what is a pre pay debit card?

what is a pre pay debit card?

We all want to feel in control of our spending and having a pre pay debit card that you can use to make purchases may be extremely useful in a variety of circumstances.

So, just what is a pre pay debit card (also known as a prepaid debit card)? A pre pay debit card is not like a regular credit card. You can only spend the amount of money that you have loaded onto the card at any one time. This means that there is less chance of overspending and possibly running up the credit bills that can so easily happen with a traditional credit card.

Prepaid cards are available online from specialist card providers who may also be able to set up an e-bank account to complement the card.


This could mean that in addition to having the flexibility of the card itself, you could also have your salary paid directly into the account or set up standing orders to make payments on a regular basis. Giving you greater control of your money is the key here, as this can be a way for you to side-step your bank as all payments go out from the card – so no interest and no charges.

The main strength of the prepaid card may be that you can use it like cash but without the risks involved in carrying around what could potentially be fairly substantial amounts of money.

If you have ever reached into your pocket to find your money only to discover that it had fallen out or been stolen, then you’ll know only too well that the chances of you seeing that money again are almost zero. If the same happens to your card, you only have to contact your provider to put a stop on the card and prevent it from being used by someone else.

Loading the prepaid card

One of the features of a pre pay card is that it can often be managed online or you can credit cash to it using pay point facilities available in an increasing number of shops and outlets. Some providers – such as Speed-e-card – can top up an activated card using a payday loan from Speed-e-loans.

Children can be especially vulnerable to losing money or having it taken from them so using a card may be particularly helpful for them as well as introducing them to the grown-up world of managing their own finances. This may be particularly true on things like school trips where they may need enough to last them for several days.

Then, if there’s a phone call home on the last day to say that the pre pay debit card is empty and your present is still to be bought, you may be able to simply charge it up again online in a matter of minutes!

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