Originally launched over ten years ago as being a budgeting tool for youngsters shopping and gaming online, Www.Mygiftcardsite.Com came a long way since with a host of mature prepaid propositions that help you do more than just budget your spend.
What are Prepaid Cards
Prepaid Atm Cards or Prepaid Credit Cards, as they are also known, are essentially like bank issued debit or credit cards however with 1 or 2 major differences; unlike bank issued cards, there is absolutely no credit or overdraft facility and you also can only spend utilizing your prepaid card once you have loaded it with all the appropriate funds. Hence, they are essentially a “pay before” solution.
The First Prepaid Card: Budgeting and Control
Pre paid Cards were originally introduced to the UK at about the time from the dotcom boom if it started to become clear that youngsters could be spending a significant proportion with their time online – shopping, gaming and chatting.
Several innovative businesses realised they would need an instrument to permit these youngsters to help make purchases on the web and hence, pre paid cards were introduced having a relatively low amount of regulation and sophistication.
The most obvious benefits associated with these Mygiftcard were that they allowed youngsters the liberty to handle their finances and develop money management techniques and whilst also letting them understand financial responsibility in a controlled environment where they could not be able to overspend or get into financial difficulty. Furthermore, it allowed parents to make use of online account management tools to monitor balance, spend and transaction history thus giving them the comfort that they were still in charge.
Hence, the initial pre paid cards proved very popular as tools for budgeting and control but there is lots more to pre paid cards than just budgeting.
Prepaid Cards Today: Benefits beyond Budgeting
Because the prepaid market has matured, so have the products. We currently have specific cards for travel, money transfer, poor credit history, shopping, gifting, youth and the usage of pre paid cards has extended beyond just consumers to companies that are using prepaid cards as payroll and expenses cards as well as payout cards.
A number of the ways that growing prepaid industry maturity helps extend some great benefits of Prepaid Card beyond just budgeting include usage as
A prepaid card for rewards or discounts because there are a few exceptional prepaid cards which offer discounts across shopping, groceries, petrol and other day to day purchases.
A General Spend card for individuals who don’t have a bank account, or are newcomers to the UK and do not have a credit rating.
Being a Travel Card for those that are getting abroad and would rather carry money on a card or are looking for a much better rate than that provided by high-street exchange bureaus.
Being a Money Transfer or Money Share card for people who desire to share their funds with friends and family around the globe
As an Internet Payment Card for risk averse spenders who do not wish to order online with their Www.Mygiftcardsite.Com Mastercard or for those who do not have a credit/debit card to be able to avail internet shopping offers.
As an Anonymity Card for individuals who want to protect their identity online from fraudsters or are keen to avoid embarrassing bank statements
Being a Payroll and Expenses card for all those employees who desire their wages to become wttnpa on a card and save cheque cashing fees or those employers who would like to pay their staff using a card as opposed to cash/cheque
What exactly is clear is that whether it be some great benefits of pre paid cards for budgeting or beyond, there is surely a sufficient reason behind everyone to possess a prepaid card in their pocket.