Review

The Bank Freedom(SM) Prepaid MasterCard®, issued by MetaBank, is a stored value card designed for those who may have difficulty in obtaining an unsecured credit card.

This card requires the cardholder to make payments in advance, which are then used to offset future purchases made with the card. The card can be loaded by adding cash using a MoneyPak® at an authorized retailer, card to prepaid card (within the Bank Freedom program), Paypal to prepaid card, checking account to card transfers, or through free direct deposit. In addition, the $4.95 monthly service fee is waived if a minimum direct deposit of $500 is made.

There are other fees associated with this card, including a $1.50 per ATM cash withdrawal, $5.95 paper statement mailing fee, and a $1.50 per ATM cash withdrawal. If $500 in direct deposits are not made monthly cardholders can expect to pay a minimum of $59.40 in fees within the first year.

Cardholders can take advantage of additional services and benefits, including free email and wireless alerts for account information, MasterCard® Zero liability for unauthorized transactions, free direct deposit, and unlimited bill payment.

Therefore, those who are looking for a prepaid card without a large amount of fees may find the Bank Freedom(SM) Prepaid MasterCard® to be a suitable option.