Prepaid debit cards are a revolutionary step in the financial industry. Don’t have a bank account? Or suffer from overspending? Or just looking to get some amazing benefits on your card without using credit cards? A prepaid Debit Card is here to make your life hassle-free and answer all your wishes! The benefits of using a prepaid debit card for businesses and individuals are many including the easy-to-use interface, ease of reloading, safer than using hard cold cash, etc!

Read on to know more.

What is a Prepaid Debit Card

A prepaid Debit card is a mode of payment similar to the plethora of payment options available today. They are most similar to credit cards and debit cards but with a twist. For a debit card, you must hold an active savings account in a bank. For a prepaid debit card, you need not be associated with any financial institution. 

Prepaid Debit cards are mostly associated with a branded card network like Rupay, Visa, or Mastercard and can be used at online stores, ATMs, and in stores.

Benefits of prepaid debit cards for businesses and individuals

If you are someone who is looking for a smooth payment method without holding a bank account with any financial institution, a prepaid card is the best answer for you. Even if you are someone who has a bank account, a prepaid debit card has a lot of benefits in store for you. A prepaid debit card is an easy and safe way of enjoying all the benefits of a credit card with a debit card. 

Read on to know how a prepaid card can change your life. 

No Credit Checks

Getting a credit card comes with a lot of hassle. You must have a bank account with some financial institution. You must have a regular income and your credit score should be on point to get a credit card with a decent limit. A prepaid debit card ensures resolution to all these issues. You create your limits by uploading as much money as you want. You do not need a bank account and can enjoy special benefits on different websites. 

Categorise your Spending

Prepaid cards are a good way to spend your money wisely and keep your expenses in check. Prepaid debit cards use budgeting tools. These tools allow you to add a fixed amount to your card for spending categories, such as shopping, dining, etc. The categorization allows you to segregate your expenses based on how much you are willing to spend on different aspects. 

Limit Losses

Online transactions can at times come at a cost. Yes, we try our best to not get caught up in fraudulent activities, but there is no denying that such activities happen. If you are someone who has found yourself in such a situation before - it is possible you are scared or more careful in making online payments. Prepaid debit cards take this fear away. Prepaid debit cards are extremely safe and give you the option to protect your checking bank account from becoming public. 

Overcome a poor credit / Banking history

A poor credit score is a nightmare for many. Even a small mistake like paying a bill a bit late can ruin your credit score. Spending money that is not yours can sound fun but prove to be a hassle. Using credit cards can also hamper your credit score in the future. Safeguard your credit score with a prepaid debit card! A prepaid debit card limits your expenses and protects your credit score. 

Send and receive money with a prepaid card

On top of all the amazing benefits, a prepaid debit card even allows you to send and receive money. A prepaid debit card allows you to set up regular deductions so that you do not miss out on any payments. 

Shop Online

Online shopping has turned all of us into shopaholics. It has become common to splurge and fall prey to impulse buying. A prepaid debit card is again at your rescue. The prepaid debit card segregation feature ensures you do not overspend your essential budget on shopping. At the same time, prepaid debit cards offer special discounts on brands, ensuring a smooth buying experience.  

Withdraw cash from ATMs

Your prepaid debit card works like any other card for withdrawing cash. You can easily withdraw cash at any ATM of any service provider. Like a normal debit card, there might be some meager costs involved. 

Conclusion

Over the years several steps have been taken to digitise the economy. However, the process has not always been smooth or easily adaptable. Prepaid debit cards try to resolve all the challenges of the money market. They are an easy way of making payments. It ensures the safety of payment and prevents you from using your checking account details. Prepaid debit cards also help India by taking a positive step in the financial education of children. Giving a prepaid or preloaded debit card to children makes them more responsible for their finances. 

Zokudo is a primary Business and Personal Prepaid Card provider. By having a Zokudo card you can enjoy all the benefits mentioned above along with cashback and Zokudo reward points. You can convert Zokudo points into cashback and use them to make payments. Zokudo prepaid debit card offers great benefits from its 50+ brand partners.

Get in contact today and enjoy seamless payments forever!

FAQs

What is the purpose of a prepaid debit card?

Prepaid debit cards are used to make online purchases, make bill payments, ATM cash withdrawals just like any other debit card. They are accepted nearly everywhere since they are backed by major card networks like Rupay, Visa, Mastercard, etc. 

Can you use a prepaid card for business?

Yes! Prepaid debit cards are often used for businesses. Businesses mostly provide their employees with prepaid debit cards for additional perks and privileges. 

What is the advantage of prepaid debit cards for the company?

A prepaid debit card is beneficial for the business to grant the employees varied perks and benefits. A business or company can give their employees external perks like medical allowance, travel allowance in the form of a card to avoid unnecessary taxes.