Prepaid credit cards

A prepaid credit card is not a real credit card. A prepaid credit card is actually more of a debit card. With the difference that a prepaid credit card is not linked to a traditional bank account such as your bank card, debit card or bank card. In fact, a prepaid credit card can best be compared to a prepaid, rechargeable phone card for mobile phones.

For Los Angeles and the America, prepaid credit cards are quite innovative and were not available until recently. In contrast, they have been available for quite some time in other European countries such as England, Germany and Switzerland. Prepaid Debit Cards are also widely used in the United States and are commonplace.

You will undoubtedly already have a debit card in your wallet. Your bank card, debit card or bank card that you have received through your bank branch linked to your bank account. If you make purchases and pay with your bank card, the purchase amount is immediately debited from your account. Hence the name debit card. A prepaid credit card is not connected to a banking institution but to an e-wallet, e-account, e-money or electronic virtual online account such as PayPal and Moneybookers. Just like with your traditional bank account, you can deposit money into your e-account. After that, your prepaid credit card works just like a debit card. You can no longer be in the red with this prepaid Debit Card.

Why is it that you cannot be overdrawn with a prepaid credit card? You have no credit with this form of credit card. Money can only be spent on the pre-charged e-account. Just like with debit cards or bank contact, a check is made when the Debit Card is used to see whether the balance is sufficient. If that is the case, the payment will be processed immediately. Expenses are therefore limited to the amount that was pre-loaded.

So no credit with a prepaid credit card. That is precisely why a prepaid credit card is suitable for everyone regardless of creditworthiness and income. The minimum age for some publishers can be as low as 13 years. The budget can therefore be perfectly controlled without fear of expensive credit or expensive credit opening.

Know Your Customer - Know Your Customer (KYC)

Application procedure prepaid credit card - reloadable MasterCard

No credit check or BKR test is required for these prepaid credit cards. It is sufficient to provide a copy of your ID and proof of residence.

As part of KYC (“Know Your Customer”) controls and money laundering policies, every financial institution is required to request personal documents. These may consist of copies, scans or digital photos of identity card or driver's license and recent gas, water or electricity bill. You cannot obtain a prepaid credit card without these documents.

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