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	<title>The Fiscal - Financial News &#187; Prepay Debit Card</title>
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		<title>What is a prepaid debit card?</title>
		<link>http://www.thefiscal.com/what-is-a-prepaid-debit-card/</link>
		<comments>http://www.thefiscal.com/what-is-a-prepaid-debit-card/#comments</comments>
		<pubDate>Fri, 18 Sep 2009 19:05:41 +0000</pubDate>
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				<category><![CDATA[Credit]]></category>
		<category><![CDATA[Debit Cards]]></category>
		<category><![CDATA[Prepay Debit Card]]></category>

		<guid isPermaLink="false">http://www.thefiscal.com/?p=66</guid>
		<description><![CDATA[Nearly two decades ago, there was a heavy mishap for the credit card companies because many credit card holders failed to make their payments on time. To overcome this misfortune, they introduced secured prepaid debit cards. Prepay debit cards are analogous to prepaid phone cards. Just like how you buy prepaid phone cards by paying [...]]]></description>
			<content:encoded><![CDATA[<p><img class="alignright size-full wp-image-67" title="prepay7" src="http://www.thefiscal.com/wp-content/uploads/2009/09/prepay7.jpg" alt="prepay7" width="240" height="240" />Nearly two decades ago, there was a heavy mishap for the credit card companies because many credit card holders failed to make their payments on time. To overcome this misfortune, they introduced secured prepaid debit cards. Prepay debit cards are analogous to prepaid phone cards. Just like how you buy prepaid phone cards by paying money initially, you can own prepaid debit cards by giving the amount of money that you wish to have as your limit. Also, you can increase your limit at any retail place or online banks. You can use the <a href="http://www.elastic.com">prepay debit card</a> until there is no balance left.</p>
<p>Prepaid debit cards can be used like credit cards, that is, you can purchase goods in any country where your credit card company provides services. But unlike credit cards, transaction amount will be withdrawn from your debit card automatically. You can even withdraw cash from your debit card using PIN. It is mandatory that you change the PIN regularly and not reveal it to anyone to avoid unauthorized usage. It is advisable to keep checking your transactions and to set spending limit per day so that no one can misuse it in case the card has been misplaced.</p>
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