Prepaid cards might look like a debit or credit card, but there are some important differences between them. Search or browse this list of common questions to learn more.
What is the difference between a debit card and a prepaid debit card?
Even though it’s called a debit card, a prepaid debit card is very different from a bank account debit card. A bank account debit card is linked to your checking account; a prepaid debit card is not. Instead, you pay.
What is a prepaid card?
A prepaid card is a card that you use to access money you have paid in advance. A prepaid card can refer to a number of different types of cards. For example, gift cards are prepaid cards that typically are.
If my prepaid card expires, do I lose my money?
If you have a prepaid debit card and the card expires while you still have money on it, you can request a replacement card to access the funds. The funds on a gift card will be good for at least.
How do I add money to my prepaid debit card?
You can usually add money to your prepaid debit card in several ways. You may be able to arrange for a paycheck or other regular payment to be directly deposited onto the card; you may also be able to transfer.
What are some of the main types of prepaid cards?
Most prepaid cards that have a network logo on them (Visa, MasterCard, American Express, or Discover) can be used at any location that accepts
that brand. These cards are called “open-loop” cards. If your prepaid card doesn’t have a network.
If my employer offers me a payroll card, do I have to accept it?
No. Your employer can’t require you to receive your wages on a payroll card. Your employer has to offer you at least one other alternative. For example, some employers will give you a choice between direct deposit into your bank.
What is the difference between a prepaid debit card and a credit card?
Even though a prepaid debit card may have a card network logo like Visa, MasterCard, American Express, or Discover on it, it is different from a credit card. When you use a credit card, you are borrowing money. When you.
How do I use a reload pack?
Select your reload pack and take it to the cashier. Tell him or her how much you would like to add to your reload pack. You give the cashier money – in some cases they will only accept cash –.
How do I avoid a monthly fee on my prepaid debit card?
Some prepaid debit cards have a monthly fee, and some cards are “pay as you go.” With a pay-as-you-go card there is no monthly fee, but a fee may be deducted from the balance on the card each time you.
Where can I use my prepaid card?
Most prepaid cards with a network logo (Visa, MasterCard, American Express, or Discover) can be used anywhere that brand is accepted: grocery stores, gas stations, hotels, online shopping, etc. However, some prepaid cards with a network logo can only be.Source: www.consumerfinance.gov