Why Transfer To A Prepaid Debit Card

IF you already have a credit card, why would you consider applying for a prepaid debit card account? First, let’s discuss how prepaid debit cards differ from regular credit cards and the benefits that a debit card provides.

What are Prepaid Debit Cards?

As the name implies, debit cards are prepaid or paid in advance. Unlike a credit card- which gives you the option to charge purchases in your account and pay for them at a later time, a prepaid debit card doesn’t provide a credit line. Instead, it requires its holder to submit cash in his/her account. This fund will then be used to pay for the debit cardholder’s incoming charges.

Like regular credit cards, debit cards can be used as a method of payment in shops, supermarkets, gasoline stations, diners, boutiques, online stores, and anywhere else credit card payment is accepted. If your debit card carries a VISA or MasterCard logo, you can be sure that it will be accepted by almost all types of merchants and establishments.

PrePaid Debit Cards vs Checking Accounts

In the past, people who do not want to carry around cash issue checks as payment. Today, prepaid debit cards are undoubtedly taking the place of cash advance checks. Why? Well first, it’s easier to pay with a debit card than to issue a check. Second, you won’t have to open a checking account and go through with a complicated application process.

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