We like Dollar General for deals.

Dollar Generals do sell prepaid cards, just like a Walgreens or any other discount store. You can find prepaid Visa and prepaid MasterCards at Dollar General stores. They will be hanging on a kiosk with prepaid phone cards.

The problem with these cards, if you consider it a problem, is that you can’t easily research the company behind the card. What fees do they have? What sort of customer support can you expect? Can you check your balance online? In contrast, getting a MiCash prepaid MasterCard is an online process. Look, you are already on our website, so why not click around and learn more about our card

Prepaid Credit Cards at Dollar General

A lot of people confuse the terms “prepaid credit card” and “prepaid debit card.”

Dollar General in Every Town?

Bloomberg reports the biggest of the U.S. dollar discount stores, had a record decline in New York trading after reporting slowing growth in same-store sales. Fact is, there aren’t too many more places Dollar General can go. They are already in many small towns. Hence, the company is focused on same store sales. It, like many merchants, like people to use prepaid debit cards to shop there.

Today, the electronic network for debit and credit card transactions is vast. Credit cards have been around since the mid 20^th century, and earlier versions even existed at the end of the 19^th century. The first ATM cards appeared in the early 1970s and were limited to allowing people to withdraw money from a checking account, but could not be used for purchases. By the 1980s debit cards emerged as an alternative to checks for making purchases with money out of one’s personal checking account. Over the past decade,   “prepaid debit cards” have become increasingly popular. Also issued by banks, they work like traditional debit cards, but are not connected to a checking account.

Now, the lines are blurring between the two forms of payment—debit or credit—for both merchants and consumers. When someone pulls out a plastic card with the MasterCard or Visa logo on it to pay for food, gas, or a store purchase, he or she may conduct the transaction using a signature, or in the case of a debit card, by entering a PIN number on a check out keypad. The signature payment method runs on a credit card network. The PIN payment method runs on a debit network. Merchants pay a fee in either case (to MasterCard or Visa) as part of their doing business.  This fee is slightly lower in the case of PIN transactions, which is why some retailers like Wal Mart and CVS Pharmacy encourage debit card users to pay by PIN.

The real difference between credit cards and debit cards has more to do with the funds being transferred. When you buy something with a credit card, you are not spending your own money but rather borrowing money against a credit line that the bank issuing the card has extended to you. The only limit on your spending is the limit imposed by the credit card company. So, when you make a payment towards your outstanding balance you are paying back the credit card company for earlier purchases.

Here’s what happens behind the scenes when you make debit card purchase. You are actually accessing your own money that is sitting in a bank account. As the transaction happens, money is transferred out of your account, travels across the network, and is transferred into the merchant’s bank account. PIN purchases happen in real time, so the amount in your account is verified and transferred immediately. Signature transactions, which travel across the credit card network, do not have to happen in real time but can happen hours later in a “batch” process with other transactions. The transfer of funds from the cardholder to the merchant can also be delayed, some times as long as two days, depending on when the batch process is executed.

So what’s the difference between a prepaid debit card and a bank debit card or ATM card? The real differences are more technical than actual. For both kinds of cards, you deposit your own money with the card account and withdraw it as you see fit, either by making ATM cash withdrawals or by using the card for purchases. A bank card or ATM card (sometimes called a checkcard) is connected to a checking account. Typically, there are no fees associated with purchases, or when using an ATM within the bank’s network. In contrast, a prepaid card is not connected with a checking account but stands alone. There is usually some fee structure in place for using the card. For example, each purchase may generate a 90 cent fee, or the card holder may pay a flat $10 per month for using the card. A prepaid card is a good choice for people who would like to get a debit card but have trouble opening a checking account.

Prepaid cards like the MiCash Mastercard are also a convenient alternative to credit cards, because prepaid cards that bear the Visa or MasterCard logo are accepted worldwide like credit cards. They are a good option for people with bad credit or a lack of a credit history, because they do not require a credit bureau check to be approved.

Prepaid debit card users and people looking for ways to share money with friends or family who may live in another state have a couple of alternatives to the expense of wire transfers.

Flickr image by Quaziephoto

The first method is to get a prepaid card that offers a “companion card” or second card tied to the card account. At MiCash we call this the Maestro card. This second card can be loaded with money that is transferred from the primary prepaid card account it is connected to. These transfers can be done online by logging into your card account or by calling customer service. The charge is $2 to transfer money from a MiCash card onto the Maestro companion card. Once the MiCash Maestro companion card is loaded with money, it can be used for purchases wherever Maestro cards are accepted throughout MasterCard®’s debit card network (but please note that it won’t have the MasterCard logo printed on the face of the card). Any applicable transaction fees will also apply for each use of the Maestro card. The Maestro card can be used until it is exhausted of funds (but it can also be reloaded with more funds).

