There are two types of prepaid payment cards that can potentially be used to pay bills: prepaid debit cards and network-branded gift cards like those that carry the Visa or Mastercard logo. Prepaid debit cards come in a few different forms and offer the opportunity for a convenient money storage account that can take the place of complex checking. Gift cards that carry the Visa or Mastercard logo are typically sold in different denominations and can be used for online shopping or bill payment if sufficient balances are available.
Before diving into bill payments, it can be good to understand the two types of prepaid payment card options a little better. Prepaid debit cards can work like network-branded gift cards and any electronic payment card that is loaded with funds considered deposit assets rather than credit liabilities. As the market for prepaid debit expands, more and more, consumers are gaining access to a simplified electronic money storage solutions that can take the place of traditional bank checking.
Yes, bill payments can be made with a prepaid debit card if there are sufficient funds loaded to the card. All prepaid debit cards partner with one of the four major payment card processors: Visa, MasterCard, Discover, or American Express. Generally, the card processor will dictate whether or not an electronic payment card is accepted by a company for a bill payment. Store gift cards typically can't be used for bill payment unless with that specific retailer. Beyond that, most prepaid cards will work in the same manner that any regular payment card will.
Transactional fees are usually not necessary although some companies may charge for payments over the phone or express payments.
Many prepaid debit cards can be bought in a retail store like Walmart, Target, or Walgreens. The process for buying them is similar to a gift card. The deposit amount may be specified or flexible based on the amount a buyer is seeking.
Other prepaid debit cards may be easily obtained online. All types of prepaid debit cards will come with an online account that can be easily accessed for account viewing and maintenance. When you first obtain the card, you will need to register, activate it, and peruse your online account options if you so choose.
Online, you will have the chance to view account balances , holds, transaction history, and registration information. Depending on the card's options, you may also be able to make card-to-card transfers as well as set up some one-time or automated recurring payments.
Cardholders can simply call customer service if there is a problem. Oftentimes, prepaid debit cardholders can also add money to the card via a website or retail store chain which can be simpler than making deposits at a bank.
All prepaid cards come with their own terms and special provisions as decided on by the card issuer. In this scenario, PayPal can automatically withdraw funds from your connected bank account or card to pay for your utility bill.
If you do not have a PayPal debit MasterCard, you can go to the PayPal website to sign up for it as long as you have an account, and it is in good standing. Generally speaking, you must be 18 years old and have a verified PayPal account linked to your bank account and a credit card to qualify for one. According to the company, it does not pull credit as part of the debit card approval process. With this card, you are able to set up automatic or recurring payments so you don't have to worry about remembering when your bill is due.
If a charge comes through, you need to have enough in your account to cover it, otherwise, it will draw on your back-up funding source such as, your bank account or credit card on file. In the event you have no back-up funding source linked to the account, the payment will simply be declined and you will have to remit payment to your utility company another way. Maya Black has been covering business, food, travel, cultural topics and decorating since Pay your bill for free from the palm of your hand using your bank account - payment will post to your FPL account within minutes.
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