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The dangers of prepaid debit cards

Some consumers are considering dumping their bank and instead using prepaid debit cards as an alternative to a traditional checking account. The reasons for doing so vary, but convenience and a desire to control spending are among the top motivators. However, the decision to embrace prepaid debit cards can be fraught with danger, according to Nikiforos T. Laopodis, associate professor of finance at Fairfield University’s Dolan School of Business in Connecticut.

Published on Fox Business News website; Bankrate.com on 5/1/13

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