Also referred to as general purpose reloadable cards, reloadable prepaid cards have become quite popular and massive through the years. In fact, they are becoming more and more popular thanks to the enticing and exciting benefits they offer. Unlike other plastic cards, they are not linked to any checking or savings account.
That said, reloadable prepaid cards are deemed safer compared to other plastic cards. What users love reloadable prepaid cards all the more is they can be easily obtained. In other words, you don’t have to go through all the hassles of submitting financial documents or filling out countless forms just to obtain one.
In addition, reloadable prepaid cards offer peerless and unbeatable features that are to miss. No wonder many people consider them as the ultimate plastic card. Since they can also be used for various purposes, you won’t have to carry other plastic cards if you already have a reloadable prepaid card with you.
However, while the popularity of reloadable prepaid cards have grown massively over the years (and has not shown any signs of slowing down), not many cardholders don’t know their reloadable prepaid cards that well yet. Case in point: not everyone knows there are also international prepaid cards that frequent travelers carry with them abroad.
Unlike the usual prepaid cards that are designed for local use, international prepaid cards come with a few other features that are great for those who frequent other countries, be it for business or pleasure. The importance of knowing all the reloadable prepaid card basics cannot be overemphasized.
After all, you won’t be able to fully enjoy all the enticing and exciting features the card offers if you don’t know how to use it accordingly. To help you make the most of your reloadable prepaid card, here are all the basics you need to know:
Reloadable prepaid cards can be used for ATM withdrawals.
This is something not many people know. But yes, you can withdraw money from associated ATMs using your prepaid card. Since most prepaid cards are compatible with several ATM networks, withdrawing money is a breeze.
It is also ideal that you know your daily spending limit (if there are any) so you can easily plan your online purchases and ATM withdrawals. Check with your issuer regarding your daily spending limit. You can also check out their website for other important instructions and essentials.
Reloadable prepaid cards are accepted by several establishments and merchants.
This is great news for people who want to use their prepaid cards in different establishments like boutiques, restaurants, and department stores. What is even more amazing is that this great financial tool can also be used for transactions online.
This means you will be spared from leaving the comforts of your office and home just to purchase what you want. All you need to do is ensure you have enough balance available on your prepaid card so you can use it to purchase any item you want.
Reloadable prepaid cards have charges/fees.
Since prepaid cards are not linked to checking or savings accounts, most people assume using the card is free of charge. However, reloadable prepaid cards have fees and charges (although it is minimal compared to most).
You also need to also be aware of the fees and charges so you know if the deductions are correct. It is also recommended that you check with your reloadable prepaid card provider for the fees and charges for transactions you will make.
If the issuer has a website, make sure you check it out so you will know the accurate charges as well as the other basics you need to know when using your card.