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A prepaid debit card is a payment card that operates differently from traditional debit cards linked to bank accounts. Instead of drawing funds from a bank account, users preload money onto the card.
This differs from prepaid cards where money is on deposit with the issuer similar to a debit card. One major difference between stored value cards and prepaid debit cards is that prepaid debit cards are usually issued in the name of individual account holders, while stored-value cards are usually anonymous.
Advantages of prepaid debit cards include being safer than carrying cash, worldwide acceptance, not having to worry about paying a credit card bill or going into debt, the opportunity for anyone over the age of 18 to apply and be accepted without checks on creditworthiness, and the option to deposit paychecks and government benefits directly ...
RushCard is a personalized prepaid debit card offering early direct deposit, money management, and rewards. [26] The card was founded in 2013, with co-founders such as Russell Simmons under the company UniRush LLC which was sold to Green Dot Corp. in a deal valued around $147 million. [27]
Prepaid debit cards are an alternative way to access and spend money by using a physical card, mobile app, website or electronic payment. Check out some of the best prepaid debit cards available --...
Green Dot’s reloadable, prepaid debit card does not use ChexSystems, and no credit check is required. ... Minimum deposit: You’ll be asked to deposit $25 to begin using your card as soon it ...
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