Prepaid Card Success Shows Consumer Ire at Banks
"Compared to my situation, I went through a lot of late fees with the credit cards, extra fees with the checking accounts," he told Pew. "I was paying monthly between $35 to $50 in fees compared to $3.99 that I pay for a maintenance fee to get a card."
Banks are moving fast to introduce their own prepaid cards to the marketplace, but the damage may have already been done in the eyes of consumers.
--By Brian O'Connell