Friday, 7 November 2008

Benefits Of A Prepaid Credit Card ??




The title pretty much is the question, many of you that reside in countries that allow you to open up a PayPal account with a simple debit card or bank sort code are probably wondering why the hell would anyone need a prepaid visa card??! Well for those whom are not as fortunate to have a PayPal facility in their country they need to have some way of receiving the salary direct to their bank account.

For instance money bookers in many cases will confirm your account and up the withdrawal limit (only when you add a credit card!) PayPal will open you an account , however if you don’t have a credit card won’t allow you to add a bank account or a debit card as in certain countries debit cards and bank accounts don’t use sort codes and bank account numbers. They go by the swift code system it may seem odd to some of you but those whom are unlucky enough to reside in countries where PayPal is not allowed you will know all about this!

Money bookers have been known to close accounts down just because the account holder does NOT have a credit card. Of course to get your bank to give you a credit card you have to be earning a regular salary, BUT if you work from home and run an online business, this is difficult to prove your salary !Its a no win situation , freelance sites on the internet offer many methods of getting your hard earned cash.

Money bookers, PayPal, gold, Virtual visa (i.e. prepaid credit card) where the cash is loaded direct to your card. In many cases businesses see the prepaid visa card a method of waving goodbye to western union money transfers. Zoom of course is another method of receiving payments without a PayPal, however once again it is only available in certain countries. It really does depend where you reside and if you are fortunate enough to have a PayPal facility.


8 comments:

  1. Good info there! I didn't know MoneyBookers closed on accounts without credit cards but I do know they close on those who are not 18 or 21 (depending on state laws).

    In Singapore, the term "top-up credit card" has to be used or else locals here look upon "prepaid credit cards" as some kind of scam.

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  2. I don't have a bank account hooked in with my Paypal. It's not required here in the US anyway. I just use their debit card that they send you and it works great!

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  3. It is good to see that someone is taking the high road on the use of credit cards.

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  4. It's quite amazing how different things are from country to country - and that does not only apply to banks and finances...

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  5. I know you can get prepaid credit cards for travel pre loaded with Euros or dollars and these can save you a fortune in exchange rates. Great tips!

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  6. Good post.. Very informative.. Thanks for sharing that one..

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  7. I have a paypal account and have never owned a credit card, nor prepaid card. I am a tight wad and if it's something I need, I just have to save for it. I do have a paypal account set up from the debit card. That's as far as it goes.

    I can understand and appreciate that not everyone can do this. I guess prepaid credit cards come in handy in that way.

    Jen

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