Another equally convenient way to share funds is to have your family member simply get a MiCash MasterCard, and then you can help them out by adding money to the card using Greendot MoneyPaks®. Here’s how it works. Let’s say you want to put money on your college student’s credit card only they can’t get a credit card due to the recent changes in credit card laws, so they have a prepaid card instead. What you do is go to any CVS, Walgreens, K-Mart, Wal-Mart, 7-Eleven, or other outlet that sells Greendot MoneyPaks. At the checkout register add any amount of cash from $20 to $500 to the card. A $4.95 service fee will be added to your total. Your Greendot MoneyPak will have a unique card number identifier. Next, you can call the toll free number on the Greendot MoneyPak or visit www.moneypak.com and transfer the money from the card (identified by its unique number) to your MiCash Card, identified by its unique account number. Within just a few minutes, the money transferred using this Greendot Moneypak method will appear on your MiCash card, ready to use.

Flickr image by Teresia

A prepaid debit card allows you to pay for gas at the pump with plastic. However, you may not realize that many gas stations will preauthorize as much as $50 or even $75 on the card if you use a signature transaction instead of a PIN transaction. This is also known as a “block” on the card. The reason it happens is that the gas station doesn’t know if you have enough money on your card to cover your gasoline purchase. Find out more about blocks on the FTC website.

In an MSN Money article British Petroleum spokesperson Sarah Howell explains, “We want to make sure that we’re protected, that we get payment for the gasoline.”

A PIN transaction at the pump (or inside the gas station) is in real time, and avoids the block or hold on your card. However, because signature transactions are “offline” and not in real time you may experience a block for a few hours or even several days until the transactions are processed in a “batch” process at some point in the future.

In the case of a checking account debit card, if you have less than the block amount in your account, you may be hit with an overdraft charge, even though your actual charge is less than your balance. For example, suppose your pump transaction is $27 and you have a $50 balance in your checking account. The pump pre-authorization of $75 causes you to be temporarily overdrawn.

The MiCash prepaid MasterCard protects you from any overdraft fees because whenever you attempt a transaction that is more than the cash you have loaded onto your card, the transaction will be rejected at the point of sale. Not all prepaid cards are alike and some do allow overdrafts and charge overdraft fees.

The bottom line?

• Use your PIN number when paying at the pump, or
• Have at least $75 on your card to cover any pre-authorization “blocks” on signature point-of-sale transactions.

A MiCash Prepaid Debit Card Perk: Easy Card-to-Card Fund Sharing

A prepaid debit card system from MiCash isn’t just about keeping money safely stored for cashless transactions. One of the most convenient services that MiCash offers is its ability to quickly sharetransfer funds to nearly anywhere around the world, without having to rely on banking groupswire transfers. This lets cardholders and their loved ones receive funds quickly even if they are separated by long distances across the world.

Unlike most other money transfer and banking services, MiCash does not charge a percentage rate on the amount of money being transferred from one card account to another. What it does is to charge a set fixed rate of $2 per every card-to-companion MiCash card transaction. It makes it easier for the recipients to receive the exact amount of money intended for them, loaded safely into their prepaid debit card from MiCash.

MiCash offers these and other stellar financial services. Visit their website at MiCash.net to discover more.

Prepaid Debit Card Brings Cashless Spending, and Added Fiscal Privacy, Too

A prepaid debit card has a number of distinct advantages over regular credit card accounts. For instance, debit card accounts do not require the client to undergo a credit check in order to be approved. This allows them to more readily take part in convenient, hassle-free, cashless spending services.

The ability to purchase items without having to carry cash can help keep finances safer, and easier to manage and account for. Credit card services, however, often have elaborate security procedures to ensure that the potential cardholder is good for the credit. This puts them under much scrutiny – previous debts, outstanding loans, a track record of paying bills and other concerns are all part of the picture, which most people may feel to be an invasion of their privacy.

Prepaid debit card services like that of MiCash do not need a credit check. Simply call 1-866-642-2741 toll free, and learn how to avail of convenient cashless spending.

Using a Prepaid Debit Card as a Payroll Card

SUMMARY: There are many benefits to using a prepaid debit card as your business’ payroll card. Prepaid payroll cards save both time and money for both employers and employees.

BODY: Most companies nowadays are turning toward electronic payment options such as direct deposit and the use of a prepaid debit card for payroll funds. By encouraging employees to opt for electronic of payroll funds, employers get to cut down on expenses. It costs around 1-2 dollars per pay period to issue paper check to company employees. That amount is cut down to just twenty cents per employee when the payment transfer is instead done through electronic accounts. While this seems like a miniscule deduction, the resulting savings are quite substantial.

While direct deposit remains as the most popular electronic payroll fund option, it is not exactly the most accessible. Unbanked workers who have no affiliation with a financial institution cannot avail of the direct deposit option. Issuing a prepaid debit card or paycard leverages the financial advantages of electronic funds transfer without having to force employees to open a bank account.

