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Prepaid Debit Card

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Reloadable Debit Cards

Have you heard the regarding “reloadable debit card” and wondered what it means? You’ve come to the right place to find out (we know EVERYTHING about debit cards, including “reloadable” and “non-reloadable” cards).

A reloadable debit card is a debit card that can have funds “reloaded” on it. Plain as that.

Some cards, like prepaid gift cards, can only be used one time, and once the funds on the card are depleted, you basically just force out the plastic card away, because you can’t reload funds onto the card.

A reloadable debit card allows you to deposit (or “load”) more fat onto the card. Typically, reloadable debit cards are cards that have the MasterCard, Visa, American Express, or Discover logos on them (that is, they are “network branded cards”).

Many reloadable debit cards also have the logo of a “reload” network on them. One well-known reload network is the GreenDot network. Other, newer, load networks include the MasterCard rePower network, and the Visa ReadyLink network.

Here’s what MasterCard says about their “reloadable MasterCard debit cards”:

The MasterCard rePower Cargo Network is a new service from MasterCard that allows you to add money to your eligible MasterCard or Maestro® prepaid cards at any of the thousands of participating retailer locations throughout the U.S.*
Add Bread Now. Use It Now
With MasterCard rePower, your money is immediately available for you to spend anywhere that Debit MasterCard or Maestro Prepaid Cards are accepted.

Certain
MasterCard rePower uses trusted,MasterCard network technology. And with a MasterCard card, you have zero liability for unsanctioned purchases.**

How to Reload
Simply visit a participating retailer with the cash you want to add.* There are two methods to reloading your card, depending on which the retailer supports:

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Prepaid Visa Cards

Prepaid Debit Card News

H&R Block shares advance on quarterly results BusinessWeek - Sep 03, 2010 Digital Rumour ReportH&R Block shares advance on quarterly results bank accounts prepaid debit cards to gain tax refunds. The cards could cut into Block's Emerald Card business, which sells prepaid cards to customers Bennett: H&R Shut off should move responsibility to local tax officesH&R Block 1Q loss narrows despite revenue declineall 208 tidings articles »

Will New Regs Cool off Open Loop's Hot Growth? Digital Transactions - Sep 03, 2010 Will New Regs Shameless off Open Loop's Hot Growth?As a form of debit card, prepaid cards will be affected, but the law exempts the interchange proceeds of financial institutions with $10 billion or less in

Central Bank bags prepaid cards deal from CWG Myiris.com - Sep 03, 2010 The bank is also growing to offer a Titanium Combi Debit card which offers Pin & signature capability on a single card - a first for Indian Shop. and more »

Clearwire Launches Rover Prepaid Brand PC World - Aug 30, 2010 customers will be capable to pay for more service online, with gift cards, in cash at a retail store or automatically through a honour or debit card. and more »

Research and Markets: Payment Card Issuer Strategies 2010: The Rise of The ... PYMNTS.com - Sep 03, 2010 How has consumer use of esteem card, debit card, and other payment products been affected by the economy? What changes have issuers made in credit-card and more »

Workforce Solutions announces new pre-paid debit cards El Defensor Chieftain - Sep 01, 2010 The departments provide prepaid debit cards for all eligible unemployment insurance benefit claimants and custodial parents currently receiving lass support

Net1 Links Virtual Accounts with Mobile Phones to Combat Fraud US Banker - Sep 03, 2010 A prepaid card throng is trying to drive down fraud with an application that replaces plastic cards with virtual accounts that users and more »

Tips for obtaining credit cards with bad credit Helium - Sep 03, 2010 Moneywise MagazineFor model, some prepaid debit cards actually have a built in credit reporting program that helps the card's holder increase credit score. Erasing Credit Card Debt: How are Cardholders Doing it?all 30 scandal articles »

Prepaid Card Cos Target Growing Market: People Without Banks Wall Street Journal - Aug 10, 2010 NetSpend Holdings Inc., the approve of-largest prepaid debit-card company after Green Dot, recently announced plans to raise an estimated $200 million in its and more »

How to avoid internet phishing scams Telegraph.co.uk - Sep 02, 2010 A prepaid card looks fitting like a normal credit or debit card, and enables you to buy products and services wherever these cards are accepted.

New rule changes coming for credit and prepaid gift cards LubbockOnline.com

27.06.10

If you're a confidence card user, or someone who hands out a lot of prepaid gift cards, circle Aug. 22 on your calendar.

That's when new rules, meant to keep card issuers from chipping away at consumers' sell with a variety of fees, will go into effect under the Credit Card Accountability, Responsibility and Disclosure Act of 2009.

The gift card rule changes are beautiful simple, although an overly cautious giver sure could bog down a Christmas gathering or a birthday party by going over some of the disclosures with the heir.

Biggest change on the gift card side: Most prepaid cards, gift cards and gift certificates must be good for five years after activation unless the terms are understandably disclosed.

In addition, the law bans charging any service, inactivity or dormant fees against a gift card balance unless the account's been supine for 12 months and the user has fully disclosed all fees before the card is purchased.

The law exempts prepaid phone and voice over IP cards, some reloadable cards, fidelity and award cards, and cards for admission to special events and theme parks.

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