The Invaluable Fundamentals of Prepaid Cards.

“Prepaid cards are a great way to get things done, they’re easy to use and safer and more secure than cash”– LB Camden

What Are Prepaid Cards?

A prepaid card is a payment instrument where funds are connected directly to a card as opposed to tied to a credit or debit account.

A prepaid card can be loaded with funds to make purchases anywhere a debit card is accepted. It looks like a debit or credit card and is a safe alternative to carrying cash and paying check-cashing fees.

“Prepaid cards allow us to focus on monitoring high-value processes, they allow all Council departments to manage more effectively” — LB Brent

A prepaid card has a zero balance until money is added to it. When you make a purchase with a prepaid card, the amount is subtracted from the balance on the card. Once the balance reaches zero, the card is empty.

A prepaid card is a way to pay for goods and services just like a credit or debit card. The major difference between prepaid cards and credit and debit cards is that prepaid cards aren’t dependent on a link to a savings, checking, or credit account with a financial institution.