Aside from giving companies an efficient and cost-effective means of distributing payroll fund, prepaid debit payroll cards provide employees with the convenience of accessing their funds wherever and whenever needed, so long as there is a compatible ATM machine nearby. It also enables for a more secure method of bills payment and making purchases—even online.

Prepaid debit payroll cards work almost like a full service bank account card. The big difference here is that there are no strings attached to a prepaid debit card account. This is probably why paycards are usually issued to temps, freelancers or contractual employees.

Resource Box:

MiCash Inc. is one of the pioneering providers of prepaid debit card services. The company aims to allow everyone, even underserved citizens to have indiscriminate consumer access, security and convenience. To learn more about the company and its products and services, visit http://www.micash.net or call 866-642-2741.

Prepaid Debit Card: Pay before Buying, not After

Managing your finances does not just take strong willpower and discipline, but smart financial solutions and good habits as well. Both of these virtues are manifested in a prepaid debit card. These debit cards allow you to have many of the conveniences of a credit card, without the constant renewal of debts at the end of the month.

The problem with credit cards is that they allow you to live beyond your means. Although finances can be accounted for so that you can afford everything that you pay for on your credit card, credit cards also present a readily available opportunity to spend on impulse. When it comes to the point that you can no longer afford your credit card bill, they add insult to injury by charging you interest on what you were not able to pay immediately.

Paying for everything in advance via a prepaid debit card from MiCash forces one to feel the weight of your expenses, before a dime is even spent. Visit MiCash.net or call 1-866-642-2741 for more information.

The Prepaid Debit Card Advantage

Summary: A prepaid debit card offers much of the conveniences being offered by traditional credit cards, but without having the consumer worry about overspending. Many of today’s major card companies including Visa and MasterCard are offering prepaid debit cards.

Body: A prepaid debit card is a great alternative to using the credit cards, and is even better in a lot of ways. It’s an ingenious financial invention that addresses the most common problems people face with mismanaged credit cards – mounting monthly bills.

Because of the need to come up with a financial solution to address the growing concern of the steadily growing number of users defaulting on their credit card payments, the debit card was created. Major card companies such as MasterCard, Visa and American Express are now offering prepaid debit cards.

What are prepaid MasterCard and Visa debit cards? Just how more advantageous are they than traditional credit cards?

If you use prepaid services such as mobile phones, then you’ll have an idea of how prepaid debit cards work. You can add funds or reload the debit card by visiting a location that offers prepaid card loading services. Once the account has enough funds, you can use it in a very similar way as you would use a regular credit card. The beauty of using a prepaid MasterCard or Visa debit card, however, is that the amount of your purchase will automatically be deducted from your card and you can keep swiping your card until the balance is used up.

With a prepaid debit card you can say goodbye to mounting piles of debt while still enjoying the convenience of cashless purchases, among other benefits, as you would using a credit card.

Resource Box:

MiCash Inc. is one of the leaders in providing financial services, offering one of today’s most innovative financial tools, the prepaid debit card from MasterCard. Prepaid debit cards offer many of the conveniences that a credit card brings, but without the risk of overspending. To find out more, visit http://www.micash.net or call 866-642-2741.

Secure and Trouble-Free Sharing of Funds through a Prepaid Debit Card

SUMMARY: Having a prepaid debit card is often associated with cashless transactions in both online and brick and mortar stores. Prepaid debit cards, though, offer more benefits than that, including safe and easy sharing of funds.

BODY: Opening a prepaid debit card account brings a whole lot of benefits to the cardholder. Among these perks is getting to shop at a large number of stores or dine in restaurants without needing cash, bringing security to the user.

Another great advantage of having a debit card is the easy sharing of funds either to fellow cardholders or through an extension card. In any case, sending of funds with the use of the debit card is often way safer than sending cold cash or check.

The cardholder simply has to authorize the transfer of funds by making a phone call to the card provider or enabling the process online. The recipient with a separate prepaid card account under the same provider may then get the money using his card.

For a minimal fee, the primary cardholder can also share money with a companion card. The transaction may as well be authorized by phone or through the Internet.

The companion card offers the same benefits as the primary card, such as cashless transactions where the prepaid debit card is accepted. Depending on the card provider, the user may also withdraw cash from ATMs found locally and abroad.

Contingent on the size of the card provider’s network, adding money to the debit card is a hassle-free experience, with reloading centers also conveniently located in grocery stores and other easily accessible spots. So sending cash to a loved one in another state or even abroad is trouble-free with prepaid debit cards.

Resource Box:

A premier provider of financial services to underserved consumers, MiCash Inc. offers a general purpose prepaid debit card that is reloadable in thousands of reloading stations across the US. The card also allows safe and easy transfer of funds to another cardholder or through a companion card. Learn more about this service by visiting http://www.micash.net or by calling 1-866-642-2741.