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What are the main benefits of a prepaid debit card?
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The main benefits of a prepaid debit card include convenience, security, and flexibility. Convenience is achieved through the ability to use the card at any location that accepts MasterCard or Visa debit cards, without having to worry about carrying cash. Security is enhanced as the funds are stored in an account that is protected by the FDIC up to $250,000 per depositor. Finally, flexibility is gained through the ability to load money onto the card for future spending, with no fees associated with doing so.