PNC Bank

Prepaid debit cards are multiplying faster than paper clips in a desk drawer.The amount of money loaded on general purpose reloadable prepaid debit cards almost tripled from 2008 to 2012, rising to $76.7 billion, according to data from the Mercator Advisory Group Inc. in Maynard, Mass. Mercator predicts that number will rise to $168.4 billion by 2015.For most consumers, free checking from a local bank or credit union is still the best bet, but Bankrate's 2013 Prepaid Debit Cards Survey shows prepaid debit cards are improving in their own right, says Greg McBride, CFA, Bankrate's senior financial analyst."In some respects, they are closing the gap relative to checking accounts. We've seen a continued decline in the availability of free checking accounts, and at the same time, we've seen an increase in prepaid card offers that just have one monthly fee, none of the other ancillary fees," McBride says.That certainty is a big draw for many consumers, McBride says."For that one monthly cost...

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