The Application of Pre-paid Cash Card for Consumers

Pre-paid cash card is a payment card that allows users to pre-load any amount into it and make purchases up to that amount. Most of the pre-paid cash cards are issued under Master Card and Visa Electron. The examples of pre-paid cash card are Touch n Go card and Octopus card.

As we know, pre-paid cash card provides wide acceptance since it can be used internationally. In UK, the personal information such as owners’ name will be printed on the card. Moreover, pre-paid cash card is not like credit card, the users still can apply for the card even they have bad credit record, it is a great option for those people that have poor credit history before.

There have some advantages provided for the using of pre-paid cash card. Firstly, the pre-paid cash card would not get users into the debt because the transactions only will be made up to the amount that they load into the card. It can prevent users in overspend the money since the users can only spend what they have paid in. Most of the card enables users to manage their account through online or via an interactive voice response telephone service, they can check the balances easily. In case the card is lost or being stolen, the remaining balances will be transferred to a new account and the users will get a replacement card.

However, there also have some disadvantages for the using of pre-paid cash card. It is important for the users to aware of where they shopping because some websites will befool the users and the users may pay for the products that they never receive. As a result, online shopping through the pre-paid cash card is not encouraged unless the users having sufficient security information about the website.

As a conclusion, pre-paid cash card make the users more convenient in their daily routine life, however it still bring some disadvantages to the users. Users should be more careful in using the pre-paid cash card, especially for the online shopping. Sufficient security information about the website is needed when the users are consider to make purchases through the website.