Why the interest in prepaid debit cards?

Prepaid debit cards are getting more popular all the time in the UK. They have been described as a ‘credit card without debt’, but what can we expect of the new prepaid debit card coming to a wallet near you?

A prepaid card is not a new idea. There have been prepaid phone cards, prepaid sim cards, and prepaid gift cards for a number years, and the concept of the prepaid debit card is just the same: you load up a card with money which you can then use at retail outlets or with merchants online. You can also use it to top up your mobile, pay your bills or withdraw cash at an ATM.

A prepaid debit card comes from Visa or MasterCard, so it can be used pretty much anywhere in the world.

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