How Do Prepaid Cards Work?

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A prepaid card acts much the way a gift card would in that they allow you to spend money wherever accepted up to the amount stored on the card.

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A prepaid card is a type of payment card that can be loaded with money in advance and then used to purchase goods or services without incurring debt from the issuer.

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- ATM access: Some prepaid cards only allow in-network ATM withdrawals for free, meaning at the issuing bank or financial institution’s branch network.

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- Reload options: A prepaid card generally allows you to add money to your balance in multiple ways.

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- Card limits: Many cards will either restrict how much you can withdraw from an ATM, spend or reload per day.

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- Consumer protections: One major advantage to a prepaid card over cash is the liability and fraud protection you have from federal law.

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- You don’t want to carry cash around - Prepaid debit cards can be used to make online purchases

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Swipe up TO READ more ABOUT How Do Prepaid Cards Work?

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How Do Prepaid Cards Work?

A prepaid card acts much the way a gift card would in that they allow you to spend money wherever accepted up to the amount stored on the card.

A prepaid card is a type of payment card that can be loaded with money in advance and then used to purchase goods or services without incurring debt from the issuer.

What is a Prepaid Card?

- ATM access: Some prepaid cards only allow in-network ATM withdrawals for free, meaning at the issuing bank or financial institution’s branch network.