors and students. In addition, many banks will reduce or waive fees for those who have their paychecks automatically transferred to the bank. And of course, most banks will offer free checking with a minimum average balance maintained each month.

For more information, contact a local bank like FCN Bank.