Discover Prepaid Card Reviews | 069worldinfo

Discover Bank is one of the first banks that have taken the initiative to introduce a debit card that is specifically designed for teens. This card, which is called Current by Discover, has since become the leading teen prepaid debit card in the market. It has many popular features, such as the range of parental control and other user-friendly features. Although this card is no longer available for new applicants or account holders, it is still in service for those lucky existing cardholders. While no reason has been given about why no new applicants are being accepted, it has been speculated that a new and improved version is currently being worked on and will be released in the near future.

Current by Discover Prepaid Debit Card Overview:

The Current Card is considered a better alternative option than a credit card for several reasons. As everything has been predetermined in the Current card, there is no longer a need for arguments between parents and their children over budget matters. The parents do not have to be overly cautious or worried, as in the case when they provide their kids with a credit card, because they can control the amount the kids spend with the Current card. After all, the parents can choose to deposit a certain amount of money, while assigning the appropriate parental controls.

The Discover Current Limits The Amount Your Kid Can Spend:

One benefit about prepaid debit cards is that cardholder will never have to worry about exceeding the preset limit. The cardholder can only spend the amount of money that is present in the account, which is why parents do not have to worry about the kids’ overspending. Moreover, parents can impose a certain amount of money that can be spent in one day or designate the stores and places (e.g. liquor and tobacco stores, bars, hotels, clubs) where the card should not be accepted. Parents can also adjust these limits over time.

Discover Current Prepaid Card Features:

These prepaid debit cards also have the completely free direct deposit features, which is a great way to save money. Direct deposit is the ability to have money deposited or withdrawn from your account electronically or over the internet without having to pay any service charges. Since both accounts will be linked, it is the parent’s account that has the free direct deposit feature. This is a great benefit, as most account holders do not realize that over the span of a year, without the free deposit features, they can be charged hundreds of dollars for no apparent reason.

Discover Card Balance Limits & ATM Access:

As there is no minimum balance, credit check or loading fees required for this card, there is a maximum limit of $2500. Since this is a prepaid card especially for teenagers, banks have taken extra safety precautions to prevent them from holding too large an amount.

Moreover, the Current card also allows the cardholder to withdraw cash from any ATM that accepts the Discover cards, which means that you will always have cash available for emergencies. In addition, unlike other bank accounts or card services, cardholders of the Current Card by Discover do not have to pay for SMS, mobile and online banking services. There are also no fees for card activation, signature transactions, PIN transactions, and bill payments.

Discover Current Prepaid Debit Card Fees & Mobile Banking:

However, there is a $5 monthly service fee and $2.50 charge for withdrawals and checking the account balance through an ATM, which is why most people do not usually use this debit card for withdrawal purposes. Nonetheless, the cardholder’s banking needs can be fulfilled through the free SMS, mobile and online banking options.

As mentioned earlier, if you are interested in this card, you will have to wait until the card providers introduce a new version.