Do you know what a prepaid bank card is? , How does it work? In this post we will answer these questions, and you will be able to learn more about this important means of payment, which will be very useful to control your expenses and to make purchases on the internet.
Prepaid Bank Cards: What are they?
The prepaid credit cards are those in which the user an amount of money and as the card is used loads, are consumed funds, either through cash withdrawals at ATMs or by making purchases with the card in permitted stores.
These work in the same way as a debit card , but instead of withdrawing the funds from the savings account, the money previously deposited on the card is used.
They are used mainly in purchases of small amounts in commercial establishments or also through the internet.
Prepaid Bank Cards: Features
Among the main characteristics of prepaid bank cards we can find:
- You can make purchases in the associated commercial establishments.
- With this card you will be able to control spending in an exhaustive way, having a limited use due to the load of money on the card.
- It is possible to check the balance and movements made through the user account.
- It allows you to recharge your balance once it has been used up and have it available immediately.
- In some cases it is possible to withdraw cash at ATMs.
- It can be used to make purchases online.
Prepaid Bank Cards: Advantages
Among the advantages of prepaid bank cards we find:
- They allow you to maintain control over its use, since it can only be used until the money that has been previously recharged is spent. And it can be reloaded as many times as desired.
- Make purchases online safely, without using a credit or debit card.
- They help streamline cash payments without the need to carry cash with you.
- They can be used to control the expenses of the children, making sure that they have money but limited to an amount established by the parents.
Prepaid Bank Cards: Recommendations
Some recommendations to keep in mind with prepaid bank cards are:
- Use it to keep track of expenses, taking advantage of its main characteristic, which is that after the funds run out, it is not possible to continue using it, unless you decide to recharge again.
- It is important that you pay attention to the charges, since many of these cards charge a monthly handling fee, with the exception of some that, from a minimum of funds, eliminate that commission.
- It is advisable that you review your information and the movements of this card through the card’s website, using the password you gave when activating it.