Cash cards are also known as “pre-paid cards” which means, they are completely reloadable and can be used to withdraw money out from an ATM machine. The best part about it is that, you do not need to open a deposit or checking account.
So how exactly can you withdraw your money out from your cash card?
The procedure is completely similar to a debit card where all you have to do is to insert your cash card into an ATM machine.
Next step is to enter your PIN. Make sure that you cover the keypad of the ATM machine when entering your secret PIN number.
Once you gained access to your account, choose Withdraw from the selections and then enter your desired amount that you want to withdraw.
Wait for the ATM machine to process your transaction which should take around 5 seconds before it hands your money out.
And finally, count your money and then take your cash card and receipt before you leave.
Take note, most cash cards available do have withdrawal fees. If you are withdrawing money from an ATM machine that is not affiliated to the provider of your card then your withdrawal fee will cost higher.
You might be wondering about what are cash cards used for. Why don’t you just open a bank account and apply for their credit or debit card since their uses are exactly the same.
Here are the following reasons why some individuals prefer to use cash cards over their credit or debit cards:
Controlling their Spending
If you are the type of person who has a bad spending habit then using a cash card might be a good solution to your issue.
What most people do is that, they deposit the amount of money that they can spend on their cash card. This can be on a daily or monthly basis. With only their cash card available for their spending, this helps them train and manage their budget.
Interestingly, cash cards are actually appealing to families who want to control their children’s spending. Parents can put money into their children’s cash card which is limited to the amount to spend for their needs.
Purchasing Online
Did you know that there are already countless victims of individuals who used their credit or debit card online and got their entire bank completely wipe out?
In order for you not to be included on those lists of victims, you should use cash cards since it is an alternative to credit or debit card. With it, you can use it to make low-cost purchases from online stores, pay for certain services, or even make donations.
If it happens that someone got cleverly made an unauthorized access to your cash card, at least the only money that you are going to lose is the amount that you previously loaded into your card. Your cash card is also not tied to the information on your checking account.
Control Over their Use
Ultimately, the best reason and advantage why some individuals prefer to use cash cards is their ability to control over their use. It literally prevents them from over spending way above their budget.
So how exactly can you withdraw your money out from your cash card?
The procedure is completely similar to a debit card where all you have to do is to insert your cash card into an ATM machine.
Next step is to enter your PIN. Make sure that you cover the keypad of the ATM machine when entering your secret PIN number.
Once you gained access to your account, choose Withdraw from the selections and then enter your desired amount that you want to withdraw.
Wait for the ATM machine to process your transaction which should take around 5 seconds before it hands your money out.
And finally, count your money and then take your cash card and receipt before you leave.
Take note, most cash cards available do have withdrawal fees. If you are withdrawing money from an ATM machine that is not affiliated to the provider of your card then your withdrawal fee will cost higher.
What are the Uses of Cash Cards
You might be wondering about what are cash cards used for. Why don’t you just open a bank account and apply for their credit or debit card since their uses are exactly the same.
Here are the following reasons why some individuals prefer to use cash cards over their credit or debit cards:
Controlling their Spending
If you are the type of person who has a bad spending habit then using a cash card might be a good solution to your issue.
What most people do is that, they deposit the amount of money that they can spend on their cash card. This can be on a daily or monthly basis. With only their cash card available for their spending, this helps them train and manage their budget.
Interestingly, cash cards are actually appealing to families who want to control their children’s spending. Parents can put money into their children’s cash card which is limited to the amount to spend for their needs.
Purchasing Online
Did you know that there are already countless victims of individuals who used their credit or debit card online and got their entire bank completely wipe out?
In order for you not to be included on those lists of victims, you should use cash cards since it is an alternative to credit or debit card. With it, you can use it to make low-cost purchases from online stores, pay for certain services, or even make donations.
If it happens that someone got cleverly made an unauthorized access to your cash card, at least the only money that you are going to lose is the amount that you previously loaded into your card. Your cash card is also not tied to the information on your checking account.
Control Over their Use
Ultimately, the best reason and advantage why some individuals prefer to use cash cards is their ability to control over their use. It literally prevents them from over spending way above their budget.
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