Updated time: Mar 21, 2022, 06:56 (UTC+03:00)
What is a Mastercard Prepaid card? How does this card work? How is a Prepaid card different from a Debit or Credit card? All you need to know about MasterCard prepaid card will be introduced in this article by DNBC Financial Group - a reputable digital banking company.
All you need to know about MasterCard prepaid card
All you need to know about MasterCard prepaid cards is an international prepaid payment card. This card allows cardholders to spend the entire amount of money on the card. Prepaid cards function similarly to debit cards in that funds must be available in the account before spending. The sole distinction is that the Prepaid card is not linked to the users' bank accounts.
Prepaid cards have card numbers, cardholder name, month and year of expiration. In particular, there is a CVV consisting of three numbers located on the back of the card, which is a secret code for you to fill in information when shopping online. There is also a four-digit pin used to activate the card. Prepaid card is a completely independent card, clients must top up the card in order to use it. Many people still confuse these two cards and think that Debit and Prepaid are the same types.
Banking cards are classified into three types: debit cards, credit cards, and prepaid cards. They represent different assets and features. In which, Debit and Credit cards are well known. The 'Prepaid Card' still seems unfamiliar to the majority of users. DNBC will specifically compare the difference to let you understand how Prepaid cards work
The Debit card is connected to a bank account. It means that if the client has an account at a certain bank and has 500$ in that account. He can use up all 500$ in the bank account via the Debit card.
The Prepaid card, on the other hand, is utilized depending on the amount of money on the card. Customers can use up all of the money on the card and must transfer additional money to it before using it again. In short, the Prepaid card is unrelated to your bank account.
Credit cards are used based on the limit granted by the bank for users. A credit card allows the client to use the card to pay bills, shopping due to the limit first, then payment for the charge later. That is the biggest difference. It can be said that a Prepaid card can be seen as the opposite of a Credit card. As for the Prepaid card, you have to manually top-up money to the card before using it.
It is undeniable that Debit and Credit cards both bring certain convenience compared to Prepaid cards. However, you should also take a look at the benefits of Prepaid card below to have a better overview, as well as more choices for yourself when opening the card.:
DNBC Financial Group is a reputable digital banking company with head offices around the world. We provide payment solutions such as SEPA payment, International payment. More specifically, in the SEPA, we have launched the ELITE package for personal accounts . With preferential rates for individual customers, we also offer the prepaid cards for DNBC customers .
The DNBC Prepaid Card with a unique design, including 1 light-blue card and 1 black card, is suitable for the demand of each customer segment. With this card, DNBC's customers will have more convenience in making payment.
The DNBC Prepaid Card gives the best choice for customers with no limit top-up to the card. Customers who live in the SEPA zone and register the ELITE package for personal accounts with DNBC easily get a new card. With no limit top-up prepaid card, it leads to many benefits below
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We are always proud of being an experienced Financial Institution in the global financial payment market.
We provide the best payment platform as well as worldwide money remittance service. DNBC Financial Group can assist you with different payment methods, whether it is a personal account or a business account.