Prepaid credit cards are gaining popularity among consumers who are reaping the benefits of using them. One of the most significant advantages is that they can be used at ATMs in the same way that a traditional credit or debit card can. Knowing how to use a prepaid credit card at an ATM can assist you in maintaining good credit scores and keeping your debts to a minimum, among other things.
Part 1 Withdrawing Money from the ATM
1. Visit an ATM that has been approved. To make use of your prepaid credit card, go to an ATM that is operated by the financial institution that issued the card. You can also use your card at any ATM that displays one of the network logos that are printed on the back of the card. Complete your transaction by inputting your PIN number.
Check the network brand on both your card and the ATM to see if they are the same one. When using a Visa prepaid card, for example, you would look for ATMs that accept Visa or that have the same Visa logo as the one on your prepaid card to withdraw money.
Many credit cards have a daily limit on the amount of money that can be withdrawn from your account. Check your Cardholder Agreement to see if there is a limit on how much you can spend.
Using ATMs that are associated with your card will also reduce the amount of fees charged for withdrawals.
2. Make sure to insert your card. To use the ATM, insert your card and enter your PIN number. After that, the machine will inform you of the amount of the withdrawal fee. You have the option to either continue or cancel your transaction at this point. When asked which account you wish to use, select “checking” from the drop-down menu.
Suppose you want to withdraw $20, but you have to pay a $3.50 fee on top of that; your withdrawal amount is $23.50.
3. Keep in mind that there may be additional fees. If you want to check the balance on your card, avoid using an ATM. Check the balance on your card using online banking or the app provided by your card issuer. If you check your card balance at an ATM, you may be charged a balance inquiry fee by some credit cards.
It is possible that the ATM owner will charge you a fee in addition to the fee you pay to your card issuer when you withdraw money from an ATM.
If your prepaid card has ATMs that are part of its network, you will not be charged the additional ATM owner fee if you use one of these ATMs. If you use an ATM that is not part of the network, you will be charged a fee.
Part 2 Getting a Prepaid Card
1. Look around for a credit card. Prepaid cards are available in a variety of denominations and with a variety of fees and withdrawal options. Examine a variety of playing cards to determine which one is most effective for you. Because you intend to use your card at an ATM, look for a card that provides you with access to a large number of ATMs and allows you to withdraw money for free or at a low cost. You don’t want to have to pay money every time you use your ATM card, so you avoid doing so whenever possible.
Walmart MoneyCard, PayPal Prepaid Mastercard, Direct Express, upside Visa, Green Dot, and American Express Serve are just a few of the best prepaid debit cards you can get your hands on.
Prepaid debit cards such as the NetSpend Fee Advantage Plan, NetSpend Pay-as-you-Go Plan, and the AccountNow Gold Visa Prepaid card are among the lowest-rated options available. When compared to other credit cards, these cards charge higher fees.
2. Fill out an application for a card. Once you’ve identified a credit card that meets your requirements, visit the card issuer’s website and complete an application. You should receive approval almost immediately. After that, the card issuer will mail you your card. It is important to contact the company if your card does not arrive when you expect it. This will ensure that the card was sent and did not end up in the wrong hands.
When your new prepaid credit card arrives in the mail, make sure to activate it right away. You will not be able to use it until it has been activated on your computer.
To activate your card, simply follow the on-screen instructions. Typically, to activate the card, you will simply dial the phone number printed on the sticker attached to the front of the card.
3. Select a PIN with four digits. When you first activate your card, you’ll be prompted to select a PIN. You will be able to use your card at an ATM if you have a PIN. In addition, if you ever misplace your card, a PIN will provide an extra layer of protection. No one will be able to use your card at an ATM if they do not know the PIN number that is associated with it.
Some cards do not require you to enter a PIN until you make your first transaction with them. Whatever PIN you choose will be used for all future transactions, regardless of how you got there.
Make sure your PIN is a 4-digit number that you can easily remember but that others will not be able to guess from your memory. If someone gains access to your credit card and uses a sequential PIN such as 1234 or 1111, you may become a convenient target for identity theft.
Part 3 Adding Money to Your Card
1. Direct deposit is the best option. The option for your paychecks to be directly deposited into your bank account is likely available through your employer. Employers should request a direct deposit form from you, and you should provide your bank routing number as well as your credit card number to them. You will be able to receive your money much more quickly than you would if you were waiting for a check to arrive in the mail.
If your employer deposits your funds, your funds should be available the same day they are received.
Check with your employer and the provider of your prepaid card to ensure that you have completed all of the necessary paperwork before leaving work.
In most cases, there are no fees associated with depositing money into an account via direct deposit.
It is also possible to receive government benefits and tax refunds via direct deposit.
2. Make a cash deposit on your card. By visiting a loading location, you can add money to your card and keep it loaded. MoneyGram, Western Union, Reloadit, Rapid Reload at Walmart, and GreenDot Reload are just a few of the options available. For some locations, you will be required to fill out a service form and hand it over to the agent along with the cash in hand. Depending on the location, you can hand over the cash and your card to the cashier, and the cashier will load the money onto your card.
In most cases, there is a fee associated with loading cash onto your card. Fees are typically between $3 and $5 per transaction.
Your funds should be available within minutes of submitting your request.
3. Checks can be added to your card. You can use your mobile phone to add checks to your card without having to leave your house. This is typically accomplished through the use of a smartphone application. Take a picture of the check with your phone and use it to load the check onto your credit or debit card.
Inquire with your credit card issuer about which apps are compatible with your card.
Depending on how quickly you require access to your check, you may be charged a fee for this service. If you require your check to be available within minutes, you are more likely to incur additional charges. If you are willing to wait a few days, it is possible that there will be no fee.
Always double-check the fees associated with this option before proceeding.
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