what is a Prepaid & Debit card

[shivkumar]

Hi,

Firstly happy new year everyone..

I got a new rupay debit card.. the card has "debit & prepaid" printed on face.. is this something different from normal debit card..

how do we load & use prepaid balance..

 

[RAMESH BABU N]

Which bank ? Which card ?
Without full details, you will not get a proper answer to your query.

 

[shivkumar]

Which bank ? Which card ?
Without full details, you will not get a proper answer to your query.

The cards from from Indian Bank & Bank of India.. rupay debit card.. attaching stock image from banks website of same..

 

[RAMESH BABU N]

First lets see 2 cases.

Case 1

Basically, all DEBIT cards (also called by some banks as ATM cards or ATM-cum-DEBIT cards) are linked to the balances held in the linked SB/CA/OD/FD... accounts. Banks also issue Gift Cards which are not linked to such accounts but are exactly like those Gift Cards issued by non-banks.

Case 2

If issued by non-banks, they are called PRE-PAID cards or PRE-LOADED cards as these contain balances held in the linked electronic accounts (but not in any physical bank accounts). They are balances held in e-wallets. NCMC Cards, Metro cards, Gift Cards, Shopping Cards, Telepgone cards.. fall into this type.

Now, back to the question.

The first card (in the attached images) which is a common card for issual in both the above scenarios.

The 2nd card (in the attached images) is a NCMC card which is primarily for case 2 customers of that bank.

Junio (and others too) have also launched such prepaid NCMC cards.

 

[RAMESH BABU N]

In simple terms,

If a card is linked to your bank account, it's a DEBIT card. Trxn directly hits that account.

If not, it is a prepaid/wallet card.

Functionally, both look similar n work on similar lines.