The Akimbo Prepaid Mastercard is a great budgeting tool that is free of fees and allows you to open multiple sub-accounts to help organize your finances. The Akimbo prepaid debit card also comes with free online banking features that helps you manage all your accounts and allocate your funds appropriately.
You can even set up monthly automatic payments from each of your accounts to pay separate bills and never risk running out of funds by charging all your bills to one account. There is also no monthly fee to maintain any of your accounts no matter how many you open and all reloads are free as well.
The catch with the Akimbo card is that you will always be charged a $1.98 ATM fee since the card is not affiliated with any major banking branch.
These fees can add up over time if you tend to withdraw cash from your account often.
Additionally, only the first two accounts you open with Akimbo will be free and you will need to pay a one-time fee of $4.95 to open any sub-accounts after that.
It is also important to keep in mind that if any of your accounts are dormant for more than 12 months, you will need to pay a $5.95 dormancy fee starting on the 13th month.
However, even with these small cons, the Akimbo is still one of the best prepaid cards for budgeting.
You can open multiple accounts for a low price and never have to pay for monthly maintenance fees, which is honestly a steal.