Prepaid Cards are an alternative to carrying money about. Funds are been deposited in prepaid cards when they are newly acquired and subsequently topped up when the funds are been exhausted. Therefore, it is pay before. The cards are also used to buy online because they are have no credit cards. The cards are good for budgeting and also helps in reducing spending.
The prepaid card program works in a very simple and easy to understand ways. The moment you get the card, you decide the amount of money you want on it. Although, it comes with an higher limit of how much you can have on it. And as you spend the money day-to-day, you need to top it up from a bank account, which could be through sms, phone call, or visiting a Paypoint.
Co-branded prepaid cards on the other hand are designed for businesses and partnering companies for their customers. The cards carries the partnering retailers and the issuing company logo.
A prepaid card could also be provided through a third party who makes deposit on the card after the suppose card holder must have presented the deposit receipt to the third party provider. Having a prepaid card does no necessarily means that one must have a bank account.
Types of Prepaid Cards There are various types of prepaid cards and they are designed for the different uses and demands of customers. The major types include: Travel prepaid card: This is used prior to traveling to a foreign country. They can be loaded in foreign currency Business prepaid cards: They are designed for employees to limit their spending.
Travel prepaid card: Used when traveling to another country. Foreign currency can be deposited on it. Business prepaid card: Made for employees to curtail their spending. Government prepaid card: Used for the affairs of the government such as paying for insurance, paying payroll, and other kinds of disbursement.
Foreign prepaid card: This card carries one or multiple foreign currency. Student prepaid card: Often pre-loaded by an adult and given to a student to enable him/her spend from the card.
Payroll prepaid card: Given by an employer to an employee. It is used in paying employee salary i.e paycheck is paid directly on the card.
In addition, having a prepaid card enables the card holder to buy directly from online stores. They can also make order in person or via phone call or from the internet. The prepaid card has a corresponding 14-16 digit number which is required when making order or a non-appearance purchase. The card enables users to set their spending limit. Card holder needs not worry about running into debt as the card does not have a credit check.
In conclusion, co-branded prepaid card is a means to advertise one's business to the outside world. Using a prepaid card is all about convenience.
The prepaid card program works in a very simple and easy to understand ways. The moment you get the card, you decide the amount of money you want on it. Although, it comes with an higher limit of how much you can have on it. And as you spend the money day-to-day, you need to top it up from a bank account, which could be through sms, phone call, or visiting a Paypoint.
Co-branded prepaid cards on the other hand are designed for businesses and partnering companies for their customers. The cards carries the partnering retailers and the issuing company logo.
A prepaid card could also be provided through a third party who makes deposit on the card after the suppose card holder must have presented the deposit receipt to the third party provider. Having a prepaid card does no necessarily means that one must have a bank account.
Types of Prepaid Cards There are various types of prepaid cards and they are designed for the different uses and demands of customers. The major types include: Travel prepaid card: This is used prior to traveling to a foreign country. They can be loaded in foreign currency Business prepaid cards: They are designed for employees to limit their spending.
Travel prepaid card: Used when traveling to another country. Foreign currency can be deposited on it. Business prepaid card: Made for employees to curtail their spending. Government prepaid card: Used for the affairs of the government such as paying for insurance, paying payroll, and other kinds of disbursement.
Foreign prepaid card: This card carries one or multiple foreign currency. Student prepaid card: Often pre-loaded by an adult and given to a student to enable him/her spend from the card.
Payroll prepaid card: Given by an employer to an employee. It is used in paying employee salary i.e paycheck is paid directly on the card.
In addition, having a prepaid card enables the card holder to buy directly from online stores. They can also make order in person or via phone call or from the internet. The prepaid card has a corresponding 14-16 digit number which is required when making order or a non-appearance purchase. The card enables users to set their spending limit. Card holder needs not worry about running into debt as the card does not have a credit check.
In conclusion, co-branded prepaid card is a means to advertise one's business to the outside world. Using a prepaid card is all about convenience.
About the Author:
The author likes to provide information to co-branded card programs and is passionate to helping people and businesses embrace the opportunities in the world of payments with prepaid credit cards.
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