Originally launched over a decade ago as a budgeting tool for youngsters shopping and gaming online, Mygiftcardsite.Com have come a long way since with a host of mature prepaid propositions which help you do a lot more than just budget your spend.
What exactly are Prepaid Cards
Prepaid Atm Cards or Prepaid Bank Cards, as they are also known, are essentially like bank issued debit or charge cards though with 1 or 2 major differences; unlike bank issued cards, there is not any credit or overdraft facility and you also can only spend utilizing your prepaid card after you have loaded it with the appropriate funds. Hence, these are essentially a “pay before” solution.
The Initial Prepaid Card: Budgeting and Control
Pre paid Cards were originally brought to the united kingdom around the time of the dotcom boom in the event it started to become clear that youngsters could be spending a significant proportion of their time online – shopping, gaming and chatting.
Several innovative businesses realised that they would need a tool to permit these youngsters to create purchases on the web and hence, pre paid cards were introduced with a relatively low level of regulation and sophistication.
The obvious benefits of these Www.Mygiftcardsite.Com were that they allowed youngsters the freedom to manage their finances and develop money management skills and whilst also permitting them to understand financial responsibility in a controlled environment where they might not be able to overspend or enter into financial difficulty. Furthermore, it allowed parents to use online account management tools to monitor balance, spend and transaction history this provides you with them the comfort that they were still in charge.
Hence, the initial pre paid cards proved very popular as tools for budgeting and control but there is lots more to pre paid cards than just budgeting.
Prepaid Cards Today: Benefits beyond Budgeting
Since the prepaid market has matured, so possess the products. We now have specific cards for travel, money transfer, poor credit history, shopping, gifting, youth and using pre paid cards has extended beyond just consumers to companies that are using prepaid cards as payroll and expenses cards as well as payout cards.
Some of the ways in which growing prepaid industry maturity helps extend the advantages of Prepaid Card beyond just budgeting include usage as
A prepaid card for rewards or discounts since there are a few exceptional prepaid cards which offer discounts across shopping, groceries, petrol as well as other day to day purchases.
A General Spend card for those who don’t use a bank account, or are newcomers for the UK and you should not use a credit rating.
As being a Travel Card for those that will be going abroad and choose to carry cash on a card or are trying to find a much better rate than that offered by high street exchange bureaus.
As being a Money Transfer or Money Share card for people who wish to share their funds with friends and family around the globe
As being an Internet Payment Card for risk averse spenders who do not want to buy online using their Www.Mygiftcardsite.Com Mastercard or for those who do not have a credit/debit card to be able to avail online shopping offers.
As an Anonymity Card for people who wish to protect their identity online from fraudsters or are keen to avoid embarrassing bank statements
Being a Payroll and Expenses card for anyone employees who would like their wages to get wttnpa over a card and save cheque cashing fees or those employers who want to pay their staff using a card rather than cash/cheque
What is clear is that be it the benefits of pre paid cards for budgeting or beyond, there is undoubtedly a sufficient basis for everyone to get a prepaid card inside their pocket.