Released: February 29, 2012

Help Desk FAQ

How do I close a prepaid card account?

Find out from your card issuer what the process for closing your prepaid card account is, whether there are any account closure fees, and how to avoid losing any of the funds remaining on the card. Look for this information on the cardholder website first. If you still have questions, contact customer service by whatever method is free.

Many cards charge a fee to close the account or to issue a check for the remaining card balance, or both. (Getting a check may also add another level of cost and inconvenience since you’ll have to cash or deposit the check somewhere.)

Your best bet may be to withdraw or use the remaining balance before closing the card. But make sure you know exactly what the remaining balance is first so that you don’t trigger a declined transaction or “overdraft” fee. If there is a fee for closing the account, leave just enough money on the card to cover it.

Be careful that you don’t close the account while there’s still a balance on it if you haven’t confirmed that the card issuer will issue a refund, or you could forfeit your remaining dollars.