Prepaid Debits Cards
In the
past few years, prepaid debits cards have quickly become all the rage; in fact,
it seems as though no matter where you turn, advertisements are prominently
displaying all of the great benefits of using this new form of plastic. Turns
out, these advertisements aren't exaggerating: prepaid debits cards are a smart
and flexible alternative to using more traditional debits and credit cards.
There are numerous benefits of using prepaid debits cards, but let's look at five of the reasons you should have one of these cards in your wallet:
Control Your Spending
If you have trouble sticking to a budget and have a tendency to overspend, prepaid debits cards are a great tool for money management. Unlike your average credit card or bank card that allow you to overspend and rack up fees-as interest rates skyrocket and minimum payments increase-you only have access to the funds you put on your prepaid card. You can even set up your prepaid card account for recurring bill payments, and separate these from discretionary spending to better control your finances.
Get a
Prepaid Card Even If You Can't Get a Traditional Bank Account
Some people don't qualify for traditional bank accounts or don't have access to mainstream banking. Whether it is due to location, credit problems, income, or other issues, the inability to use traditional banking services is referred to as "underbanked." If this sounds like you, prepaid debits cards can help. You'll qualify for prepaid debits cards regardless of credit rating or income. You can deposit your paycheck directly on the card and use it anywhere credit cards are accepted.
Protect
Yourself During Travel
Carrying cash isn't the best option when you travel. You're also putting yourself at risk when you take your bank cards and credit cards with you-especially if they are lost or stolen. Prepaid debits cards are ideal for traveling because you only load the money you need for your trip. They're not connected to credit or bank accounts, so if they are lost or stolen you won't have to worry about losing all of the money in your account or someone charging thousands of dollars to your credit card. Plus, prepaid debits cards are often insured if they're lost or stolen so you can rest easier using your prepaid card on your vacation.
Prevent
Identity Theft
Identity theft continues to rise, especially as a result of credit card data being stolen. Many savvy consumers who are aware of identity theft risks avoid using their credit cards except in an emergency. While this is good practice, when you don't regularly use your credit cards and rarely check your balances, they become a perfect tool for identity thieves. A better strategy is to use prepaid debits cards as an emergency backup because its data and associated funds are much less accessible to thieves.
Teach
Teens about Financial Responsibility
Teens need to learn financial responsibility as early as possible. You can help them get started by allowing them to manage their money on prepaid debits cards. This not only helps you monitor their spending, but also gives them the opportunity to have a little financial freedom without the risks associated with using a traditional bank account or credit card.
These are
just a few of the reasons why prepaid debits cards is the best way to approach
money management. Whether you're a parent teaching your kids about spending or
you want to travel safely, prepaid debits cards offer you the flexibility,
affordability, and convenience that most banks and credit card companies simply
can't provide.
- World wide acceptability: Most free prepaid debits cards are accepted at locations and shopping outlets which display the logo of the debits card company. However there may be some places and shops where which your free prepaid debits cards may not be accepted. Make sure that you thoroughly know about the acceptability of the card in most of the locations you will be shopping or using the card.
- Convenience: prepaid debits cards are just as convenient to use as a credit card. You should however know if you can use the card for online shopping and purchasing items over the phone. You can read the fine print of the free prepaid debits cards company or find information from its website about the terms and conditions if any, of the usage of card online and for transactions over the phone.
- Value added services: Your free prepaid debits cards company should give you different value added services like sending your statements online or through the mail to your home or office. Some prepaid debits cards also notify you about the salary credited to your account, on your cell phone itself. Choose a debit card which can transfer funds from one debit card to the other without any problems. You can also choose a customized card where you can emboss your name or photo. Check with the debit card company if you have a certain amount for the customization.
- Insurance: Choose prepaid debits cards which gives you insurance against loss, theft or damage to the card. You should be reimbursed for any funds that are taken out of your bank or debit card account when the card is stolen.
- Terms
and conditions: Though it is stated that free prepaid debits cards do not
have any fees, you may be charged for things like card renewal or replacement
of the card lost or damaged. You may be also charged a certain fee if you
withdraw cash from the ATM for more than a certain number of times in day. Also free prepaid debits cards are offered as a corporate salary account by big
corporate companies to their employees.
After you leave the organization, the bank notifies you that the corporate account will be converted into a current account with your permission. You will be required to keep a minimum quarterly balance or so in your debit card account, otherwise you will be charged a certain amount of fee for non-maintenance of the minimum balance. You are also charged a transaction fee if you use the free prepaid debits cards to remove cash on your account from the ATM location of another debit card company or bank. Find out if the above conditions are attached with your free prepaid debits cards and to what extent you are liable.
The Best Prepaid Debits Cards
Pay your people quicker, easier and for
less
Low cost mass payout service allows you to transfer funds within minutes to over 200 countries
The Payoneer Prepaid Debits MasterCard® Card will transform the way you make payouts. Fully integrated with our mass payout services and supported in more than 200 countries, your payouts will be available for use by the payee within 2 hours! Once funds are available, payees can make purchases online, in stores, and at ATMs worldwide - wherever MasterCard is accepted!
Benefits of transferring funds with the Payoneer
Prepaid Debits MasterCard® card:
- Low cost payouts - reduce the time and money spent on transferring funds.
- Global coverage - supported in more than 200 countries, multiple currencies, with no bank account required.
- Safe and secure - prepaid card cannot be used without funds available, no overdraft fees.
- Quick - payees have access to cash in hand within 2 hours.
- Fully supported - multi-lingual customer support provided to your payees saves you time and money.
Prepaid Debits Cards