What are the advantages of using preloaded debit cards?


Quick Answer

Preloaded debit cards tend to be safer to carry than cash, which is one major advantage. Other advantages include worldwide functionality and the ability to reuse the card as many times as the carrier wants.

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Full Answer

Prepaid debit cards tend to be best for select groups of consumers. They are ideal for teaching young people how to budget because there is a limit to how much the user can spend and no opportunity to go over the limit. Prepaid cards are also good for travellers, since if they are lost or stolen they prevent unauthorized users from accessing the card holder's main bank account and funds.

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