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Monday, 15 February 2021

Prepaid cards and mobile wallets will cut down on your work / extra costs, find out how

  Prepaid cards and mobile wallets will cut down on your work / extra costs, find out how

You can set a limit if you use a prepaid card or wallet. You can put money in it according to the monthly expenses. Which can cut down on your wasteful spending.

    Prepaid cards will reduce the financial burden

    Additional costs can be cut

    Prepaid cards can be obtained at a cost of Rs 50 to Rs 100

Most credit card use in online payments

Online transactions have been growing rapidly since the Corona crisis. However, the financial burden on people has also increased since then, as most credit cards have been used in online payments. Finance experts say that if you want to cut your spending, start using prepaid cards and mobile wallets instead of credit cards.

Prepaid cards protect against cyber fraud

Using a prepaid card or wallet not only saves you extra costs but also protects you from cyber fraud. Chances of fraud with a prepaid card are small, while fraud with a credit card or bank account is huge. Cybercrime cases have risen sharply since the Corona epidemic.

Prepaid cards can also be obtained from another bank

If you want to get a prepaid card, you can apply online to the bank account you have. You can also get a prepaid card from another bank. However for that you have to complete the KYC process. The bank usually charges Rs 50 to Rs 100 for a prepaid card. Then you can put money in it as needed. However prepaid cards are for a fixed period of time. Before which the money in it has to be paid.

Mobile wallet most useful

The most useful mobile wallet in online transactions these days. In which up to 10 thousand rupees can be kept in the wallet without KYC. When you complete KYC, you get the facility to keep up to one lakh rupees.

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Advantages of prepaid cards

- There is no borrowed money that you are using your money when using a prepaid card.

- No history of transactions is known when making a purchase with a prepaid card.

- It is very easy to spend money and save money in prepaid cards.

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