Not all prepaid debit cards are created equal

LUTZ, Florida - When Mark Nash wanted a card that wouldn't send his personal information over cyberspace when making online purchases, he bought a prepaid debit card from Walmart. But, when he went to use it, most vendors turned him away.

"I tried online, eBay, locally - nobody accepted it," said Nash.

And when Nash went to get his money back, he was surprised to see all the fees he had to pay.

The New York Times recently analyzed prepaid debit cards and found Walmart's to be one of the best deals around. However, it has a $3 activation fee, a $3 recharge fee, and $3/month in maintenance fees.

Depending on the card, you can also be charged fees every time you make a purchase, pay a bill, or check your balance.

Credit specialist Laurie Zoock says prepaid debit cards make sense for those who don't have a checking or savings account - up to 80 million Americans, by some estimates - but they can come with some strings attached.

"If you don't realize all the fees you're getting hit with, it can be a real eye-opener," said Zoock.

A Walmart spokesperson touted the New York Times rating and added, "the Wal-Mart Money Card is a great product for people who have elected out of banks or for those who cannot get checking accounts."

For last-minute shoppers looking to give someone a prepaid card for Christmas, the word "debit" on the card means its not a real gift card and could come with extra fees. And always read the fine print.