does anyone know how a prepaid mastercard works?

Question

i want to know if you have to pay the required amount everyone month or just when you want to money on the card...plz let me know exactly how it works

Answer 1

a prepaid card just means that you've gone to the bank and paid outright for whatever the value of the card is. for example, if you purchase a card with a $75 dollar value, you hand the cashier/teller ... $75 dollars and they "charge" the card with that amount of money.
There ARE some banks that will charge you a fee for this but many do not. There are also merchants that will try to charge you to use the card in their stores so check before you buy. Make sure before you buy a prepaid card from a bank that you'll have the full amount that you pay for and, before you purchase from a store, make sure that they won't charge you a fee for using the card.

These are great to give as gifts.... especially to young people. Once the amount of the card is spent, the card is useless.

Answer 2

With NetSpend's All-Access MasterCard you pay only when you use the card:

http://www.prepaidmastercardnow.com/

It's $1 for each purchase transaction.

If you prefer, you can get the Visa which costs $9.95 per month for unlimited free purchase transactions:

http://www.allaccesscard.com/

Take your pick of whatever you prefer. Note that some locations charge a fee to load the card with cash (usually a couple of bucks) but PayPal and Direct Deposit loads are free.

Answer 3

Did you look on the back of the card?

If not, did you call Mastercard and ask how the pre-paid card works?

Answer 4

a prepaid credit card is just like a debit card expect you put the money toward the card and not in your account -- you do not pay anything your just refresh the card as you spend the money.