For many, debit cards are a way to get rid of huge cash transfers and writing checks. Nonetheless, a debit card is not only unhelpful in building your credit, but also can actually bring your credit score down, if you overdraft and carry a negative balance.Most customers use prepaid cards to avoid the temptations and problems of traditional methods. They see prepaid cards as a safe haven to avoid the risk of overdraft fees and as a commitment device, or a tool to restrict their ability to overspend or to hinder interest charges.
Getting a prepaid card is usually easier than getting a credit card, especially if you have credit problems. In addition, You can't get into debt using a prepaid card, since you cannot spend more than the balance you have deposited. Worst case scenario is that you may be charged a fee which in most cases is much lower than what a bank would charge you for getting a credit or debit card.
Going beyond a payment gateway provider, PayPax prepaid card is another option of the system and a better alternative for Debit cards.
In this post we have provided you with everything you need to know about a PayPax prepaid card and its benefits.
A PayPax prepaid card is a physical card which you can associate with any currency balance in your PayPax account. It is a safe way to avoid the risk of overdraft fees and interest charges and is faster than any credit or debit card offered by a traditional bank. This specific card may be loaded and reloaded with funds for use via direct deposit, a transfer from a linked PayPax account with fees applied.
A PayPax prepaid card is directly linked to your PayPax account. Cardholders can make purchases or receive funds through ATMs with any currency balance, using this card.
Note that a PayPax prepaid card is only available for users with 200 Trust Level (TL) and more. You can check your TL through your PayPax account from the “Dashboard” by scrolling down. The maximum balance for a PayPax prepaid card is $5000 per transaction and $20000 per month.
A PayPax prepaid card can be used to eat, drink and shop everywhere Debit Mastercard is accepted. This card can be loaded with funds for use via direct deposit, a transfer from a linked PayPax Account, or in person at Mastercard supported ATMs. More than 210 countries and territories today support Mastercard, giving you the ability to make purchases or withdraw cash without the risk of overdraft fees and interest charges.
PayPax prepaid card fees vary from 1-2% depending on the country you are making a purchase or withdrawing the cash from. The card issuance will also charge you with a $20 fee. If you are planning to get a PayPax prepaid card, simply fill the application form through your PayPax account and receive the card within a few days post registration.