How is a debit card with a checking account different from this >PASS card?

How is a debit card with a checking account different from this >PASS card?
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1 Answer

Answer :

It’s like a cross between a checking account and a gift card. With a pre-paid card, your parents deposit money onto the card, and can reload more money as you spend it down. In that way it’s similar to a checking account. However, with a checking account you can overdraw you account (spend money you don’t have) and incur hefty overdraft charges ($35 – $50 for each ofterdraft incident, even if you’re $2 overdrawn.) So, like a gift card, you can only spend the money that’s available on the card. If your card has $48 on it, and you want to buy something that costs $50, your card will be declined and you will have to find another way to pay for your purchase.
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Related questions

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My parents think I'm stealing money from their debit card?

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What would be the difference if I pay my Netflix monthly fee with Paypal instead of my Visa debit card directly?

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What investigation takes place when you report fraudulent activity on your debit card?

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Who is responsible for credit card debit when someone dies?

Description : Who is responsible for credit card debit when someone dies?

Last Answer : The estate pays all debts before any inheritance is handed over.

Will the banks start charging us for using a debit card?

Description : Will the banks start charging us for using a debit card?

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Does anyone use the American Express debit card?

Description : Does anyone use the American Express debit card?

Last Answer : answer:

Why was my debit card rejected on the UK Amazon site?

Description : Why was my debit card rejected on the UK Amazon site?

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Does anyone use the Skylight prepaid debit card?

Description : Does anyone use the Skylight prepaid debit card?

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Paypal debit card possible?

Description : Paypal debit card possible?

Last Answer : answer:I don’t see why not. it is, in effect, a checking account. How do you implement it? I don’t see how. They are unlikely to give you a finder’s fee for the idea, which they have probably already thought of.

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Description : In your experience which is the best pre paid debit card around? I need one I can add money to without a high cost for adding the money.

Last Answer : It depends on how you add the money. There is no fee for direct deposit, such as from an employer or Social Security, no fee for a transfer from a bank account not all banks will accept transactions Upside.com provides the Upside card for a monthly fee of $1.99

What's better when traveling, use your credit card to get cash or use your bank debit card?

Description : What's better when traveling, use your credit card to get cash or use your bank debit card?

Last Answer : I would guess that withdrawing cash from an ATM is cheaper using a debit card than a credit card as the credit card company nomally charge you a fee on top of the higher rate of interest.