Discount retailer Target has teamed up with American Express to offer a prepaid debit card option that comes with no monthly or maintenance fees, but does have some ATM and loading fees. The card is available at more than 1,000 Target stores and must be initially loaded with funds at a store cash register, according to an AmEx press release.

The American Express for Target card was created to offer consumers another payment option. The debit card can be used at:

  • Any store where American Express is accepted
  • At ATMs that accept American Express
  • For online payments where American Express is an option

Once established and loaded at a Target store, the card can be reloaded at the store, over the phone or online. The card allows online tracking of account usage, alerts for low funds and other account changes, has no monthly fees or traditional credit card charges such as interest since the card's balance is consumer funded.

The card offers benefits other American Express credit cards offer, such as purchase protection and American Express Selects rewards. The Selects rewards program allows credit card holders to access discounts on dining, travel, shopping and services from American Express merchants.

There is a $3 charge for the first ATM use per month. Other fees associated with the debit card include a $3 first-time loading fee and a $3 fee anytime the card is reloaded at a Target store; reloading the debit card online or over the phone does not incur a charge. The maximum balance that can be loaded onto a card is $2,500 and no more than two cards can registered to a person at any time. The initial loading amount may not be more than $500. Full details are available at