Prepaid Card
/ˈpriːpeɪd kɑːrd/
Definitions
- (n.) A payment card loaded with funds prior to use, enabling transactions without incurring credit.
She used a prepaid card to pay for her online purchases.
- (n.) A card issued in advance by a financial institution or merchant, allowing access to a predetermined monetary balance.
The company distributed prepaid cards as employee incentives.
Forms
- prepaid cards
See also
Commentary
Prepaid cards differ from credit cards because they require funds to be loaded beforehand and are not linked to a line of credit.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.