Visa cards

Published on 18 July 2012 by Raffick Marday

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What is a Visa prepaid cards?

It is another type of Visa payment card with a twist where you load the card with money before you spend it. Prepaid cards were specifically designed especially for teenagers and young people who wish to make it easier to budget or manage money and shop sensibly. Visa prepaid cards can be used everywhere that accepts Visa cards with  millions of locations worldwide.

How do Visa prepaid cards work?

Your visa prepaid card can be loaded with cash, your parents  or wages owed to you and some banks allow somebody else to load money onto the card too.

When you make a purchase with your Visa prepaid credit card, the amount you spend is deducted from the card balance. When the prepaid visa card balance is low of empty you can add money to the account card usually from their credit card, debit card or bank account. Or better still they can set it up so your allowance is loaded automatically on a regular basis.

Spending limits are set by you and if you are under 18 by you and your parents together.

Who can use my prepaid visa card?

Only you can use your prepaid visa card. When using your prepaid card to pay for something, you will be asked for your PIN or signature and if you are given a PIN you only have the number only you can use your card. remember to keep it safe.

How do I keep track of my balance?

Compare prepaid recommends that you check your balance on the internet or by phone and try to keep a record of what’s spent and added. By regularly tracking your spending, you will always know how much you’re spending and ensure you always have sufficient funds loaded to make a purchase.

Can I use my Visa prepaid card at an ATM?

If your bank offers the service, and you’re offered a PIN, you can use your Visa prepaid card to withdraw cash from Visa ATMs worldwide.

Is a Visa prepaid card safer than carrying cash?

When cash is lost, it’s gone forever. But if a Visa prepaid card or card number is ever lost or stolen, if you report it straight away, your bank can block the account so nobody can use it. As long as you haven’t been careless with your card or shared your PIN, then it can usually be replaced and the balance transferred.There might be a small admin fee for this. Banks that offer Visa prepaid cards all have their own guidelines on how they handle lost and stolen cards. Be sure to check terms and conditions when you apply.

The Visa prepaid cards are definitely one of the best solutions which can be used during shopping, for paying off bills and while traveling. The Visa cards can be easily reloaded from financial organizations or banks. Though the Visa prepaid cards are similar to the Visa debit and the Visa credit cards, these cannot be used beyond a particular limit. Only the deposited amount in the bank can be used and the card holder cannot spend anything beyond that amount.

The prepaid Visa cards more or less look similar to the credit cards which come along with a signature strip. There are also the card number and company logo inscribed on it.

There are many advantages associated with the use of Visa prepaid cards:

While you are traveling, you don’t have to carry traveler’s cheque or cash along with you. You can thus enjoy the tour while your mind is free from all sorts of concerns.
You can manage funds for different purposes. One of the prepaid cards Visa can be used for traveling the other cards can be used for dining, online shopping and making purchases from the local retail shop.

The young members of the family can be taught to manage their expenses. Since only the amount loaded in the card can be spent, parents need not worry about their child indulging in overspending. The available balance can be checked online.
Cash can be withdrawn from ATM machines very easily.

You can conveniently make mail ordering and telephone ordering simple.
The prepaid cards can be used as alternatives to the bank account of the user.

The monthly subscription charges, pending bills, can be paid using the card
There are no interests to be paid and also no credit checks before you avail of the card.

The user friendly prepaid Visa cards can be reloaded at any point of time. To limit your spending habits use of these kinds of Visa cards are highly recommended. The prepaid Visa cards which share similar features like the Visa credit and Visa debit cards are considered to be the most interesting financial products currently found in the market. The security features as well as the wide usage makes the Visa card such a preferred option among the users.

You can apply for the cards online as there is a number of service providing companies available online. Make sure you entail sufficient research and benefit from the best Visa deals.

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