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What is the difference between prepaid and debit cards?

Answered on July 20, 2010
Updated on July 20, 2010

The content is accurate at the time of publication and is subject to change.

Amy Miller

Debit cards are tied to your bank account and prepaid cards are not. To start using a prepaid card you need to load it by making a direct deposit of your paycheck or government benefits, a transfer from your bank account, or by making in-person deposit at one of the retail locations. With prepaid cards you cannot overdraft or overspend, you can only spend what you have pre-deposited.

All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.

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