Prepay Visa Cards
A Visa Electron pre-paid card works like a Visa credit or debit card, with the exception that each transaction must be electronically authorised. Your Prepaid Electron card is accepted at over 12 million electronic merchant locations worldwide, in over 160 countries. Visa Electron is accepted at over 1 million ATM's displaying the Visa or PLUS payment mark. A Visa prepay card is a type of Visa card that is pre-loaded with a set amount of money, offering cardholders convenience, security and control.
A prepay Visa card is just like a normal credit or debit card. It carries all the normal card features, such as a card number, expiry date and security code, and can be used at most places that accept a conventional Visa card.
However, instead of being linked to a bank account (like a Visa debit card) or providing a line of credit (like a Visa credit card), the amount you can spend is limited by the value that's been pre-loaded onto the card.
This means that you can enjoy all the convenience, ease of use and security of a Visa card along with the ability to control the amount that you spend. A whole variety of Visa prepaid cards are now being offered by banks, websites and high street retailers. Popular options include:
- Convenience cards are ideal for people who want to segment or separate their card spending
- Youth cards are specifically designed for younger people, enabling them (and their parents) to control and monitor spending
- Gift cards are a safe, convenient and fun way to give money to friends or family members
- Travel cards are used for spending money abroad, enabling you to separate out your holiday spending
- Virtual cards are specifically designed for online spending.
Depending on the option chosen, a prepay Visa card may either be:
- Disposable – rather like an electronic gift voucher, it can be used until all the funds are spent, then thrown away
- Re-loadable – like a prepaid mobile phone account, when the value is running low, it can be topped up and used again
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