FAQs
A prepaid debit card is much like a gift card: It allows you to spend whatever amount of money is stored on the card. You can reload the card online or at an ATM, a participating store, or another physical location when the balance is used up.
How do prepaid cards work? ›
A prepaid card is not linked to a bank or credit union account. Instead, you put money into the card account, sometimes called loading money onto the card, before you can spend it. With a debit card, you are spending money you have in your bank or credit union account.
What is one downside of using a prepaid card? ›
Disadvantages of prepaid debit cards
Prepaid debit cards may have additional fees associated with ATM withdrawals, card replacement, direct deposit, inactivity, card cancellation, paper statements, and card reloading.
What happens if a prepaid card is not enough? ›
There isn't enough money on the card
With a prepaid card, you need to know your balance before spending to avoid declines due to low funds. For example, if you have $4.27 on your prepaid card, but try to buy a $5 item, the transaction will fail since the card balance is insufficient.
Does a prepaid card have a routing number? ›
Prepaid cards have account and routing numbers, which can make it possible to arrange for direct deposit of your paycheck or government benefits. After that, you use your card much the same as you would a regular debit or credit card. You can make in-store and online purchases, pay bills, or withdraw cash from an ATM.
What is one thing to be careful of with prepaid cards? ›
There are only a few downsides to using prepaid cards, but they are significant. Prepaid cards come with fees. Cardholders may have a lot of fees, including activation fees, transaction fees, ATM withdrawal fees, reloading fees, monthly fees, or inactivity fees. Check the fine print on the card for fee types.
How much money can you put on a prepaid Visa card? ›
Some prepaid debit cards let you load up to $15,000 onto your card, while others may have a lower maximum amount. For example, the Regions Now Card has a $7,500 balance limit. You can find the maximum limit on your prepaid debit card by reading your card's terms and conditions.
Why do you want to avoid prepaid cards? ›
Most prepaid cards charge costly fees that can include a transaction fee for every time you use the card. Other fees to look out for include annual or monthly maintenance fees, cash reload fees, inactivity fees, foreign transaction fees, balance inquiry fees and more. Won't help build credit.
Where can you not use a prepaid card? ›
Prepaid cards cannot be used for credit card payments or car payments. You cannot split payments online so you can only spend the amount that is on your card. You should keep your prepaid cards until they expire in case you receive any refunds to your cards. Virtual cards are meant to be used online or over the phone.
What are the risks of prepaid cards? ›
Fraudsters can also use prepaid cards to carry out scams, such as card cracking or card testing. In these schemes, fraudsters use stolen or fake card information to load money onto the prepaid cards, then quickly withdraw the funds before the bank detects the fraud.
The most common reasons are that the card hasn't been activated, the cashier is running the wrong type of transaction, the dollar amount being charged is greater than the card's balance or the credit card processing machine is bumping up the charge amount to either place a hold on the card or to allow for a gratuity.
Why do prepaid cards get declined? ›
There are a number of possible reasons why a purchase could be declined: You don't have enough money left on your card. You haven't activated or registered your card. The address you gave to make an online or phone purchase is different from the address you have on file with your prepaid card provider.
What is not a good reason to get a prepaid debit card? ›
Won't help build your credit
Neither prepaid debit cards nor traditional debit cards factor into your credit reports. If one of your big goals is boosting your credit score, you're better off comparing the best secured credit cards.
What is 22622 text message? ›
To sign up for Anytime Alerts, activate the feature in your online account and text the letters "BAL" to 22622 whenever you want to check your balance. Phone Call: If you prefer to check your balance over the phone, you can call Netspend's toll-free number at 1-866-387-7363.
Can you use a prepaid card without a bank account? ›
Prepaid cards are a convenient way to pay for things if you are not carrying cash. You do not owe a bill since you are using money you already have. You do not need a bank account to use a prepaid card. You do not need a good credit history to use a prepaid card.
Whose routing number is 096017418? ›
096017418 is a routing number used for GREEN DOT BANK in UT. This routing number supports ACH transfers.
How do you pay with a prepaid card? ›
Prepaid cards generally allow you to make purchases in the same way as credit and debit cards. The key difference is that prepaid cards aren't linked to a bank account or a line of credit. So to use one, money has to be loaded onto the card. Keep in mind that there may be fees to activate or use prepaid cards.
How do you add money to a prepaid card? ›
You can take the cash to an approved retailer who will load it onto your card. Your card issuer will provide you with a list of retailers where you can load cash onto. If your card issuers are linked to a traditional bank, you can also load cash onto your card at any of their branches.
Why are prepaid cards not accepted? ›
Prepaid cards can be declined because you don't have sufficient funds in your account, the card hasn't been activated, the merchant doesn't accept the network's cards, or you have exceeded your spending limits. Any information you provide to the merchant must also match what's on file with the prepaid card issuer.
