Prepaid Credit Cards UK

A prepaid credit card is simply a plastic card that lets the consumer purchase a product or service by first loading the card with money from their bank account, and then using it to make purchases on the internet, on the high street, or over the phone, as well as using it like an ATM card.

These card balances can be accessed online meaning that you can review the card balance at any time and see exactly what money you have remaining on the card. Different cards have different terms and conditions and customers need to understand these in order to use the prepaid credit card to its best advantage.

Prepaid cards have been developed only recently, and the first cards of this sort were issued in America, but this new alternative to using a credit or debit card has taken off around the world and there are many cards now available in many different countries.
Benefits, Uses & Security Features

The companies who issue prepaid cards have set the back end systems up to ensure that these cards are as safe to use as credit or debit cards. Some companies charge monthly service fees, others charge every time you use the card, and new ways to increase the profile and functionality of the card are always being looked at.

A prepaid card has many built in security features. It has an account number, a signature panel and a magnetic stripe. The cards unique account number is probably the most important of these as it deals with the main transaction network and needs protection. So that people don’t use an incorrect account number, companies use various laws of statistics to help in protection.

The second security feature – the signature panel, is designed to stop criminals from erasing the signature and putting their own there just as it is on a credit card. The magnetic stripe on the back of the card is the third security feature and again this works in much the same way as it does on a standard credit or debit card. There are also other features built in such as holograms which make it impossible for the card to be duplicated.

Prepaid cards are manufactured using a process that layers plastic laminations together. It involves a variety of stages including compounding, moulding, printing, lamination, die cutting and embossing.

Because these cards have many applications today and are available to people for whom credit cards and debit cards may be denied as well as to those who do not wish to use cards linked to their existing bank accounts, the demand for these cards has grown hugely in recent years. Prepaid cards have helped facilitate easy money transaction and make this new style of card one of the most useful innovations of science and technology today.