The application of pre-paid cash card for consumers

Prepaid cash cards are a recent phenomenon. However, more and more people are using it. It is like a credit or debit card, and gives users the ability to purchase products and service with a card but with a crucial difference. Users can only spend the balance that has been preloaded onto the card. This means that there is no risk of running into debt as it has no credit or overdraft facility.
Money can be loaded onto a prepaid card by cash at bank, post office, Pay Point Terminal, bank transfer or even by another credit card. Applying for a prepaid credit or debit card is an extremely simple process, because it does not involve a credit search or any kind because you are not being offered credit. The application is quick and painless. Some of the prepaid card does not require that you be 18 years old in order to be approved for a card, which is a greater way to teach teenagers how to manage their finance properly. MasterCard and Maestro prepaid cards are available through participating financial institutions are retailers. People can apply it as well.

When using for purchasing at a high street store or shopping market, they work in exactly the same way as a credit or debit card. You can hand the cashier. You will be asked to enter your PIN numbers which supplied wit the card on an electronic keypad or to sign a payment slip so that your signature can be matched with that on the back of the card if there is no chip on the card. The total amount will be taken from your card immediately and the transaction is complete.

Prepaid cash card can also be used to shop online. You click on items which you want to buy then click on the website’s “checkout” page before filling in your details and those of your prepaid card. As long as you have enough cash loaded on your card. The website checks it by the usual means of the authorization, then purchase is completed and your item will be shipped to you. Moreover, the prepaid card can be used to buy groceries and petrol, paying bills, withdrawing cash from at ATM, topping up your mobile phone, as a replacement for travelers cheques or travel cash for a low cost alternative to paying for goods and services aboard, and many others.
A prepaid cash card is good to use because there is no debt risk. With a prepaid card, users are no chance of spending too much as you are limited to the amount you put on your card. Prepaid card are an ideal way to budget for yourself or help to manage your children spending. There are some benefits for using Visa prepaid card at http://www.corporate.visa.com/pd/consumer_products/prepaid.jsp