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BB&T is launching a prepaid card that costs slightly more per month than some competing products — but lacks many back-end fees that have caught the ire of advocacy groups.
February 16
BB&T (BBT) of Winston-Salem, N.C., has launched an account designed for teenagers that comes with a prepaid card, reloadable Visa card.
The LEAP account, which has a $3 monthly fee, can be a joint account between parents and their teenager. This allows parents to transfer funds between BB&T accounts and to monitor the account's balance, the bank said Monday.
The account also can be managed individually if the teenager is at least 18 years old.
Some banks have started offering prepaid card products as a way to increase revenue since these cards are exempt from caps on interchange fees. The $175 billion-asset BB&T
