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Grumpy said:
Um yes!
Click to expand...

Um, no.

What is the difference between a prepaid card, a credit card, and a debit card?

Answer: Unlike a debit card, a prepaid card is not linked to a bank account. Generally, when you use a prepaid card, you are spending money that you have already loaded onto the card.

Prepaid cards vs. debit cards:

A prepaid card is very different from a bank account debit card. A bank account debit card is linked to your checking account. A prepaid card is not linked to a checking account. Instead, you are spending money you loaded onto the prepaid card in advance.

In most cases, you can’t spend more money than you have already loaded onto your prepaid card. Overspending can occur with a checking account for some types of uses, and with a bank account debit card if you have “opted in” to your bank’s overdraft program. This means that your bank may charge you a fee for covering the cost of a purchase or ATM withdrawal that exceeds what you have in your account. Your bank will also require you to repay the overdraft.

In addition, right now prepaid cards may have fewer consumer protections than debit cards, such as those that apply if the card is lost, stolen, or other unauthorized charges appear. The CFPB has issued a rule requiring all prepaid cards to offer these protections.

Prepaid cards vs. credit cards:

Prepaid cards are very different from credit cards. This can be confusing because both types of cards may have a card network logo like Visa, MasterCard, American Express, or Discover on them. When you use a credit card, you are borrowing money. Generally, when you use a prepaid card, you are spending money you loaded onto the card in advance.

https://www.consumerfinance.gov/ask-cfpb/what-is-the-difference-between-a-prepaid-card-a-credit-card-and-a-debit-card-en-433/
 
Legion said:
Um, no.

What is the difference between a prepaid card, a credit card, and a debit card?

Answer: Unlike a debit card, a prepaid card is not linked to a bank account. Generally, when you use a prepaid card, you are spending money that you have already loaded onto the card.

Prepaid cards vs. debit cards:

A prepaid card is very different from a bank account debit card. A bank account debit card is linked to your checking account. A prepaid card is not linked to a checking account. Instead, you are spending money you loaded onto the prepaid card in advance.

In most cases, you can’t spend more money than you have already loaded onto your prepaid card. Overspending can occur with a checking account for some types of uses, and with a bank account debit card if you have “opted in” to your bank’s overdraft program. This means that your bank may charge you a fee for covering the cost of a purchase or ATM withdrawal that exceeds what you have in your account. Your bank will also require you to repay the overdraft.

In addition, right now prepaid cards may have fewer consumer protections than debit cards, such as those that apply if the card is lost, stolen, or other unauthorized charges appear. The CFPB has issued a rule requiring all prepaid cards to offer these protections.

Prepaid cards vs. credit cards:

Prepaid cards are very different from credit cards. This can be confusing because both types of cards may have a card network logo like Visa, MasterCard, American Express, or Discover on them. When you use a credit card, you are borrowing money. Generally, when you use a prepaid card, you are spending money you loaded onto the card in advance.

https://www.consumerfinance.gov/ask-cfpb/what-is-the-difference-between-a-prepaid-card-a-credit-card-and-a-debit-card-en-433/
Click to expand...

Except that a prepaid credit or debit card is tied to the issuing bank exactly as a standard debit card is tied to the fund's that the account it is drawn against. That sport is the only difference.
 
Grumpy said:
Except that a prepaid credit or debit card is tied to the issuing bank exactly as a standard debit card is tied to the fund's that the account it is drawn against. That sport is the only difference.
Click to expand...

Unlike a debit card, a prepaid card is not linked to a bank account.

Prepaid cards vs. debit cards:

A prepaid card is very different from a bank account debit card. A bank account debit card is linked to your checking account. A prepaid card is not linked to a checking account. Instead, you are spending money you loaded onto the prepaid card in advance.

In most cases, you can’t spend more money than you have already loaded onto your prepaid card. Overspending can occur with a checking account for some types of uses, and with a bank account debit card if you have “opted in” to your bank’s overdraft program. This means that your bank may charge you a fee for covering the cost of a purchase or ATM withdrawal that exceeds what you have in your account. Your bank will also require you to repay the overdraft.

In addition, right now prepaid cards may have fewer consumer protections than debit cards, such as those that apply if the card is lost, stolen, or other unauthorized charges appear. The CFPB has issued a rule requiring all prepaid cards to offer these protections.


https://www.consumerfinance.gov/ask-cfpb/what-is-the-difference-between-a-prepaid-card-a-credit-card-and-a-debit-card-en-433/
 
Legion said:
Unlike a debit card, a prepaid card is not linked to a bank account.

Prepaid cards vs. debit cards:

A prepaid card is very different from a bank account debit card. A bank account debit card is linked to your checking account. A prepaid card is not linked to a checking account. Instead, you are spending money you loaded onto the prepaid card in advance.

In most cases, you can’t spend more money than you have already loaded onto your prepaid card. Overspending can occur with a checking account for some types of uses, and with a bank account debit card if you have “opted in” to your bank’s overdraft program. This means that your bank may charge you a fee for covering the cost of a purchase or ATM withdrawal that exceeds what you have in your account. Your bank will also require you to repay the overdraft.

In addition, right now prepaid cards may have fewer consumer protections than debit cards, such as those that apply if the card is lost, stolen, or other unauthorized charges appear. The CFPB has issued a rule requiring all prepaid cards to offer these protections.


https://www.consumerfinance.gov/ask-cfpb/what-is-the-difference-between-a-prepaid-card-a-credit-card-and-a-debit-card-en-433/
Click to expand...

Prepaid debit or credit is it's own account and not tied to a particular account. That is what I said and those funds are held by the issuing bank. Sorry sport you can repeat the same thing over and over it does't change the facts. That a prepaid card like a regular debit card is limited to the amount funds in each type account.
 
Grumpy said:
Prepaid debit or credit is it's own account and not tied to a particular account. That is what I said and those funds are held by the issuing bank. Sorry sport you can repeat the same thing over and over it does't change the facts. That a prepaid card like a regular debit card is limited to the amount funds in each type account.
Click to expand...

The US gobblement agency that regulates such matters disagrees with you.

Sport.
 
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