What is it?
- The cards typically are loaded with funds by the consumer or a third party, such as an employer.
- Consumers can use the cards to make payments, store money, get cash at ATMs, receive direct deposits and send money to other consumers.
- you can’t overspend or incur interest charges
- Fees are the main downside
- to return merchandise retailers will issue the refund only to the same card so you have to make sure you keep the card