Reloadable Prepaid Cards: Enticing Reasons to Get One
Due to their perks, reloadable prepaid cards have become immensely popular among various markets. Prepaid cards for business are starting to be a weapon of choice by SMEs and other companies when making all sorts of payments. Individuals meanwhile use prepaid cards for various purposes, such as shopping, paying bills, and even saving money.
Why should you get a reloadable prepaid card, in the first place? If you are thinking about owning one sometime soon, then here are a few good reasons to consider:
- Prepaid cards help you fix your budget.
Do you always run low on funds? Are you the kind who still struggles to keep your finances afloat? Prepaid cards may help you stabilise your finances, especially when you are living from paycheck to paycheck.
Prepaid cards have various features that allow you to shop, pay for your utilities, and secure other necessities with just a few clicks. You can then load your card with just the right amount of funds for you to get by until the next payday. At the same time, you can safely keep your passbook or ATM card somewhere else. You then won’t be able to spend its balance on impulse.
- Prepaid cards can be used for international transactions.
Another significant benefit of reloadable prepaid cards is that they can be used to pay for international transactions. These include online merchants who are based abroad, or hotel accommodations and restaurants that you will be going to during a holiday overseas.
If you are a frequent traveller, you can properly allocate funds based on your holiday budget and use your card to make all the necessary payments. This way, you won’t be able to touch funds from your other accounts because your prepaid card covers everything you need.
- Reloadable prepaid cards can be used for business.
There are also specially-designed prepaid cards for business. These cards can be used to pay vendors, utilities, and other transactions between clients and vendors. You can also utilise the features of your card to pay your staff’s salaries or complete payments for outsourced workers after project completion.
- Prepaid cards don’t touch your bank account.
You can use prepaid cards by loading them up with cash. This means they are not linked to any of your existing bank accounts, nor are you required to open a bank account to use it.
The funds in your existing accounts are not in any way affected when you max out your prepaid card. You have to reload it again so you can continue with your usual spending activities.
- Prepaid cards remind you exactly how much you can spend.
Prepaid cards have limits, and you can spend only up to how much balance there is in them. You then adjust in accordance to your card’s capacity, because once maxed out you won’t have immediate support, such as a credit line or a savings account.
In essence, you can only use your prepaid card so long as it has funds in it.