What's a prepaid debit card?

Question

iv won money on a casino and the method iv been told to use is a prepaid debit card?

Answer 1

They will probably load the money that you have won on a pre-paid debit Visa/Mastercard,  these cards can be used anywhere a Visa/Mastercard can be used.  A pre-paid debit card is a Credit card, that is used as a debit card, that is secured by your/someones money that has been deposited on this card/account, so it is being secured by your money, versus having a credit card that is not secured and has been given to you solely based on your credit standing.

Long story short, they will load/add money to a pre-paid debit card with a Visa/Mastercard logo, so that you can use where and whenever.

Answer 2

Its Money that is on a card. Its like getting a gift card.... there is only so much money on it and once you use it all.... its gone.... depending on where you got it, the casino might only allow you to use the funds at their casino unless you cash it in..... look into it at the casino you won it at.............

Answer 3

a prepaid debit card is basically a checking account without the bank.  You load money on the card using a number of methods.  These include:

- Direct deposit - have your employer put your paycheck on the card.

- Green Dot - There is something called a green Dot MoneyPak.  They work like a cashier's check.  You by them at the retail locations (WalMart, CVS, Walgreens, RadioShack, etc.).  How they work is you hand the cashier the money you want to load on your card (say $200) and they hand you the MoneyPak.  You call the phone number on the back of the moneypak and give them the prepaid card number.  The money is then loaded on yout prepaid card.

There a lot of prepaid cards and they charge amazingly high fees. Get a Bank Freedom Prepaid MasterCard. There is no activation fee and you need only be 13 or older to get one. They are at http://www.bankfreedom.com

I've really done a lot of looking into this and for the money, ease, and general flexibility, you can't bet it. Thanks

Robert