Prepaid card

PREPAID CARD


prepaid cards can protect you and; your bank account, they are ideal if you have agreements with creditors or simply like to shop on line, they are an excellent budget tool.

Paying for items or services with a normal credit or debit card means you are engaged in what is called a * ''continuous payment agreement'', what this means is your agreement cannot be cancelled either by you, your card company or your bank, it can only be cancelled by the receiver of the payment.

if therefore you are using a normal credit/debit card to make on line payments, then in effect your bank account, access to it, plus all of your income/savings are under the control of a third party and not YOU or your BANK.

a prepaid card limits the amount that can be taken as you only have to load it with what you want to spend, with a pre-loaded amount, you also avoid any further unauthorized deductions form your card, you can also simply dispose of the prepaid card if you wish and get a new one.

industry figures show that as much as 73% of people never check their credit card bills on a regular basis.

any opening amount placed on your prepaid card is yours to spend when you activate your prepaid card

* relates to UK law



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