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RushCard is a prepaid debit card that can be a convenient alternative to a checking account. But, like many prepaid debit cards, you’ll pay for the convenience — and RushCard is more expensive than some of its competitors.
In 2017, RushCard’s parent company, UniRush, and its payment processor after a technology outage left tens of thousands of users locked out of their accounts, some for weeks. UniRush and RushCard are now owned by prepaid card issuer Green Dot.
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A prepaid debit card is a type of payment card that only lets you spend the money you load onto the card. They don’t help you build credit. Like a debit card, a prepaid card works at any merchant that accepts its payment network, such as Visa, Mastercard or American Express. It’s safer and more convenient than using cash. Usually the prepaid card has a mobile app to deposit checks and transfer money. Learn more on our guide to prepaid debit cards.
Unlike checking accounts, prepaid debit cards may lack some services such as free ATM or branch networks, checks, among others. If that doesn’t work for you, see our list of best checking accounts. Or, if you’ve struggled with banks before, check out second chance checking options.
Prepaid debit cards nearly always have FDIC insurance, which keeps your funds protected in case the issuer goes bankrupt. Only financial institutions can have FDIC insurance, so a prepaid card is either managed by a bank or by a prepaid card company that partners with a bank to offer that insurance. You must register your prepaid debit card with your name and other identification information in order to be eligible for FDIC insurance and other protections.