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How prepaid cards ensure that you don't go overboard on your expenses

They're also safer than credit and debit cards, and online transactions; just make sure you don't overload your prepaid card with too much money

Topics
pre-paid cards | online spending | BankBazaar

Sarabjeet K Sen 

Online spending has been growing rapidly since the prolonged Covid-19 induced lockdowns in the country. However, excessive dependence on credit cards can lead to going overboard with spending.

One way to avoid overspending is to switch to prepaid cards, which are issued by banks and fintech firms. The oldest form of the prepaid cards many salaried individuals are familiar with, are the ‘Meal Cards’ or coupons to buy food items or groceries and pay restaurant bills. New generation prepaid cards are issued without such restriction but subject to rules and regulations by banks ...

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First Published: Fri, January 08 2021. 16:26 IST
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