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Prepaid vs. check cashers and money orders

Still not convinced that prepaid is the way to go? Think it's cheaper to cash checks and pay with cash? Take a look at the chart below to see how much you could save with a Capital One® Prepaid MasterCard compared to using check cashers and money orders.

For our complete list of fees, refer to our fee schedule.

Monthly Activities Using Cash Capital One Prepaid
Cashing checks

2 - $750 checks vs. direct deposit

 $28.50 $0.00
Pay phone bill
 $0.93 (money order and stamp) $0.00 (over phone or online)
Pay power bill
 $0.93 (money order and stamp) $0.00 (over phone or online)
Pay water bill
 $0.93 (money order and stamp) $0.00 (over phone or online)
Pay rent
 $0.93 (money order and stamp) $1.00 (Capital One Bill Pay)
ATM withdrawal

1 withdrawal

 No ATM access $2.00
Maintenance Fee
 $0.00 $4.95
Monthly total
$32.22
$7.95
Potential Yearly Savings: $291.24
Sign Up  for your Capital One Prepaid MasterCard today!
MasterCard is a registered trademark of MasterCard International Incorporated.
Chart is for illustrative purposes only. Savings may vary. Costs are estimated from national comparison. Assumes check cashing fee of 1.9%, $.49 money order fee, $.42 stamp cost, $1 Capital One Bill Pay to an individual and $2 ATM withdrawal fee. Assumes payments for phone, power and water are made with the Capital One Prepaid card directly with the biller.
Benefits and features
  • Free direct deposit
  • Pay bills online or over the phone
  • No overlimit fees
  • MasterCard® Zero Liability
  • No credit check
Free Direct Deposit - Deposit your paychecks right onto your card - Learn More
How it works