Which are the best prepaid debit cards
Some Important Tips About The Card That You Must Know
Prepaid debit cards today have become a very common name because of the wide range of advantages associated with its use. Initially the cards were used by people suffering from bad credit scores and these were often associated with unemployed and the low income group people. The use of the debit cards have increased all the more today for people find it convenient to use.
Money can be sent to any individuals across the globe without using the interest bearing cards. The prepaid debit cards can be used like those of the credit cards wherever VISA or MasterCards are accepted. The card can also be used in ATMs for withdrawing money.
There in lies a basic difference between the credit cards and the debit cards. The credit cards offer line of credit which the card holder is required to pay back. The prepaid debit cards on the other hand remains loaded with specific amount of money that is paid on it. This in turn determines the limit of spending.
What about the Concerns Pertaining To Security?
The advancement of technology and increase in number of identity thefts has tightened the security like never before. The user can now send money or make purchases without revealing any personal details.
The debit cards are considered to be one of the best ways in which the overall spending can be kept under control. Since teens have the habit of indulging in overspending, parents can hand over to them a debit card loaded with a specified amount, beyond which they cannot spend. This is a great option for teens traveling for higher studies away from home.
The Prepaid debit cards can be used for sending money to others conveniently. Since sending of cash can be a risky affair it is not very suitable to send cash amounts. The debit cards today have replaced cheque and money orders which were used for sending money previously. After the receiving the prepaid card, all one needs to do is activate it. The debit card which is sent on a recurring basis can be reloaded from the senders own destination and the recipient will receive the amount on his/her card.
Choosing the right kind of card is extremely important. There are certain questions that you need to ask while booking a card, such as:
- The activation charges involved
- If the card can be reloaded online
- If any fees are charged while withdrawing money etc.
Money transfer has thus become so easy these days.