Prepaid cards build good credit habits, prevent future debt
Bank Freedom has announced a new partnership with MoneyGram to provide prepaid debit card users with the opportunity to reload their cards at more locations. Bank Freedom, a prepaid debit card provider, has 1.6 million users. MoneyGram has 40,000 locations around the world that card holders will now be able to visit to add money to their accounts for a fee of $3.95.
“Our customer demographic is very cost conscious and MoneyGram offers a safe, secure, and reliable cash load network at an affordable price. We are excited to offer all our cardholders this valuable cash loading service,” stated Rick Galasieski, senior vice president of Bank Freedom and Prepaid Card Holdings, Inc. “With MoneyGram’s 40,000 plus nationwide agent locations our customers can easily find a location near them.”
Prepaid debit cards allow users to spend money from a set balance. They are a way to adopt responsible spending habits leading up to owning a credit card. Consumers who use debit cards can learn valuable money management skills that can prevent credit card debt in the future.