American Express launches Target prepaid card

NEW YORK — American Express has announced the launch of the American Express for Target card, a reloadable prepaid card with no monthly or maintenance fees, available exclusively at more than 1,000 U.S. Target stores.

“We’re excited to partner with Target to provide consumers with a safe and secure everyday payment tool. This prepaid reloadable card is loaded with benefits synonymous with American Express such as roadside assistance, purchase protection, and global assist,” said Stefan Happ, SVP and general manager of American Express’ global payment options. “In addition, it delivers premium value to consumers, with no fees for monthly usage, balance inquiries, alerts or card replacement.”

The card is available at participating Target stores and funds can be loaded at the register using multiple loading options with the ability to reload in-store, online or by phone, according to American Express.

The card is an initial $3 load fee and costs and additional $3 for each subsequent in-store reload at participating Target stores. The first ATM withdrawal per month is free, while the rest are subject to a $3 fee (a separate ATM fee by the ATM owner may apply). There is no fee for monthly usage, balance inquiries, alerts or card replacement, American Express said, and funds do not expire.