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What is a prepaid debit card?

Updated: 9/15/2023
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13y ago

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A prepaid debit card is separate from the traditional debit cards provided by banks and also very different from a credit card. You can get a prepaid debit card from several outlets (Netspend.com is a good one I've used) and all the money on the card is put onto it by the card holder before they are able to spend anything.

They work very much like debit cards issued by banks, except there are no interest fees, and no overdraft charges. You can use a prepaid debit card for shopping online, renting a car, paying bills, and even renting a hotel. Additioanlly, you can transfer money from standard bank accounts to the card, get money directly deposited to the card, and you can use it through PayPal as well. Check out the link below for more uses of the card, and how to sign up for one.)

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13y ago
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