CBS News Business and Economics Correspondent Rebecca Jarvis reported on "The Early Show" Wednesday these cards are great for some consumers with specific needs. She said people with no access to a bank account and consumers who need a source of debit with no minimum balance required may find these debit cards useful.
However, many of these prepaid debit cards carry heavy hidden fees and other issues that you might not think about when you initially invest.
Jarvis discussed a number of common fees, such as activation and cash withdrawal charges, often incurred on prepaid debit cards and also offered advice on how to avoid them. Click on the video below for her full report.