Reloadable prepaid cards highly favored

Many American adults believe the features of reloadable prepaid cards are beneficial to consumers, with their convenience, flexibility, and spending limits seen as the top benefits to consumers, according to a new poll of over 1,000 adults conducted by Ipsos Public Affairs on behalf of ABA.

The feature most likely to be seen as a good thing for consumers is prepaid cards’ ability to be used anywhere the card’s network brand (Visa, MasterCard, American Express, or Discover) is accepted. Seven in ten view this as a good thing, including 47% who feel this is a very good thing.

Another feature related to convenience—providing customers with the flexibility to shop online where checks and cash generally are not accepted—is also seen as being beneficial by about seven in ten (68%).

A solid majority (69%) of U.S. adults also like the cards’ fixed spending limit that help stop users from spending more than is on the card.

Other benefits Americans indicated were beneficial to consumers include:

• Offering customers another option to receive and use th…………………continues on ABA Banking Journal