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Chime vs Bluebird Prepaid Card

By Gisele Goes
November 7, 2019

In this day and age, people are always looking for convenient ways to handle their finances. Cashless payment methods have become the trend as most people are tired of bringing cash with them every time they go out. Bringing a card instead of cash definitely lessens the bulkiness of a wallet. Additionally, cards can easily be managed online or via a mobile app. The two most popular types of cards are debit cards and prepaid cards.

What is the difference between debit cards and prepaid cards?

The most important difference between the two is that a debit card is linked to a bank account while a prepaid card is not. All transactions made with a debit card will be deducted from the balance of the linked account. On the other hand, transactions made with a prepaid card will be deducted from the remaining balance loaded on the card itself. A prepaid card needs to be reloaded with money first before it can be used. 

Another significant difference is that debit cards are typically issued free of charge upon opening a bank account while a prepaid card needs to be independently purchased. 

Comparing Chime Visa Debit Card to Bluebird American Express Prepaid Card

In order to better understand the difference between a debit card and a prepaid, let us compare the Chime Visa Debit Card and Bluebird American Express Prepaid Card. Chime is an example of a modern online bank account that offers all the functions of a traditional bank, including a free Visa Debit Card. Bluebird is a prepaid card service with some online card management features. It can be accessed online or at Walmart store locations.

Let’s take a closer look at how the two compare.

Fees

Chime has no hidden banking fees that will add up in the long run. It has no minimum balance fees, monthly maintenance fees, foreign transaction fees, and no overdraft fees. It only charges when money is withdrawn from an out-of-network ATM.

Bluebird has no monthly fees or inactivity fees. There are also no ATM fees as long as transactions are made in the MoneyPass network. If withdrawing money from other ATMs, there is a $2.50 fee. The Bluebird Card can be purchased for free if registered online or by buying a starter kit with a temporary card for $5 at a Walmart store.

Direct Deposit

Chime offers early direct deposit in which members can get paid up to two days early straight to their checking or savings account.

Bluebird does offer an option to enroll for early direct deposit to receive pay earlier. 

Savings Account

With Chime, the Automatic Savings features allow members to save when spending and save when getting paid. 

  • For every transaction, it will round up to the nearest dollar and transfer it from the Spending Account to the Automatic Savings Account app.
  • For every paycheck deposited, it will automatically transfer a percentage to the Savings Account

Bluebird has the SetAside Accounts feature that allows the user to put money away for future needs.

Mobile App

Chime has an award-winning app that allows members to keep track of their balance and spending, bill payments, send and receive checks, and send money to family and friends.

The Bluebird app allows users to view balance, transaction history, and cash checks.

Security

Chime offers security features that protect the user’s money. 

  • Deposits up to $250,000 are insured through Chime’s partner, The Bancorp Bank, Member FDIC
  • Instant notifications for every transaction
  • Debit card is protected by the Visa Zero Liability Policy
  • Mobile app requires two-factor authentication and fingerprint authentication

Since Bluebird operates under American Express, it provides Purchase Protection and Fraud Protection to its members.

Conclusion

While Chime Debit Card and Bluebird Prepaid Card have similar functions, Chime is a much better option. The Visa debit card is more widely accepted by most merchants than the Bluebird American Express. Also,  Chime is more affordable and more convenient for those who want to save and grow their money. Being linked to a bank account also helps the debit card to have more benefits and have more security. Chime is the overall better choice when it comes to managing personal finances

Banking services provided by The Bancorp Bank or Stride Bank, N.A., Members FDIC. The Chime Visa® Debit Card is issued by The Bancorp Bank or Stride Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted. The Chime Visa® Credit Builder Card is issued by Stride Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. Please see back of your Card for its issuing bank.

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