No, all reloadable prepaid cards have some sort of limitations.
The limitations vary from one reloadable prepaid card to the next but they all limit how much money goes into or out of the reloadable prepaid card.
No, reloadable prepaid cards do not build nor hurt your credit score. If you were given a reloadable prepaid card as a gift from a parent or friend and you did not realize that the card came with a monthly fee, don't worry about it. Not paying the fee will not hurt your credit score in any way. The worst that could happen is that your reloadable prepaid card will be deactivated by the company. If you have money on that card and the card gets deactivated the company will commonly issue you a check for your balance. On the flipside regardless how many times you’ve paid a bill on-time, it does not get reported to the large credit bureaus.
Yes, reloadable prepaid cards do have routing numbers. Although reloadable prepaid cards are not linked to a bank account like debit cards are, reloadable prepaid cards are still link to an actual bank. The majority of reloadable prepaid cards that are being offered in the market are issued by Bancorp bank or Metabank. All banks have account & routing numbers.
To find your reloadable prepaid card account & routing number simply log into your account and find the "Direct Deposit" information. If you signed up for a reloadable prepaid card online, then there should be a direct deposit form included in the envelope with your reloadable prepaid card. The direct deposit form also contains your reloadable prepaid card account number and routing number.
You can obtain a prepaid visa card online from several different companies that are offering them such as Green Dot, NetSpend, Greenlight, Famzoo etc. You can get a prepaid visa card in stores such as CVS, Walmart, Rite Aid, Kmart, 7-Eleven and other participating stores. There is usually a fee of $5-$7 when purchasing the cards from retails like these. The last and final way of getting a prepaid visa card is online from websites such as Amazon, Target or Giftcard.com.
The prepaid Visa cards sold in these outlets are generic gift cards and cannot be reloaded. You may also get a virtual card instead of a physical card. This is great because you can spend the funds immediately after a few hours (usually 2-4 hours).
The typical amount of money you can add on a prepaid Visa card is from $20 - $500. If you want to add more money then you must sign up for a reloadable card and create an account. Each individual reloadable card has a limit set on the maximum funds you are allowed to have on the card balance and how much money you can add in a single day/week/month.
Using a prepaid Visa card online is pretty simple. Below is a quick and simple example.
- Step 1. Visit an ecommerce site or web store that you like. Once you find the product click the "Add to Cart" button or "Buy Now" button.
- Step 2. Click "Checkout"
- Step 3. You will be required to enter your shipping information such as first and last name, address, city, state and zip code. You will likely be given the option to enter the billing address. For some people their delivery address is different from their billing address. The billing address is the address you provided when you created an account with your prepaid Visa card provider. The address must match what’s on your account or it may cause problems with the transaction. If your billing address is the same as your delivery address click on the option that says something similar to "Same Address".
- Step 4. During this step you will likely be asked to provide your reloadable prepaid card info. You will have to provide:
- Card Number - This is the 14 – 16 digit numbers located on the front of the card.
- Expiration Date- The expiration date is also located on the front of the card. It is commonly formatted like this: MM/YY, two digit month and two digit year.
- CVC Number – The CVC number is a 3 digit number found on the back of your reloadable prepaid card. It’s located right next to the line where you are supposed to leave your signature. American Express cards are the only cards that contain 4 digit CVC numbers and it is commonly located on the front of the card.
You can change your reloadable prepaid card pin number if you feel someone else knows your pin or have been using your card. Start simply by logging into your account. In the dashboard there should be an option to change your pin number. Various reloadable prepaid card have different ways of wording it.
Yes, you can deposit a check to your reloadable prepaid card. Many reloadable prepaid cards have Android/ITunes apps with a mobile check deposit capability built right into it. Some reloadable prepaid cards use third party companies and apps that they‘ve partnered with that handles check deposits. It’s actually smarter and more convenient to just get your money direct deposited into your reloadable prepaid card.
What Reloadable Prepaid Card Doesn’t Require My SSN?
There are no reloadable prepaid cards that exist, where you can create an account without providing a SSN (Social Security Number). It’s actually illegal for companies to offer this. The US government created a law requiring users to reveal their identity when moving money to prevent money laundering. However, you can purchase a prepaid Visa card or an OneVanilla card. These gift cards allow you to load money onto the card and spend money anywhere online without ever revealing your SSN or identity.