PrePaid Cards Are More Like Debit Cards Than Credit Cards. Learn How To Manage Your Finances With A PrePaid Card.
Travellers cheques have been largely replaced abroad by credit cards, but prepaid cards allow you to put a set amount of money on a card when you are in the UK or overseas, and you cannot spend more than the limit on the card, so they offer a great way of budgeting
They are used in exactly the same way as a credit or debit card, and you can give them as gifts if you want to.
How do they work?
You can load money onto the cards on the internet, at a bank or Post Office, or via a mobile phone if you wish. PayZone or PayPoint terminals can also be used.
In the same way as a credit card, you will be given a PIN number and you have to sign the back of the card, and the amount would be taken from the card when the transaction is confirmed.
