02/01/2012 11:43 am ET

Why Most Prepaid Debit Cards Are Pretty Bad

Anisha Sekar of Nerdwallet has officially launched a comparison tool which allows you to work out which prepaid debit card might be best for you — and, crucially, allows you to compare the cost of a prepaid debit card to the cost of a bank account. Nerdwallet has run the numbers about as many ways as is humanly possible, and has come to the empirical conclusion that it “is very rarely the case” that prepaid debit is cheaper than checking.

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