KAIKU Visa Prepaid Card
Things We Like
Things We Dislike
KAIKU Visa Prepaid Card sounds different from other cards, and, in many ways, it works differently, too. Like most others, it offers free direct deposit and mobile banking services. Unlike some, its monthly maintenance fee is inescapable. However, the fee is low ($1.95), and there is no charge for transactions or in-network ATM withdrawals. The latter is a huge deal: Many prepaid cards levy both a charge for ATM withdrawals plus any surcharge imposed by the ATM owner. You can go online and enter a ZIP code to find the nearest surcharge-free ATMs. There is a 95-cent ATM decline fee, but with free ATM inquiries (and mobile access), you shouldn’t have to pay it. (There are fees for out-of-network ATM inquiries and withdrawals; it pays to stay within the network.)
The black card is free; if you want a card that features an Angry Birds design, you’ll pay $3.95. Government benefit payments and tax refunds may be loaded directly onto the cards, which are FDIC-insured. Reloading is free with direct deposit; cards may be reloaded at MoneyGram or Visa ReadyLink locations, typically for a fee of $3.95 or more. (It’s a good idea to check prices at reload locations near you; they vary.) You can get secondary cards, but be aware that secondary users have access to the entire balance on the card.
This card has 6 options for loading money, including direct deposit, PayPal, bank account, cash, other KAIKU card and from a check. When loading cash value load (retail location) there is a charge that varies from $2.95 – $4.95.
Bottom line: This card’s network of more than 50,000 fee-free ATMs gives it a leg up on the competition. It also offers the conveniences of most (electronic bill pay, guaranteed acceptance, free direct-deposit), and with low fees. If you live and/or work near Allpoint ATMs, this card is worth considering.