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what is a Prepaid & Debit card
- Thread starter shivkumar
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- Replies 5
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- debit card prepaid
RAMESH BABU N
TF Legend
Which bank ? Which card ?
Without full details, you will not get a proper answer to your query.
Without full details, you will not get a proper answer to your query.
shivkumar
TF Select
The cards from from Indian Bank & Bank of India.. rupay debit card.. attaching stock image from banks website of same..
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RAMESH BABU N
TF Legend
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.
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.
Attachments
Debit vs prepaid card
RAMESH BABU N
TF Legend
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.
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.
vizovcccard
TF Neo
It simply means your card can function as both — a regular debit card (linked directly to your bank account) and a prepaid card (that can store a separate balance for wallet-type payments, such as transit or NCMC use). You can use it normally for ATM withdrawals and purchases, or load funds to the prepaid wallet portion through your bank app for metro and contactless transactions.
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