A Prepaid Visa Debit Card: The Better Choice for Consumers

Outlined below are just a few (of the many) benefits of prepaid Visa debit cards that are often overlooked.

• No Debt
This fast paced world filled with enticing credit card offers has millions of people in debt. With a prepaid card, the money on the card is your hard earned money. The routine of swiping a credit card carelessly can be extremely detrimental. When using a prepaid visa debit card, your mind set is different than with the credit card philosophy of "buy it now, pay for it later."

• Free Direct Deposit
As with traditional banking accounts, you can have part or all of your pay checks directly deposited into your debit card account. Additionally, you can set up direct deposit for social security payments and other government benefits. If you don't have a bank account, paycheck cashing services can be expensive and a hassle to get to after work. With a prepaid visa debit card, the deposits are free and the money from your pay check is automatically placed onto your card.

• More Secure than Cash
Whether you're going on trip or simply don't like the hassle of carrying cash, a prepaid visa debit card has proved safer time and time again. Your card, account, and pin numbers are unique so they can only be accessed by you. Carry a small and discrete card instead of a wade of money. If your card gets stolen or lost, you can cancel it and transfer funds easily, if your cash gets lost or stolen, you are simply out of luck.

• Pay Bills Online
Why mail a check or go directly to a merchant to pay with cash? The internet has made paying for almost any bill online fast and reliable, as it should be. Take advantage of this and use your prepaid visa debit card to pay for your gas, telephone, or electric bills. Many times you can remove the hassle associated with bill paying, such as getting the payments in on time or budgeting for the bill cost, by using a prepaid visa debit card.

• Convenient (use anywhere Visa debit cards are accepted)
Often, people think that not having a traditional bank account will take away some of their freedoms when it comes to the ease of spending money. Almost anything you can do with a standard banking account, you can do with a prepaid debit card. You can get cash from ATMs worldwide and add money to your card with most checking and savings accounts. With a prepaid debit card, you will never be inconvenienced. From bank transfers, to online shopping or renting a car, there a variety of prepaid visa debit cards allow you to spend your funds, any place, and any time.

• No Surprises
Banks change account plans and have stipulations buried within their contracts. With a prepaid visa debit card, there are no hidden fees and no interest charges. You'll always know where you money is located without being charged a fee to keep it safe and secure. Unlike traditional debit cards, you won't have to worry about overdraft fees; you can only spend the money loaded onto the card. You can check your balance 24/7 online, via text, or with a customer service representative, so there are never any surprises when it comes to your money.

Michael is currently a 4th year accounting student at the University of Texas at Austin. He is particularly interested in business finance and debt. Additionally, he is writing his thesis on prepaid debit cards and prepaid credit cards for teens, distinguishing how young people learn the importance of handling their money only by hands on experience.