Prepaid Debit Card

How to Identity Theft and Frauds?

A debit card looks like a credit card but works like an electronic check. Why? Because the payment is deducted directly from a checking or savings account. If you use a debit card at a retail store, you or the cashier can run your card through a scanner that enables your financial institution to verify electronically that the funds are available and approve the transaction. Most debit cards also can be used to withdraw cash at ATMs (automated teller machines).

Who can apply for a debit card?

Anyone can apply regardless of his or her nationality, country of residence, credit history or status.

What is the advantage of a debit card?

A debit card is more secure than a bank card. Like a bank card, nobody can get at your cash without your Personal Identification Number (PIN). What's more, unlike a bank card, the maximum risk that you face is the amount of money stored on the card. With a normal bank card, someone who steals both your card and PIN may be able to clean out your entire bank account.

What is an RELOADABLE DEBIT CARD (RDC)?

RDC offers what are known as ""stored value"" cards. Quite simply, that means that you store money in an account and access it by using your card at a bank machine (ATM) or by using it like a bank RDC to make purchases.

Why Debit Cards and Credit Cards Comparisons Pointless?

One wonders what drives financial advisors to compare two completely different products that have a single thing in common: the material or substance of which they are made. Other than that, I did not see a good reason for comparing a debit card to a credit card.

Will I still be able to return and get a refund for things I buy with my debit card?

Both debit and credit cards are payment instruments. They are used for replacing cash on commercial and financial transactions. They are used for purchasing goods and paying for services and with the exemption of certain places distant from towns or cities, both products are accepted everywhere.

Can I still get at my money if I forget my Personal Identification Number (PIN)?

Not right away. To ensure that your money is safe, you need both your card and your PIN to get at your money. However, if you forget your PIN.

Why should I trust debit card?

It is definitely a lot easier to buy products on the internet by means of a credit card. Payment intermediation services that allow you to use a debit card require verification processes that are otherwise not necessarily. Therefore, when it comes to online shopping we need to point out that there are significantly differences between these two financial products.

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Prepaid Debit Card

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