You can buy prepaid cards at retail locations (such as grocery stores and drug stores), online, over the phone, or from some banks and credit unions.
If you buy the card online, you may then be issued a virtual card, or you may receive a physical card in the mail at a later time.
How do prepaid credit cards work?
Prepaid cards actually work a lot like bank debit cards. Each transaction reduces your cash balance, but unlike a conventional debit card, a prepaid card is not tied to a bank account. You can use some prepaid cards to withdraw cash from an ATM, but you can only withdraw up to the amount loaded onto the card.
How much is a prepaid card?
With some prepaid debit cards, loading the card at retailers can cost up $3.95 for each transaction. With the American Express Serve Free Reloads prepaid card, you pay zero for cash reloads. Here’s a look at the fees and features: Card purchase fee: Free online; at retail locations it can cost up to $3.95.
Does the post office do prepaid cards?
Topping the table for travel money, Post Office offers a prepaid card onto which you can load up to 13 currencies and spend wherever you see the MasterCard logo.
Are prepaid cards debit cards?
A prepaid debit card is an alternative banking card that only lets you spend the money you load onto the card. Like a debit card, a prepaid card works at any merchant that accepts its payment network, such as Visa or Mastercard. It’s safer and more convenient than using cash.