PREPAID CARDS INFORMATION

Please find information on Prepaid Cards.

        

Below you will find straight forward FAQs and background information to Prepaid Cards.

Prepaid Cards - Making spending smarter

A prepaid card is now a smarter way of spending. with the prepaid card method you can still spend on a card if that's what you prefer, but you can only spend the actual value on the card. The prepaid card is loaded up with the selected value that you choose. We all know how easy it is to over spend and then be faced with a big bill at the end of the month, whereas with the prepaid card you can't do this as you control the spending.

Prepaid cards differ from your usual debit cards, as they are not linked to any particular accounts, these are managed by you, therefore you control what money is going onto the card. Lots of people are also using this to allow their children, the freedom to make financial decisions for themselves, without having to hand over your credit card. you can load this up with the chosen amount of funds so they can then have the freedom to spend.

Lots of people are opting for the prepaid card, as they are accepted in so many different places and are a more convenient way of paying for things as you are not carrying as much cash around. Therefore its safer also. Lots of people are wondering if there is a catch with regards to charges, monthly bills etc. There is no monthly bills with the prepaid card, therefore you are not tied into any contract or agreement with banks etc.

Why is the prepaid card the smarter way to spend?

Prepaid cards are now the smarter way to spend, allowing you to have the freedom of spending on a card but then not being faced with the large bill at the end of the month. as we all know this can cause major stress and worry, so the prepaid card is defiantly the way forward. Find below some benefits on the prepaid card and why people are choosing the smarter way to spend:

  • No credit check - when applying for a prepaid card no credit check is carried out as you are not tied into a account.
  • You can't build up any debt with the prepaid card as you control the funds and spending.
  • You as the prepaid card holder are in control of what you are spending, therefore you can only spend what's loaded on the card.
  • Prepaid cards are accepted in many different countries worldwide, therefore again it's a safer way of spending.
  • Teenagers and students are using prepaid cards more now as they are in control of their spending and also taking responsibility of financial decisions.

Lots of people are now switching to the prepaid card option, so that they can now monitor there spending as well as having the freedom to use the card in 100's of destinations worldwide.

Most prepaid cards are sponsored by visa or MasterCard, therefore where ever you see either of these signs you can use your prepaid card there. Also with the prepaid card you have the protection from visa or MasterCard, which again is a little piece of mind.

As with everything new, people have lots of questions they want answering before making the best choice for them. Here is a few of our frequently asked questions with regards to prepaid cards.

How can i check the balance on my prepaid card, if it's not linked to a bank account?

The balance of the card can be checked by calling the toll-free number on the card, or simply register your prepaid on with the providers website.

Is the prepaid card the same as a credit card?

No, the prepaid card is not the same as a credit card, this is because you control the spending and can only physically spend the money what is on the card and cannot go over this.

Are my purchases protected when paying with my prepaid card? Most purchases are protected when using the prepaid card, this does depend on the card provider though, so always check this.

Will i get charged when using the prepaid card?

Sometimes you will get charged a small fee for using the card this is normally something ranging from $2.00, but again this can vary on the card provider.

Choosing the right prepaid card for you

When choosing the right prepaid card for you, always remember what your plans for using the card are. If it is to pay for large purchases then you need to consider the charges when purchasing things, also remember is it as capped fee or does it depend on the amount being spent.

There is also a certain amount of people that are using the prepaid card as a saving method, this again is a good option especially if it's a holiday your saving for or simply just a little bit of extra cash. At least with the prepaid card you can monitor what's being spent and also not get left with a large bill at the end.

        


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