PROS / The Kaiku smartphone app allows you to load checks onto your account.
CONS / There is no savings account or reward program with this debit card.
VERDICT / Kaiku has lower fees than other prepaid debit cards.
Kaiku is prepaid debit card that is co-branded with VISA and can be used anywhere a VISA debit card can be used. Kaiku is missing a few features but has a strong combination of low fees and excellent support, which is why we've given it the Top Ten Reviews Silver Award.
Fees & Charges
Of the reloadable debit cards we reviewed, Kaiku is the best in terms of extra fees and charges. It has a low monthly maintenance fee, which is waived if you add a certain amount to your account using direct deposit. Kaiku also doesn't charge fees for replacing your card or for receiving a paper statement.
Kaiku is a part of the Allpoint ATM network, which has over 55,000 charge-free terminals in the U.S., Canada, Mexico, Australia and the UK. There is a fee for using an out-of-network ATM, but even that fee is smaller than other prepaid debit cards. Be aware that these out-of-network ATMs may also charge their own fees. There is no currency-conversion fee on transactions done in another currency.
This card does not require a credit check to sign up, which is a common feature with the prepaid debit cards we reviewed. These are not credit cards and can't be used to improve poor credit. A prepaid debit card is an option for someone who is having trouble getting a checking account or for parents who want to give their children money to spend.
Kaiku's strongest feature is its smartphone app. This app is available for both iPhone and Android phones. You can monitor your balance and transactions with this app. You can also use the app to add checks to your account and pass money between two different Kaiku accounts. There is no savings account or rewards program. These are two features that other cards have that provide another benefit to using the card besides the functionality of being able to make purchases with it. The lack of these features doesn't make Kaiku a bad choice, and we still rated it well for the features it does have.
This prepaid debit card is reloadable in a variety of ways. You can have your paycheck or other government-issued check, such as a tax return, directly deposited into your Kaiku account. MoneyPak, bank transfers and PayPal are other methods you can use to add funds to your account. Some of these options may have their own costs that are independent of Kaiku.
Your Kaiku account has a maximum balance as well as limits to how much you can add to it through cash or direct deposits. There is also a cap on how much money you can withdraw from an ATM each day.
Help & Support
Kaiku's website has a helpful FAQs section that provides information about the basics of the card. Fees and a cardholder agreement are also posted online. You can also contact this company through email and over the phone if you want to learn more.
Of the prepaid debit cards we reviewed, Kaiku has the lowest fees. Kaiku is part of a large ATM network, so you can get access to your funds without having to pay any fees. Kaiku has strong customer service and support as well as a good smartphone app. It lacks a savings account or rewards program to help you stretch your dollar.