I am about to declare Chapter 7 bankruptcy. My family is willing to loan me some money for a prepaid card. Is there a prepaid card that will allow ATM withdrawals both in the USA and abroad? Thank you.

Answered on April 12, 2013
Updated on April 12, 2013
The content is accurate at the time of publication and is subject to change.
Amy Miller Amy Miller

Almost all prepaid cards allow ATM withdrawals abroad, the only difference is fees. For example, consider the American Express® Prepaid Card. The card offers one free ATM withdrawal per month, and you will be charged $2.00 per ATM withdrawal thereafter. Also this card does not have monthly or annual fee. You can compare this card with other prepaid cards we have on our site.

All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.

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A prepaid card is a payment card that you load with money before you can use it for purchases. Prepaid cards may look like credit cards, as they may have numbers, your name and Visa or MasterCard logo. But prepaid cards are different - you are not borrowing money, you are spending money you loaded onto the card in advance. Prepaid cards give you convenience of electronic payments.
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Pre-paid card can be great for this sort of thing. AccountNow® Prepaid Visa® Card has an one-time activation fee $4.95. This card comes with $0 monthly fee, but you should clarify further this information in the cardholder agreement on bank's site. When you choose prepaid card, pay attention of what fees are associated with the card. Some cards charge maintenance or other fees. Some pre-paid cards allow the holder to withdraw the cash which means you would not be able to track what the money was spent on.

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