What is a Prepaid Card or Top-up Card?

What is a Prepaid Card or Top-up Card?

What is a Prepaid Card or Top-up Card?

A prepaid card is a payment card just like a debit or credit card. It is more likely to a debit card. The reason is it will work only if there is sufficient balance in the account. The difference between a debit card and a prepaid card is that a prepaid card does not require a bank account to link. The topping up of fund happens within the card. It is a stand-alone product. Also, there is no bank charges attached to it. But when we make top-ups, there is a minor amount deducted from the topping up amount. For eg: to use USD100/- from a prepaid card, you must top up for may be USD 102/- or so depending upon the service provider’s charge policy.

Also Read

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4. See What is a Pay Order?
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6. Know What is Crossing of a Cheque Mean?
7. Read What is an Order Cheque?
8. Read What is a Bearer Cheque?
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12. Know What is a Pre-Dated Cheque?
13. Read What is a Stale Cheque?
14. Read What is a Mutilated Cheque?
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16. See What is Telegraphic Transfer?
17. know What is Letter of Credit?
18. know What is a Demand Draft?
19. Read What is a Travel Card?
20. Read What are the types of Travel Cards?
21. See What Is A Branded Credit Card Or Debit Card ?
22. See What  is a Co-Branded Credit Card?
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25. Know What is an Online Transfer?
26. Know What are the online payment services available in the UAE?
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