Prepaid Debit Cards

Prepaid debit cards have come a long way over the years. They can be important financial tools for a number of purposes, and are no longer just for hiding money from creditors. They can provide an extra layer of security, convenient methods of moving money, and avoid fees.

My new personal favorite is the PayPal Prepaid MasterCard. Even if you already have the PayPal Business Debit Card, as I do, this is a must have for any PayPal user. The primary advantage is that it allows you to make ACH transfers (EFT), and instantly transfer money from your PayPal account to the debit card for free. Normally it takes several days to deposit funds from your PayPal account into a bank account. The routing and account number for the PayPal Prepaid card (unlike other prepaid cards) is also accepted at CoinBase, allowing you to buy Bitcoin using your PayPal account very rapidly. You can also get your pay checks direct deposited. To top it all off, we each get $5 when you load $10 onto your card!

 

I also have a NetSpend Visa card. It also allows ACH transfers (although Coinbase won’t accept its account number). You can reload it from your PayPal account as well, but instant transfers incur a fee while normal ACH transfers take a few days and can be done for free. The advantage of the NetSpend card is that you have the ability to deposit checks into your account using your smartphone’s camera. You also of course of the option of direct deposit. Perhaps the best part is, we each get $20 when you load $40 or more!

 

 

  • Doktor Jeep

    Special note: My ATM/debit number was recently stolen and thankfully I lost nothing because I had warning systems in place but it’s still a pain in the ass going to the bank, having to get a new card, having to go into other online accounts to put in a new number, etc.

    Since then (Monday) I’m considering using pre-paid cards to firewall my ATM. My goal is that my main ATM, the very card that access my bank account, will never get used for anything other than actually going to the bank to use the ATM machine. For other stuff, pre-paid cards so that if the card gets compromised at best the thieves get a hundred bucks.

    Had it not been for my defenses in place for my main account I would have been out thousands of bucks.

  • IRONMANAustralia

    Wow! How can I take advantage of this amazing offer?