Reload my Prepaid Card by Cheque Payment
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Top up by Cheque
Prepaid Cards that allow you to top up via cheque payment.
Prepaid cards are cards which can be preloaded and used to make a purchase at online or offline stores. They can be physical (in form of a plastic) or virtual (in form of numbers). This article focus on the plastic prepaid cards and how it can be funded through the cheque means.
For the purpose of completeness, we define a cheque as a document usually in the paper format used to order a bank to credit a given account with a specific sum of money.
How long does it take to fund a prepaid card with a Cheque?
It normally takes 5 working days to fund the prepaid card as the cheque needs to be clear at first. However, some can be earlier like 2 working days.
Where can you use prepaid cards?
You can use it just anywhere, be it shopping online, online gambling sites, business expenses trip, sending money to family and friends and much more.
How to check the status of the issued transaction?
· Login into your banking portal
· Input your required information
· Select the account you have issued the cheque with
· Input the cheque number and click on view
Cases of Unsuccessful transaction
There could be several reasons a transaction could fail, should this be the case, note that you would be duly notified by your bank and that you would not be charged for the failed transaction, however if the cheque is non-local e.g. not in USD, you would be charged handling commission fee which is usually between $10 to $100.
Fees associated with topping up a prepaid card by cheque
The cost varies depending on the bank; it can be anything between $1.50 to $3.00 per transaction
Conditions relating to topping up a prepaid card via cheque
This is subjected to an agreement signed at the outset of issuing the cheque. Also, the cheque primary currency denomination is intact irrespective of the receiving currency, and should there be differences, there would be clearing charges.
Other Ways to top up your Prepaid Card.
· You can load it through a bank or commerce representative, here, he would swipe the card and load it for you through its payment terminal
· Online method, here you would link it with the prepaid service provider, it would be automatically loaded provided you have cash in the online account
· Some banks issue the cardholder account numbers of which they can pay into and the prepaid card would be loaded automatically.
Â· Through the cheque method.
Advantage of using the Cheque Method
· It is safer
· It is very convenient and easy to use
· Payments can be made from anywhere
How it is processed
When deposited in the receiving bank or financial institution, it is cleared by them and credited to the prepaid card, through its numbers. Note that illegible or insufficient funds cheques would be bounced, today the federal reserve's mainly done this function.
Top up the prepaid card by Cheque. What does it mean?
It implies funding a prepaid card with the use of cheque when the cheque has cleared the card is funded with the specified amount.
Topping up by Cheque
To top up a prepaid card using the Cheque method
· First, you need to fill in the cheque with the necessary details such as the date you are writing the check, the prepaid card number, the amount in number format, and the amount in words format, and then make your signature.
· Optionally, you can include the purpose of writing the check which in this case is to fund a prepaid card.