Fees & Charges:  

Trade-offs of one fee for another are a fact of life with regard to prepaid credit cards. The EXACT MasterCard is one of those cards that eliminate the monthly service charge but makes up for it with individual transaction fees. For this reason, it’s very important to compare your own card usage patterns with a specific card’s fees to make the best selection for your unique requirements.

As mentioned in the introduction to this review, there’s no monthly service fee for the EXACT MasterCard. There are, however, individual fees for all purchase transactions. Choosing the credit option at the check stand will activate a $1.00 signature transaction fee while choosing the debit option will incur a $2.00 for the same purchase as a PIN transaction. Online bill paying also costs $1.00 per bill paid. Clearly these fees add up quickly and for anyone who would make enough transaction to add up to about $10 or more monthly, a card that has a monthly fee but lower or no transaction charges would make more sense. A steep $9.95 per month dormancy, or inactivity, fee is charged if the card isn’t used at least once in a 90-day period.

Making a cash withdrawal from an ATM costs $2.00 while making the same withdrawal from an agent cashier incurs a heftier $4.00 fee. There’s also a $1.00 charge if an ATM withdrawal is declined as well as a $ .50 fee if a purchase transaction is declined. Balance inquires cost $1.00 even if the inquiry request is declined.

As a prepaid card, monthly billing statements don’t exist but account status can be checked online without charge. If a customer chooses to request a paper statement, there will be a fee of $2.00. If a card is lost or stolen, the fee for replacing it is $4.95.