A prepaid card is also known as “stored-value cards” simply refers to a card that is loaded in advance for the purpose of spending money. It is different from a bank account debit card in a way that it is not linked to a checking account. Usually, the amount of money you deposited to your prepaid card is the exact amount of money you are only allowed to spend. In case of overspending and exceeding the amount in your account, you may be charged to pay the overdraft. Bellow is a list of prepaid cards casinos for deposits.
Prepaid Cards Casinos
You can use your prepaid card for many things like shopping, purchasing services and of course, gambling. These are often used by online casino players to easily manage their online gambling expenditures. Prepaid cards are now becoming one of the most reliable and fastest payment methods utilized in the world. Through this, your data is protected and you are guaranteed with reliable and quick money transactions in the global online casinos.
How to deposit with Prepaid Cards
It’s a simple and easy process. You can open a prepaid card by arranging a paycheck to be deposited directly to the card. After this, you can now transfer money or funds from your checking account. Let’s take 100$ for example. After you have deposited your desired amount of money, you will get a physical prepaid credit card as an account holder, and you can use it just like a regular credit card.
Using prepaid cards in casinos is a good thing as it limits you to spend just enough money from the card and keep you away from potential debt. You cannot spend more than your deposit. Most of the known payment systems like PayPal, Ecocard, and NETELLER are issuing prepaid cards. Other payments technology companies such as MasterCard, Visa, and American Express are also aware of issuing this. The main goal is to provide ease and convenience to people in managing their money.
These days, you can now even pay bills, check balance, send money or add checks to your prepaid card with the use of mobile applications. Another important thing to know is a prepaid card can be used either disposable or reloadable. So choose wisely based on your needs.
Prepaid Cards Pros
Prepaid cards, being the mainstream payment medium has the following advantages:
In case your prepaid card is stolen or you have lost it, the amount of your loss is only limited to the amount deposited in your prepaid card. If stolen, a person cannot use it unless they know your PIN number.
No risk of overdrawing
The amount you are only allowed to spend is stated on your prepaid card and you cannot overdraw it. The transaction will be declined once you are overspending.
Personal information is safe
Since prepaid cards are not linked to your other financial accounts, you don’t have to worry about someone stealing your personal and confidential information.
Convenient to reload
If you are short of funds and want to add, you can easily do it by reloading your prepaid card in several ways like purchasing a reload pack, transfer from your checking account or through direct deposit.
No credit risk
With prepaid cards, your credit card activities are not monitored.
Prepaid Cards Cons
Though the prepaid card has great advantages, it also has a downside.
Prepaid cards are expensive because of the fees needed to activate the card. The charges go along with ATM withdrawals, checking your balance, talking to customer support and others.
No credit building
Though a prepaid card does not track and impact your credit report, it also won’t influence its rebuilding process. This is not acknowledged by Credit bureaus and thus, your credit score will not improve.
It does not guarantee you strong protection against unauthorized billing charges and frauds. So, there is likely a chance of prepaid card loss and theft.