Post
Topic
Board Trading Discussion
Re: Cheapest pre paid debit card for USD? OKPAY too expensive
by
TangibleCryptography
on 10/08/2012, 15:17:21 UTC
I believe you can pick up a prepaid debit card (e.g., $5) at retail (e.g., convenience stores, drugstores, Walmart, etc) which can be loaded with Moneypak up to $500 USD (without registering it).  So the total for fees then is about $10.  For $500 that's about a 2% fee.  

To avoid some confusion there are non-reloadable prepaid cards.  These don't use moneypaks.  You simply buy one for face value plus ~$5.   $505 for $500 card.  You can use it until funds run out and then throw it away.

There are also reloadable cards however you can't add a MP to a reloadable card until it is registered and registration requires KYC information (name, address, SSN, etc) and are only available for US residents.  You load them with an initial load of $500 plus ~$5 card fee at the time of purchase.  In this respect they operate the same as non-reloadable cards.  However if one doesn't intend to register the card they provide no advantage over just using a non-reloadable (essentially they are non-reloadable until registered).   

You can thank KYC, AML, Patriot act for all this nonsense.