Prepaid Debit Card

By: EconomyWatch   Date: 6 October 2010

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A prepaid debit card is a reloadable debit card which allows the the card holder to spend only to the extent of the amount of cash pre deposited in the account. The primary requisite in using a prepaid debit card is one should fill cash into the prepaid debit card.

The process of filling cash into a prepaid debit card is the same as filling ones prepaid mobile card. In order to use a prepaid debit card there should be sufficient balance in the account.

This saves an individual from getting into debt because the individual is using his own money.

The prepaid debit card can be used for various purposes as follows:
  • Paying bills.
  • Drawing money from the ATM.
  • Shopping online.
  • For reserving railway, airlines tickets and hotel reservations.
  • Buying essential commodities.
  • Transferring money from one place to another.
  • Filling money in the mobile.

    The prepaid debit card has some benefits which can be enumerated as:
  • One can easily get hold of a prepaid debit card if he wishes to.

  • While carrying out transactions online if one is cheated the individual can get his money back.

  • It is much more safe to carry a plastic prepaid debit card than carrying money.

  • The transactions carried out by one can be easily monitored. This is because a detailed step by step statement is generated. So one can keep a check while using his prepaid debit card.

  • There is no risk of falling into the debt trap. The prepaid debit card can be used only as long as there is cash in the bank. It's functioning can be compared to the usage of a prepaid mobile card. One can make calls only as long there is balance of talk time.

  • One can travel to different places without the need to carry money with him.

    The reason being the prepaid debit card is network friendly and can be accessed anywhere, in any country. Only the logos need to match.


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