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So Are Prepaid Cards Safer than Banks

Published on 14 December 2016 in Multi - News by Raffick Marday

Are Prepaid Cards Safer than a Bank?

Turn on the news and read financial websites and you will notice an alarming trend. Bank failures are not only a trend but may look more of an epidemic. Due to financial situation or credit history of account holders, the banks no longer care for account holders. For this reason, many people are turning to prepaid visa cards. These cards are not only for damaged or no credit customers. Those who lost confidence in their bank are now lucky with the emergence of prepaid cards. It is indeed a haven for their money.

Applying for this card is as simple as A B C D. your credit history or current financial situation is no longer an issue. You simply need either your national identity card or passport number to apply. Some cards may require application fees while others won’t depending on the company’s requirements. But you may be required to load your card as soon as the process is over. A prepaid card looks exactly like any other and can be used anywhere in the world. You can use a prepaid card anywhere you see the logo displayed.

Many travelers and businessmen may prefer to use this card since you load it with the amount of money you want for that business trip. Just in case your money gets exhausted, you can preload again using ATM or any other outlet that offers loading services. You can also call your card issuer company and ask them to load your card. Many users prefer direct deposits since they are mostly free. Although there are other methods of loading your prepaid card, direct deposit is the best way. Prepaid cards come with other extra services such as free bill pay, balance alerts and notifications via phone and free direct deposits.
Prepaid Cards or Debit Cards
Parents can use prepaid cards to teach teenagers healthy spending habits and introduce them to the banking system. This card can be used by any family member. You can send your teenagers to the market for some shopping without any worry since the money in the card is limited depending on what it is for.

So Are Prepaid Cards Safer than Banks
These cards are available as Pay as you go, pay weekly, or monthly. For regular users, monthly prepaid cards provide the best returns since they charge a small amount of money. Some card providers may opt to charge a huge fee in order to provide a better service to card holders. With free and highly useful budgeting tools like BudgetMaster, card holders are more likely to benefit a lot. Clients are able to save as many pennies as possible.

The best thing about these cards is that you’re in a better position to control your spending. Many people prefer these cards. These cards can be used by anyone willing to control his money while traveling. It also helps you avoid buying impulse or unplanned goods. Due to the budgeted amount of money on the card, the user may not be able to purchase other unplanned stuff unless he/she loads the money onto the card again. Different companies offer different cards under different terms and conditions. It is your choice to chose the card of your choice.

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