Comments on: An Overview: Prepaid Debit and Gift Cards http://masteryourcard.com/blog/2009/07/21/an-overview-prepaid-debit-and-gift-cards/ The best Credit Card Debt Blog online Wed, 02 May 2012 03:22:04 +0000 hourly 1 http://wordpress.org/?v= By: Sophie http://masteryourcard.com/blog/2009/07/21/an-overview-prepaid-debit-and-gift-cards/comment-page-1/#comment-135836 Sophie Wed, 27 Jul 2011 16:59:22 +0000 http://masteryourcard.com/blog/?p=1282#comment-135836 Hi, Ron. The laws, regulations and policies vary from one country or state to another, and from one provider to another. Many transit authorities provide prepayment cards that can be registered to a specific user so that funds are not lost if the card goes missing. Gift cards don't usually provide any compensation if the card is lost or stolen. It's difficult to give more detail than this, as so much depends on location and company policies. Hope that goes some way toward answering your question! Hi, Ron. The laws, regulations and policies vary from one country or state to another, and from one provider to another.

Many transit authorities provide prepayment cards that can be registered to a specific user so that funds are not lost if the card goes missing. Gift cards don’t usually provide any compensation if the card is lost or stolen. It’s difficult to give more detail than this, as so much depends on location and company policies.

Hope that goes some way toward answering your question!

]]> By: RON S. http://masteryourcard.com/blog/2009/07/21/an-overview-prepaid-debit-and-gift-cards/comment-page-1/#comment-135835 RON S. Wed, 27 Jul 2011 16:24:28 +0000 http://masteryourcard.com/blog/?p=1282#comment-135835 Transit authorities are using prepaid card for fares. Are they subject to the same regulations as a gift card? The concept of a prepaid card and gift card are similar, but is there a legal difference between the two? Transit authorities are using prepaid card for fares. Are they subject to the same regulations as a gift card?

The concept of a prepaid card and gift card are similar, but is there a legal difference between the two?

]]> By: Dawn http://masteryourcard.com/blog/2009/07/21/an-overview-prepaid-debit-and-gift-cards/comment-page-1/#comment-44083 Dawn Tue, 16 Jun 2009 13:25:39 +0000 http://masteryourcard.com/blog/?p=1282#comment-44083 They are also a good gift for grads - especially if you are sending it out of state and you don't know what stores they shop. The "to be" college students can use them for books or other supplies. The one downside that I found when I received one myself as a gift is keeping track of that balance... especially as you get towards the end. When you have $2.81 left,it can be kind of awkward to hand to a clerk and say, "Can you put $2.81 on my card and I'll pay the rest in cash?" Most are really understanding, but you might want to pick someone who seems helpful and a time when the lines aren't packed. Also, if you are running into that fee (again, this has happened to me) it can be really hard to know your balance. "How much did they take out and when? It was $14.85 yesterday... how much is on it today?" That kind of thing. You can get around it, there are 800 numbers on the card, but personally I vowed that the next one I got one, I would not use it for a bunch of small purchases, but instead I would use in one big transaction fairly soon after getting it, just to alleviate that hassle. They are also a good gift for grads – especially if you are sending it out of state and you don’t know what stores they shop. The “to be” college students can use them for books or other supplies. The one downside that I found when I received one myself as a gift is keeping track of that balance… especially as you get towards the end. When you have $2.81 left,it can be kind of awkward to hand to a clerk and say, “Can you put $2.81 on my card and I’ll pay the rest in cash?” Most are really understanding, but you might want to pick someone who seems helpful and a time when the lines aren’t packed.

Also, if you are running into that fee (again, this has happened to me) it can be really hard to know your balance. “How much did they take out and when? It was $14.85 yesterday… how much is on it today?” That kind of thing. You can get around it, there are 800 numbers on the card, but personally I vowed that the next one I got one, I would not use it for a bunch of small purchases, but instead I would use in one big transaction fairly soon after getting it, just to alleviate that hassle.

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