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  • #280 BBB 09-24-09 22

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    bmoak
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    This document provides information about pre-paid bank cards, also known as stored-value cards. It lists some pros and cons of these cards, such as their flexibility to be used anywhere credit cards are accepted but also fees that can be as high as $20. The Better Business Bureau of Mississippi offers tips for consumers to consider when purchasing and using pre-paid bank cards, such as various restrictions and a lack of FDIC insurance and the same protections as credit cards.

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    This document provides information about pre-paid bank cards, also known as stored-value cards. It lists some pros and cons of these cards, such as their flexibility to be used anywhere credit cards are accepted but also fees that can be as high as $20. The Better Business Bureau of Mississippi offers tips for consumers to consider when purchasing and using pre-paid bank cards, such as various restrictions and a lack of FDIC insurance and the same protections as credit cards.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    11 views1 page

    #280 BBB 09-24-09 22

    Uploaded by

    bmoak
    This document provides information about pre-paid bank cards, also known as stored-value cards. It lists some pros and cons of these cards, such as their flexibility to be used anywhere credit cards are accepted but also fees that can be as high as $20. The Better Business Bureau of Mississippi offers tips for consumers to consider when purchasing and using pre-paid bank cards, such as various restrictions and a lack of FDIC insurance and the same protections as credit cards.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
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    of 1

    MAGNOLIA

    CLIPPING SERVICE
    (6011856-0911 I (205)758-8610
    WOODVILLE REPUBLICAN

    WOODVILLE, MS

    Clfcularlon::; 25.50

    WEEKLY

    08/20/2009

    11111/:1111111111111 iIilllllllllllill

    Pros And Cons Of


    Pre-Paid
    ,;: 0 Bank Cards
    Pre~i'd bank cards • Bank cards can have
    have become a popular a1~ multiple fees associated
    ternative to the gift cards with them which can be as
    sold by and for individual high as $20_ Such fees may
    retailers. The major ad­ be for contacting customer
    vantage is that these bank service or for inactivity.
    cards can be used any­ Some cards have a base
    where that credit cards weekly fee Qf $ 1.95 for
    are accepted, thus allow­ each week that the cards
    ing flexibility in where the carry a balance.
    gift money can be spent, • FDIC insurance pro~
    Since there are some vided for bank accounts
    downsides to these prepaid does not apply to these
    bank cards ~ also known prepaid cards.
    as stored-value cards ­ • Major card companies
    the Better IUti!iness Bu­ such as MasterCard and
    reau (BBBUlcrving Mis­ Visa often brand prepaid
    sissippi offers the follow­ bank cards; however, they
    ing tips to consider when generally do not carry the
    purchasing and using such same liability protections
    cards: as traditional credit cards. I
    • There are often some:
    restrictions on the use of
    bank cards for purposes
    such as car rentals, hotel
    reservations and making
    deposits on large purchases.
    The BBB has been serv­
    ing Mississippi since 1964
    by providing consumers
    with business infonnation
    and promoting an ethical
    markctplace for con­
    sumers and businesses,
    The BBB can be reached
    online at www.ms.bbb.org
    or by phone at 800-987­
    8280,

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