What does prepaid mean as I am looking to open a bank account and do not know what this means?

by , 3 months ago•Open Question
Related:Personal Finance•Money•Current Accounts

I do not have a clue about bank accounts, what does prepaid mean on some accounts? Help please!

Answers (1)

Prepaid means you 'load' a card (acts like a debit card, but is processed as a credit card in machines) with money in advance of spending. You can't borrow on a prepaid card.

by slgrah, 3 months ago

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