What prepaid debit cards let you overdraft?

Answered by Ricardo McCardle

There are several prepaid debit cards that allow you to overdraft, but one popular option is the ACE Elite™ Visa® Prepaid Debit Card. This card offers a $10 purchase cushion beyond your available balance, which means that if you make a purchase that exceeds your available funds by $10 or less, ACE will cover the transaction. However, it’s important to note that this is not a traditional overdraft facility like those offered by traditional bank accounts.

The $10 purchase cushion provided by the ACE Elite card is not free money. If you use this cushion, you are required to bring your account balance back to zero or positive within 24 hours. If you fail to do so, ACE will charge your account a $20 overdraft fee. This means that if you make a purchase that exceeds your available balance by more than $10, you will be responsible for paying the $20 fee in addition to repaying the amount you overdrafted.

It’s worth mentioning that overdraft fees can add up quickly and become quite costly. Therefore, it’s important to use the overdraft feature of prepaid debit cards responsibly and only when absolutely necessary. It’s always a good idea to keep track of your account balance and avoid overspending to prevent incurring overdraft fees.

In addition to the ACE Elite Visa Prepaid Debit Card, there are other prepaid debit cards that offer overdraft features. Some examples include the Netspend Visa Prepaid Card and the Chime Visa Debit Card. These cards may have their own specific terms and conditions regarding overdrafts, so it’s important to carefully read the terms and fees associated with each card before using the overdraft feature.

While prepaid debit cards can provide some flexibility with overdrafts, it’s important to use these features responsibly and be aware of the fees and terms associated with each card. It’s always a good idea to maintain a positive account balance and avoid relying on overdrafts whenever possible to avoid unnecessary fees and financial stress.