Prepaid cards are pay-as-you-go cards whose balance can be charged with cash money or other debit/credit cards.
Consumers may prefer to use a prepaid card because of any of these reasons:
- It does not require a bank or credit account
- It can be topped up with cash money
- You can top it up on a retail shop, not necessarily a bank
- Some of these prepaid card are anonymous, as they do not have any link to the purchaser
- It eases to conceal purchases to your main banks or to people/organizations that are authorised to access your bank accounts or cards
- If your card is robbed or scammed, the limit of stolen money would be the current card balance
- It helps you to control your expense limit, as it is not possible to get debts.
- You can borrow it to other people, and cash limit be specified.
This is a non-exhaustive list of prepaid cards providers:
Supported by PaySafe group (UK).
Supported by CaixaBank (Spain).