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The Kaiku Visa Prepaid Card is a reloadable prepaid debit card, not a credit card. It requires no credit check to get, and can be obtained by anyone over 18 with a Social Security number.
You can load the card with money in a variety of ways, online and off, and you can use the card anywhere Visa is accepted or to get cash at an ATM. You’ll end up paying a few fees with this card, including monthly and loading fees, but overall this card is one of the least expensive reloadable prepaid cards.
For People with
- Annual Fee: $0
- Interest Rate: N/A
Quick Card Facts
- No fees when you direct deposit $750/mo and use in-network ATMs
- Notifications & mobile quicklook to monitor spending and alert you of fraud
- Ingo mobile check loading with the Kaiku mobile app
- 6 eye-catching colors to reflect your style
- Use everywhere Visa debit cards are accepted (Kaiku is Visa clear prepaid designated)
- No cost to apply and no minimum balance
You won’t earn any rewards, like points or cash back, for using this card.
This card is designed to give people the convenience of using plastic instead of cash, along with the wide acceptance of Visa. Being an electronic product, It offers several advantages that cash can’t, such as:
- The ability to pay bills online
- Transfering money to other Kaiku cards and other account types
- Zero-liability protection for unauthorized, fraudulent transactions with the card, provided by Visa
Cardholders can pick from 6 different colors, each of which has a close-up picture of wood for a background:
|Artsy White||Jurassic Amber||Grizzly Brown|
|Unicorn Pink||Shark Bite Teal||Ninja Black|
Up to 3 additional cards can be obtained for free for use by other people.
The Kaiku Card can be loaded with funds in several different ways:
- Taking a snapshot of a check with the Kaiku mobile app for Android or iPhone
- Direct deposit from your paycheck
- Transfer from Paypal and Amazon
- Visa Readylink locations
- MoneyGram locations
- Card-to-card transfers
Cash can be withdrawn for no charge from ATM and POS (Point-Of-Sale) devices that are within the Kaiku network, of which there are about 55,000. You can find them by looking for the following acceptance logos:
You can find in-network ATM’s near you through Kaiku’s ATM locator. There are 12 locations within 5 miles of me, including gas stations, Targets, and Walmarts. The fees for non-network ATM withdrawals are described below.
The Costs and Fees
Any card fees charged will be automatically withdrawn from your account balance. If your balance becomes negative for any reason, your card account will be closed if your balance is not repaired within 120 days.
This is a snapshot of the most important fees; you can find a complete table of fees and limits by clicking here and scrolling all the way to the bottom of the page.
|Card Purchase||Card Activation||Monthly Maintenance||In-Network ATM Withdrawal||Out-of-Network ATM Withdrawal||Cash Value Load Fee at Participating Retailers|
|$0||$0||$3||$0||$1.45 plus any additional ATM-specific fees||$2.95 – $4.95|
|Over-the-Counter Cash Withdrawal||International Currency Conversion||Card Replacement||Online Bill Payment||Mobile Deposit (standard)||Mobile Deposit (expedited)|
|Varies||$0||$0||$0||$0||1% or 4%; $5 minimum
(varies by check type)
Card Load Limits
|Minimum Cash Load Value||Maximum Cash Load per Day||Maximum Bank Transfer Load per Day||Maximum Load Value per 30 Days||Maximum Number of Loads per 30 days|
Usage and Spending Limits
|Spending Limit per Single Transaction||Total Spend Limit per Day||ATM Withdrawal Limit per Day||Over-the-Counter Cash Withdrawal Limit per Day||Card-to-Card Transfer Limit per Day||Card-to-Card Transfer Limit per 30 days|
The Bottom Line
The Kaiku Visa Prepaid Card provides an alternative to credit cards. It’s much easier to get, but keep in mind that this card will not help you improve your credit score. It is basically a cash-equivalent product, but, unlike cash, if fraudulent purchases are made with the Kaiku Card, Visa will limit your personal liability to pay. If you lose cash, there is no saving grace.
The Kaiku Card has many features that debit cards issued by banks also have. When considering if the Kaiku card is right for you, compare it to the regular debit card you can get from your bank. Does the Kaiku card offer you any advantages that the debit card doesn’t? Is the fact that it’s a Visa important to you? (Many debit cards issued by banks are also Visa cards) Have you checked the availability of in-network ATM’s near you, so you can avoid paying high ATM fees?
Consider the monthly fee, and how you will end up loading funds. Doing so through direct deposit will be much cheaper than at a cash register. Add up all of the fees you expect to pay, and ask yourself: is this one of the least costly ways to manage my money?
If you didn’t like the look of the costs of this card, take a look at another popular prepaid debit card, the American Express Serve card. It has an even lower (or non-existent) monthly fee, and in-network cash loads are free.
How do you use your prepaid debit card? Do you prefer it over credit cards? Why or why not? Let us know in the comments below!