The prepaid cash card is of use in several ways, namely:
1. Pay bill – Rent, utilities, insurance, car payment, and cell phone bills can be paid instantly.
2. Shop anywhere as long as the card using is accepted at different retailers, buys fuel at the pump, pay by phone, and shop on the Internet.
3. Get cash at ATMs, any time of the day, and any day of the week.
4. Transfer money – For some prepaid cash card they provide the convenient such as send or receive money via bank wire transfers, between two cards.
5. Pay for toll – Use Touch n Go card as an example, it can be used at all highways in Malaysia, major public transports in Klang Valley, selected parking sites and theme park.
Other than as mentioned above, prepaid cash cards can be used as a replacement for travellers’ cash. Customers buy prepaid debit cards denominated in the currency of destination, and then use them to withdraw cash at ATMs or pay for goods or services. It is indeed a great way to carry prepaid cash card, carry prepaid cash card as we travel is much safer and more secure than carrying around large amounts of cash.
Prepaid Cash Cards – Why use them?Nowadays so many people tend or already have their own prepaid cash cards, why is it so? The reasons are as below:
1. Remain in control of one’s money, keep track all of activity online or by phone.
2. Free balance alerts –Some card providers will inform users on how much cash they have.
3. Eliminate check cashing fees and enjoy immediate access to your money through direct deposit of your paycheck, government payment or other income sources, no bank account needed.
4. Avoid bounced check fees; always know exactly how much money you have to spend. The prepaid card can help protect you from over spending.In a nutshell, prepaid cash card is indeed a good invention that makes life easier, it contributed a lot in eliminating debt risk with no chance to spend too much as the balance is limited to the amount reloaded, and the convenience that it provide is indeed great.
References:
http://www.moneysupermarket.com/cards/prepaid-cards-guide1.asp
http://usa.visa.com/personal/cards/prepaid/index.html
http://www.mastercard.com/us/personal/en/aboutourcards/gift_prepaid/
http://www.electronic-payments.co.uk/solutions/Splash_plastic_card
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