Prepaid debit cards are the most suitable solution for the ones who couldn’t afford a credit card for themselves. The process of getting a debit card is much easier and simpler than the credit card. Hence there are a lot of people whose set out to get a debit card instead of a credit card.
However,since you didn’t have to give out cash it many time become difficult to locate where you have spent the balance and how you spend. Hence the cost of the card therefore increases. You can get check onevanilla balance at an instant. Hence you should be aware of the expected fees that may arise and hence take up every step to reduce it.
Read the Fine Print
There are some cards which charge a fee for withdrawing cash at an ATM, fees for activating the card, fees for not using the card, yearly fee and many more. Check for such kinds of charges while using your debit card. It is better to be informed.
Monitor Your Card Activity
Statements like credit and debit cards are not automatically used by prepaid debit cards. So, it is important to keep a track of the money that you are spending. You Can do so by registering in the Website of the prepaid card and you can view your online card activity. Although some of the card companies could charge you a minimal fee for this it is worth it as you get complete information regarding your card.
Avoid Losing Your Card
Prepaid cards do not have the same protections like that of debit cards or credit cards. So, if anyone finds out your prepaid card, they can use up the balance in your cardand they might not even get caught. Everything about these is written in the terms and condition of the card company and thus you need to read it before applying for a prepaid card. By doing so, you would know about your liability in such conditions. Moreover, replacing your card might also need a fee. So, don’t lose your card or else you are up for some great trouble.
Get rid of extra cards
If you are the owner of multiple cards then you are sure to be the victimof-of multiple unexpected fees. You have one card or many the whole mechanism is the same.you dine receiveextra benefits. Instead,you have to pay the extra amount to maintain the cars. The unexpected cost increase in the multiplecards. Hence it is best if you instead of havingmultiplecards carry only one or at most two. This would significantly reduce the number of cash and fees that would drain otherwise.
Conclusion
These are some of the ways through which you can reduce the cash flow out of the account. In hand,cash gives you an onsite verification of where you are spending your cash. However, that is not the case in case of a debit card. It is true that the debit cardhas helped us a lot in making the transition easier but saying yourself is in your hand.