Prepaid Card - Usage & Discussion

[praful47]

I am unaware about the prepaid cards .
Anyone can explain what is prepaid card and what are its pros and cons .
Can we withdraw money from Atm ?
Transaction limit ?
Any other limitations?
I use slice for emergency funds.
Suggest some best prepaid cards ..
Monthly usage would be around 10k to 20k

 

[s1t2y3a3m6]

I am unaware about the prepaid cards .
Anyone can explain what is prepaid card and what are its pros and cons .
Can we withdraw money from Atm ?
Transaction limit ?
Any other limitations?
I use slice for emergency funds.
Suggest some best prepaid cards ..
Monthly usage would be around 10k to 20k

Prepaid card: opposite of credit card i.e. first load then spend

You can withdraw with charges only if service provider allow you to do so.

A no. of limitations are there varies according to service provider.

Tide lelo...Tide hai to mauka hai

 

[praful47]

Prepaid card: opposite of credit card i.e. first load then spend

You can withdraw with charges only if service provider allow you to do so.

A no. of limitations are there varies according to service provider.

Tide lelo...Tide hai to mauka hai

Tide se acha surf Excel hai ...

Can you give a brief summary of your experience with tide .

 

[s1t2y3a3m6]

Tide se acha surf Excel hai ...

Can you give a brief summary of your experience with tide .

Overall thik thak hai.

But why you need a prepaid card ? Load karna aasan hai but rotation & withdraw me charges lagega. Better use a credit or debit card. Previously they are giving huge cashback on target spend but now it's comes to decrease.

 

[Astrella]

No use for prepaid cards imo, its like a debit card but with a lot more restrictions. only good for underage users that want a card without opening acc.

 

[Card_Crafter]

Tide lelo...Tide hai to mauka hai

Kaunse merchants par cashback deta hai Tide? I know only PZ.

 

[s1t2y3a3m6]

Kaunse merchants par cashback deta hai Tide? I know only PZ.

Allmost all offline and online including wallet except some like utility, education, bill payment

 

[RAMESH BABU N]

I use JUNIO and FABMONEY - both prepaid (preload) RuPay cards. I have taken both physical cards. Initially, both were giving cashbacks for loading money into the card. Nowadays - that's a bit reduced.

We get 1% to 1.5% cashbacks on almost all expenditures using these cards. At times, even 2%. Quite happy.

Both have their own Apps with OK features. Both RuPay cards work flawlessly on offline POS machines n in online use. Most UPI Apps also handle these prepaid/preload cards.

I am happy with them.

 

[praful47]

I use JUNIO and FABMONEY - both prepaid (preload) RuPay cards. I have taken both physical cards. Initially, both were giving cashbacks for loading money into the card. Nowadays - that's a bit reduced.

We get 1% to 1.5% cashbacks on almost all expenditures using these cards. At times, even 2%. Quite happy.

Both have their own Apps with OK features. Both RuPay cards work flawlessly on offline POS machines n in online use. Most UPI Apps also handle these prepaid/preload cards.

I am happy with them.

Sir , how you transact via UPI with prepaid card ?
Is there any risk associate?

 

[RAMESH BABU N]

Sir , how you transact via UPI with prepaid card ?
Is there any risk associate?

No problem encountered by me on both cards. It is treated as a Debit Card. Almost similar advantages n disadvantages (if any experienced). Luckily, I am very happy. Basically, I give these prepaid cards (loaded with less than 1000 Rs) to our maids/office staff for doing shopping for us from the nearby grocery shops or petrol bunks. I do not wish to give my regular Credit Cards (with good limits) to them or any such outsiders.

 

[praful47]

No problem encountered by me on both cards. It is treated as a Debit Card. Almost similar advantages n disadvantages (if any experienced). Luckily, I am very happy. Basically, I give these prepaid cards (loaded with less than 1000 Rs) to our maids/office staff for doing shopping for us from the nearby grocery shops or petrol bunks. I do not wish to give my regular Credit Cards (with good limits) to them or any such outsiders.

In your situation sir , it's good ....
Can we withdraw cash ?

 

[RAMESH BABU N]

In your situation sir , it's good ....
Can we withdraw cash ?

I think yes. I read it in their brochures.

But, I have not tested it.

In fact, I/we did not use any of our CCs/DCs/PPCs till date on any ATM since my retirement in 11/2012 . More than 11 years now.

 

[praful47]

I think yes. I read it in their brochures.

But, I have not tested it.

In fact, I/we did not use any of our CCs/DCs/PPCs till date on any ATM since my retirement in 11/2012 . More than 11 years now.

Sir, If you need cash .. how do you manage ?

 

[RAMESH BABU N]

Sir, If you need cash .. how do you manage ?

Let me tell you a secret.

Our maid servant gets cash - she gets paid in cash in another 2 houses where she works. She want credit into her bank account. We take cash from her n do UPI transfer. She need not visit branch or ATM/CDM and we too need not go to an ATM for cash.

Almost ALL our expenses are UPI based. Even autorickshaw chaps, veggie vendors, ironing lady, milkbooth guy, fruits vendor, garbage collection guy,..... ALL accept UPI.
SO, NO NEED TO GET/HANDLE CASH.

 

[Aniket]

Most UPI Apps also handle these prepaid/preload cards.

What do you meant by this?

Kindly explain it more.

 

[RAMESH BABU N]

What do you meant by this?

Kindly explain it more.

What is there to explain ? These prepaid/preload cards can also be used thru some 3rd party UPI Apps. Exactly like you add and use a RuPay DC or a RuPay CC.

 

[Aniket]

What is there to explain ? These prepaid/preload cards can also be used thru some 3rd party UPI Apps. Exactly like you add and use a RuPay DC or a RuPay CC.

Ohh, okay got your point. You meant Pre-paid card can be saved as like other Card (DC & CC) on TPAP, right?

Unfortunately, Paytm not allowed, whereas G-Pay allowed, in my case.

 

[Aniket]

What is there to explain ? These prepaid/preload cards can also be used thru some 3rd party UPI Apps. Exactly like you add and use a RuPay DC or a RuPay CC.

On which platform you were able to add/save/ tokenise Rupay Prepaid, Rupay DC and Rupay CC (not as CC on UPI) ?

Usually TPAP supports only Visa & MasterCard to be tokenised, that too varies from bank to bank. Not all cards are supported from the banks even though it's in Visa or MasterCard Network.

 

[Astrella]

On which platform you were able to add/save/ tokenise Rupay Prepaid, Rupay DC and Rupay CC (not as CC on UPI) ?

Usually TPAP supports only Visa & MasterCard to be tokenised, that too varies from bank to bank. Not all cards are supported from the banks even though it's in Visa or MasterCard Network.

I think he means tokenizing the card, like saving the card to the app for not needing to enter number every time. Rupay doesn't support tap to pay on phone yet. but its coming soon, afaik.

 

[Aniket]

I think he means tokenizing the card, like saving the card to the app for not needing to enter number every time.

If so yes, it's doable.


CC: @RAMESH BABU N

Rupay doesn't support tap to pay on phone yet.

Ohh great

but its coming soon, afaik.

Any source or leaks?