What is an ACE Elite prepaid card and how does it work?

The ACE Elite prepaid card is a financial tool that operates similarly to a traditional debit card but without the necessity of a checking account. Offered by ACE Cash Express, the card allows individuals to load funds onto it and make purchases or withdraw cash at ATMs. Users can reload the card through direct deposit, bank transfers, at ACE Cash Express locations, or by using cash reload networks. The card is widely accepted anywhere that accepts Visa debit cards. Additionally, it offers features like online account management, text alerts for transactions, and even a savings account option with a higher-than-average annual percentage yield (APY). There are fees associated with some transactions and activities, so users need to be aware of the cost structure to manage their card effectively.