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The Real Reason Behind Prepaid Debit | prepaid debit

A prepaid debit card is often compared to cash and in some ways even better: it's secure means to carry cash around without having to carry large amounts of cash. While cash doesn't, prepaid cards come with some consumer protections. These protections come in the form of annual fees and service fees, that are charged to the credit card owner. By some estimates, these costs average about $6 per year. That's far less than what people pay for gas or parking.

One of the most common complaints about prepaid debit cards is that they don't allow their customers to hold funds on them for an extended period of time. In other words, they aren't designed to be kept at a bank for six months or more. Banks allow their customers to hold funds on their checking accounts for a very long time. The reason banks allow their customers to do this is because it allows them to have their hands on potentially risky investments. The fact remains that if a bank allows you to hold your funds on a non-bank site, then you don't have as much protection.

Some people complain that some of the top credit card companies like VISA, MasterCard and Discovery charge extremely high interest rates for their prepaid cards. This is primarily due to how the credit card companies generate the money they sell their users. The way that they do this is by issuing millions of cards in an incredibly competitive market. In order to generate this many cards, the credit card companies must inflate the amount of credit available to their account holders. When the economy goes into recession, this inevitably leads to higher interest rates for everyone.

Those with prepaid debit cards complain that they just can't compete with the bank account card issuers when it comes to interest rates. Many people would like to get away from using cash, but they can't do that because their overdraft fees are expensive. In addition to overdraft fees, most banks also charge exorbitant monthly maintenance fees. If a person keeps their account active but doesn't pay their overdraft fees, then they end up paying the bank until the overdraft fees are paid off.

One major complaint about prepaid cards is that they don't provide any extra privacy or additional protections than a regular bank account. Because the transactions are done online, many internet sites make it very easy for people to access other peoples financial information. Banks take extra precautions to make sure that their customer's information is secure. When you use a prepaid debit card, then there is no way for anyone to know what you are doing on your account.

Another complaint that is often made against prepaid cards is that they don't allow for automatic direct deposit. There are some retail establishments that will add extra fees to a person's debit card, but most of them don't have an automatic system in place to deposit the money. If you want to add cash to your Walmart debit card, then you need to go to the store and add money manually. Direct deposit will make it easy for you to save more money in your pocket and it will also give your employer some extra privacy. They won't have to find a nickel's worth of change to add cash to your account each month.

The final complaint that many people have with prepaid cards is that they are not linked to a credit card company. The reason that credit companies and banks don't want to issue prepaid cards to their customers is that they don't have much risk in terms of fraud. Those who have used prepaid cards are very familiar with all of the fraudulent transactions that go on in stores. A thief who has a prepaid card can use it to make purchases anywhere that a credit card company is partnered with and he won't have to worry about being reported.

As you can see, there are a few issues with the Walmart debit card. But overall they offer a lot of flexibility that makes them great. You are able to make purchases everywhere that major retailers are located, but you aren't tied down to using your debit card. That gives you a lot of freedom in your spending and budgeting. You also have the added feature of having an allocated amount of money to spend each month. All of these features make prepaid cards a very valuable part of today's lifestyle.

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