How to Protect a Prepaid Card
by. Konrad Christensen
Prepaid debit cards are accepted wherever debit cards are; they protect a customer’s privacy; they are a great tool to help with budgeting. However, all that privacy and ease of use can come with heightened risks of which consumer protection groups are urging prepaid cardholders to be made aware.
Do your customers know what to do if they lose their prepaid card? Are they aware of the differences in protections under the law for a prepaid card versus a credit card?
The best way to help your customers protect their prepaid card is to recommend they take the following steps to defend their dollars:
- Pick a PIN for the card and keep it secure.
- Keep track of the balance.
- Read the card’s fine print to best understand its fees and usage options.
- Know the rules and options for replacing a card.
- Write down the card number, security code and customer service number to quickly and easily report a lost, stolen or compromised card.
- Don’t load the card with more money than they are comfortable losing. The TMG ATIRAreload card has significant security and offers the option to set up text