What is a prepaid card? How they work and who uses them
By SendPay Business · · 2 min read
- 1Your card appears in your app
- 2Tap it to pay in a shop
- 3See every payment as it happens
A prepaid card spends money that's been loaded onto it in advance. It works like a debit card in shops and online, but it isn't linked to a bank account and can't go overdrawn, so you can only spend what's on it.
Prepaid, debit and credit
Tap to explore
Tap each one to see what it means.
Prepaid
spends a balance loaded in advance.
Debit
spends money straight from a bank account.
Credit
borrows money that's paid back later.
Who uses them
People who want a firm limit on spending, parents giving children pocket money, travellers loading currency before a trip, businesses giving staff cards for expenses, and people who can't easily open a bank account.
Try it
Name your platform and watch it come to life
Type a name, tap a colour and pick what it does. The phone changes as you go.
Colour
What it does
Design and preview your whole platform free, then launch when you are ready.
What to check
Look at the fees for buying the card, loading money, spending abroad and taking cash out, and check how the balance is protected. Money on e-money prepaid cards is usually safeguarded rather than covered by deposit protection.
Launching your own
Brands launch prepaid and debit cards through licensed issuing partners and put their own design on them. SendPay Cards platforms, powered by licensed partners, are free to design and preview.
How it works
Your own money app- 1Name it and pick your colours
- 2Choose what it does
- 3Launch when you are ready
Why sign up
Create your free SendPay account
It's all about creating your own financial platform with ease. Start with a free account today.
- 🪪A free business accountOpen it in about a minute with your business name, email, password and mobile. No card and no documents to start.
- 💳Get paid from day oneTake card payments, and share your own payment link and invoices so customers pay in a click.
- 🌐A free business websiteFree to build, free to publish and free to keep, with unlimited visits.
- 🚀Your own financial platformDesign and preview your whole platform free, then launch when you are ready.
SendPay Business is a technology company, not a bank. Accounts, cards and payments are powered by licensed partners.
Questions people ask
What does a prepaid card cost in a year?
Add up its fees with the free calculator.
Prepaid card cost calculator →Read next
Spotted a mistake or something out of date? and we'll fix it. How our guides are made
This guide is general information, not legal or financial advice. SendPay Business is a technology company, not a bank, and does not take deposits; regulated services on the platforms are provided by licensed partners. Other companies named in this guide are reference points only and are not affiliated with SendPay Business.