What is a prepaid card?
February 4th, 2012 by admin
Most people have heard of and know the difference between a debit and a credit card but many still ask what is a prepaid card?
A prepaid card is usually a MasterCard or a Visa affiliated card which is pre-loaded with your own funds. Which you can then use wherever the payment method is accepted, including online, the high street and abroad.
A prepaid card is similar in ways to a gift card; however, a prepaid card is accepted everywhere you see the payment provider on the card is seen, and can be used internationally. They are the same as debit and credit cards, but without the credit function and no link to any other personal accounts.
Applying for a prepaid card is not like applying for a credit or debit card, as you don’t need to pass a credit check. If you suffer from bad credit or CCJs you can be confident to be allowed a prepaid card. However, like most financial products, you are still required to provide information that verifies your identity and address (for example a passport or driving licence).
So to recap, what is a prepaid card?
- Works in the same way as debit and credit cards when transacting
- You pre-load your own funds before use
- No credit check, only an identity check
- No link to personal accounts
- It has no credit facility
The CashCase Visa Prepaid Card also comes with some unique advantages such as the ability to hold multiple currencies, access to a discount voucher vault and YAP technology which allows you to check balances and send/receive money all through your mobile phone using SMS.
For more information about what is a prepaid card and how the CashCase Visa Prepaid Card can make your money go further please see our main website.
