Introduction

A Prepaid card is a payment card that is loaded with money by the cardholder or someone else on behalf of the cardholder.

A prepaid card looks just like any normal credit or debit card, with a card number, chip and company branding. Prepaid cards are unlike credit cards, which provide the cardholder with a line of credit. They are also very different from debit cards that are linked to a bank account with an overdraft facility. This is because the cardholder can't borrow money with a Prepaid card - they can only spend the money they have loaded onto it.

Depending on which brand mark appears on your card, you can use it to make purchases wherever MasterCard® or Maestro® cards are accepted. When you use a prepaid card at a retailer, the price of your purchase is deducted from the amount loaded onto your card. You can also make secure purchases by phone or over the Internet. In addition, if you have a prepaid card that can be reloaded, you usually have the ability to withdraw your money from a cash machine (ATM).