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Old 12-12-2009, 03:06 PM
Matt Matt is offline
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Default Difference of Debit Card from Prepaid Card
I know what is a Debit Card. It's an electronic card that is used like a credit card but must have money in bank account where the debit card is connected. Right?

How about prepaid card, how does it work? How does it differ with a debit card?
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Old 12-12-2009, 06:16 PM
Michael Michael is offline
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its almost similar but a prepaid card has the balance on itself , just like a gift card . debit card uses bank account balances .
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Old 12-13-2009, 01:31 AM
tommy tommy is offline
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It is also good to note that many places online will not accept payment in the form of a gift card (say for example you want to purchase something from a company which the gift card was not issued). Some people assume any type of money gift card can be used anywhere but that is not the case at all.
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Old 12-13-2009, 05:38 PM
Matt Matt is offline
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Thanks for the answers, they really helped a lot.

Just to make sure what I understood is correct, I would state them. Prepaid cards are like debit cards but works like a phone card, right? That means when a prepaid card is empty then you can't it anymore.

But why is it that you can't use prepaid cards in all companies?
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Old 09-02-2011, 08:08 AM
chouhan chouhan is offline
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With a prepaid card your limit is generally the amount you origanally sent in on the other hand in credit card the limit is either the amount available in your cheking account or a pre-determined sum sent by you or your bank for having a prepaid card you must have to do payment but it is not so in case of credit card
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Old 06-30-2012, 03:05 PM
Estam Estam is offline
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My interest in Prepaid Cards is that they are not linked to your bank account. From my understanding they can have the MasterCard or Visa logo and can be used anywhere a credit card is used.

We had to have a new debit card as out bank account was compromised with out of state charges which were picked up by out bank and were reversed. We received a new debit card (new number) and we have never let this card out of our site and keep in a special pouch. This kept the cvv code out of anyone's site. A recent visit to a major restaurant chain, gave up the card to pay bill, within three days received two out of state purchases one being buy.com who phoned us to confirm the purchase. They had picked it up for whatever reason and were on the ball.

Needless to say we have a new debit card again and are seriously considering using a popular prepaid card that resembles a Master/ Visa Card and does the same job. The only draw back is going to be a monthly charge for the card which might be worth it to hide our account information and the prepaid part will limit my fraud exposure to the amount I have on the card.

The best part (I think) is that I know when I'm going to use the card and it can be charged using PayPal which will be hooked up to my debit card and so far over the last 10 years plus have never had a problem with Paypal.

I would appreciate any comments on this set up as I haven't done anything yet and one day someone might get into our bank account and do some real damage.
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