Prepaid cards

Prepaid cards are a type of payment card that can be used like a credit or debit card, but they are not linked to a bank account or line of credit. Instead, they are funded in advance with a specific amount of money, and the cardholder can spend up to that amount until it is depleted. Prepaid cards can be used to make purchases or withdraw cash at merchants or ATMs that accept the card's payment network, such as Visa or Mastercard.

Prepaid cards can be a useful financial tool for people who do not have a bank account or credit history, or for those who want to control their spending and avoid overspending or incurring debt. They can also be a convenient way to pay for things online or in person, as they do not require a bank account or credit check to obtain. However, prepaid cards may also have fees, such as activation fees, maintenance fees, or transaction fees, which can vary depending on the issuer and the specific card. It's important to carefully read and understand the fees associated with a prepaid card before using it to make sure it is the right financial tool for your needs.