How To Transfer Money From Debit Card To Prepaid Card
With a debit card, you can use your checking account at any participating bank or credit union to make purchases. Users of certain mobile money wallets can obtain debit cards from the companies that issue them.
Paying for things online, withdrawing cash from an ATM, or even sending money to a friend is all possible with this card. Later, you’ll learn how to transfer funds from a debit card to a prepaid card.
The majority of people mistake prepaid cards for debit cards. While the two cards have the same functionality, they differ slightly in terms of how you obtain them.
A debit card requires a bank, credit union, or mobile wallet, whereas a prepaid card does not. Debit cards, on the other hand, are linked to the financial institutions listed above, whereas prepaid cards are not.
Online account management is common for prepaid card providers. To register online, you have two choices: either use your card issuer’s app or go to the issuer’s website. All that matters is what your credit card company has to say about the matter.
However, using an app to access your account is more secure than using a browser. It’s possible that a hacker could gain access to your account if your browser doesn’t have enough security to guard against phishing scams.
How To Transfer Money From Debit Card To Prepaid Card?
To transfer funds from one debit card to another, you must consider the prepaid card to be a separate financial institution from the debit card you are using. As a result, the routing and account numbers of the prepaid card will be included in the transfer.
There are two different ways in which you can transfer money from a debit card to a prepaid card.
1. Using ATM To Transfer Money
Transferring money from one card to another is made possible through the use of automatic teller machines (ATMs). As a result, by pressing a few buttons on the ATM screen, you can transfer money from your debit card to a prepaid card. You can do so by following the steps outlined below.
- Go to an ATM and insert your debit card.
- Choose your preferred language from the menu.
- To proceed, enter your debit card PIN and press ‘Yes’ to confirm your entry.
- Then, on the ATM’s display, select the “Fund Transfer” option.
- Input the prepaid card issuer and account number for the recipient.
- Choose the type of account you have. It can be either a Savings Bank Account or a Current Bank Account in a bank.
- Fill in the Amount you want to transfer and Select Correct.
- Following that, confirm the amount to be sent by clicking ‘Yes.
- The funds will be successfully transferred to the prepaid card account.
2. Using Online Banking To Transfer Money
As soon as you’ve obtained the prepaid card’s routing and account numbers, you can log into your debit card account and navigate to the money transfer section, where you can complete the transfer. ACH or wire transfers are required in this case.
ACH transfers take several days to complete, whereas wire transfers are completed in seconds or less. The advantage of ACH transfers is that they can be reversed, whereas wire transfers cannot be reversed.
Can You Link A Prepaid Card To A Bank Account?
Prepaid cards can be used without the need for a bank account or debit card to be linked to them. However, if you want to link your card to a bank account or a credit card, you can do so at your convenience. As a result, funds from your bank or credit union account will be available to top up your prepaid card balance, which is a positive development.
Best Prepaid Card Available
You can choose from a variety of prepaid cards, as long as they are suitable for your needs. The following are some examples.
- Bluebird by American Express
- Movo Virtual Prepaid Visa Card
How Does A Prepaid Card Operate?
A prepaid card functions in the same way that a debit card does. The cards do not have a link to a bank, credit union, or mobile money wallet, so reloading the card requires you to go to a specific reloading center. It is also possible to have someone send you money on your credit card.
As previously stated, prepaid cards are self-sufficient, and once the balance on the card has been depleted, the card becomes inoperable. It is important to remember that prepaid cards can be used in the same way that debit cards can. As a result, other than the method by which you obtain money to use them, there is nothing else that differs.
Debit cards are linked to a bank, credit union, or mobile wallet account for payment. Prepaid cards have no bank or credit union affiliation. But you can link them to any appropriate institution.
Debit and prepaid cards can be used to pay for goods and services, send money, and access ATMs. Debit and prepaid cards have no effect on your credit scores.
I hope you understood how you can transfer money from debit card to prepaid card. I have listed down two methods that you can use. And I would recommend using the online bank transfer method as that is more secure and instant.