You can often find prepaid debit cards at checkout lanes when you’re at the supermarket or at retailers like Walmart, typically next to gift cards. When you get a prepaid debit card in-store, you’ll often incur a card opening fee. As a cheaper alternative, opt to get a card online, which is often free.

When you decide that you no longer want your prepaid debit card, whether that's because you're opting for credit or traditional debit, you'll need to take some action. You can't just forget about the card because you could still incur monthly fees. In order to cancel a prepaid debit card, you'll first need to withdraw all of the money currently in your account. You can typically withdraw money at an ATM, through a transfer to another account or by requesting a check. Once your balance reaches $0, you can call your card issuer to cancel your account.

Most prepaid debit cards charge monthly maintenance fees that can be similar to checking account fees. But you may also pay a fee to open your prepaid debit card. You can also expect to incur an ATM fee, reload fee and foreign transaction fee with many prepaid debit cards.

While there's typically no minimum balance requirement, you could get stuck paying a monthly fee regardless of your balance. Make sure you're familiar with your card's terms of service and reach out directly to your card issuer for more information.