Originally launched over ten years ago as being a budgeting tool for youngsters shopping and gaming online, Mygiftcard have come a long way since with a host of mature prepaid propositions that help you do a lot more than just budget your spend.
Exactly what are Prepaid Cards
Prepaid Atm Cards or Prepaid Credit Cards, because they are also known, are essentially like bank issued debit or credit cards but with one or two major differences; unlike bank issued cards, there is absolutely no credit or overdraft facility and also you can only spend using your prepaid card when you have loaded it using the appropriate funds. Hence, they are essentially a “pay before” solution.
The Initial Prepaid Card: Budgeting and Control
Pre paid Cards were originally brought to great britain at about the time of the dotcom boom if it started to become clear that youngsters would be spending a significant proportion of their time online – shopping, gaming and chatting.
A few innovative businesses realised which they would require something to allow these youngsters to make purchases online and hence, pre paid cards were introduced with a relatively low amount of regulation and class.
The most obvious benefits of these Mygiftcardsite Balance were which they allowed youngsters the liberty to handle their finances and develop money management skills and whilst also letting them find out about financial responsibility in a controlled environment where they might not be able to overspend or enter into financial difficulty. Furthermore, it allowed parents to utilize online account management tools to monitor balance, spend and transaction history thus giving them enhanced comfort they were still in control.
Hence, the initial pre paid cards proved extremely 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
Since the prepaid market has matured, so have the products. We currently have specific cards for travel, money transfer, a bad credit score history, shopping, gifting, youth and the usage of pre paid cards has extended beyond just customers to firms that are utilizing prepaid cards as payroll and expenses cards as well as payout cards.
A number of the ways in which growing prepaid industry maturity helps extend the 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 those who don’t have a bank account, or are newcomers towards the UK and you should not use a credit history.
As being a Travel Card for people who are getting abroad and prefer to carry money on a card or are searching for a much better rate than that supplied by high-street exchange bureaus.
As a Money Transfer or Money Share card for those who want to share their funds with friends and family around the globe
As an Internet Payment Card for risk averse spenders that do not want to order online with their Www Mygiftcardsite Com or for individuals who do not have a credit/debit card in order to avail online shopping offers.
As being an Anonymity Card for people who want to protect their identity online from fraudsters or are keen to avoid embarrassing bank statements
As a Payroll and Expenses card for those employees who would like their wages to be wttnpa over a card and save cheque cashing fees or those employers who want to pay their staff employing a card as opposed to cash/cheque
What is clear is the fact that whether it be the advantages of pre paid cards for budgeting or beyond, there is definitely a sufficient basis for everyone to possess a prepaid card inside their pocket.