Do you have idea about prepaid master card?
A prepaid Mastercard is a type of payment card that requires you to load funds onto it before making purchases. It functions similarly to a debit card but is not linked to a bank account. Here are some key features:
- **Usage**: You can use it for transactions up to the amount loaded on the card, helping with budgeting and avoiding debt[1][2].
- **Topping Up**: Funds can be added via online transfers, bank transfers, or cash deposits[1][7].
- **Fees**: Be aware of potential fees such as foreign transaction fees and ATM withdrawal charges[2][6].
- **Benefits**: Offers security over cash and can be used globally where Mastercard is accepted[8].
Prepaid cards like the Brink's Money Prepaid Mastercard also offer additional features such as direct deposit, mobile alerts, and rewards programs[5].
Citations:
[1] What is a prepaid card? - MoneySupermarket https://www.moneysupermarket.com/prepaid-cards/what-is-a-prepaid-card/
[2] What is a prepaid card and how does it work? - Wise https://wise.com/us/blog/what-is-prepaid-card
[3] What is a Prepaid Card? - Discover https://www.discover.com/credit-cards/card-smarts/what-is-a-prepaid-card/
[4] What is Prepaid Card: Meaning, Types & Benefits - Bank of Baroda https://www.bankofbaroda.in/banking-mantra/digital/articles/what-is-prepaid-card
[5] Prepaid Card Features | Brink's Money Prepaid Mastercard https://www.brinksprepaidmastercard.com/features.shtml
[6] Prepaid Debit Card Definition, Features & Uses - Study.com https://study.com/academy/lesson/prepaid-debit-cards-uses-drawbacks.html
[7] How Do Prepaid Debit Cards Work? - Investopedia https://www.investopedia.com/ask/answers/042315/how-do-prepaid-debit-cards-work.asp
[8] Prepaid Travel Card by Mastercard https://www.mastercard.us/en-us/personal/find-a-card/prepaid-travel-mastercard.html
is that a account? or is there any chance transferring the monies into that master card? and what's the credit limits?
A prepaid Mastercard is not a traditional bank account but rather a card onto which you can load funds for spending. Here are some key points:
- **Account Type**: It's not an account in the traditional sense; it's more like a stored-value card.
- **Transferring Money**: Yes, you can transfer money onto the card, typically through online transfers or cash deposits.
- **Credit Limits**: There are no credit limits since you can only spend what you've loaded onto the card. However, there may be maximum load limits set by the issuer.
Prepaid cards offer flexibility and control over spending but do not provide credit facilities like credit cards.
Citations:
[1] 11 Card/Account Type Definitions - Digital Payments Group https://digitalpayments.group/card-api-documentation/11-card-account-type-definitions/
[2] How Many Types of Prepaid Cards Are There? - Softjourn https://softjourn.com/insights/how-many-types-of-prepaid-cards-are-there
[3] EBL Mastercard Aqua Prepaid Card - Eastern Bank PLC. https://www.ebl.com.bd/retail/eblcard/EBL-Mastercard-Aqua-Prepaid-Card
[4] [PDF] Classification of liability for a prepaid card in the issuer's financial ... https://www.ifrs.org/content/dam/ifrs/supporting-implementation/agenda-decisions/2016/ias-32-classification-of-liability-for-a-prepaid-card-in-the-issuers-financial-statements-march-2016.pdf
[5] IAS 32 — Classification of liability for prepaid cards in the issuer's ... https://www.iasplus.com/en/meeting-notes/ifrs-ic/2016/march/ias-32-classification-of-liability-for-prepaid-cards-in-the-issuer2019s-financial-statements
[6] Mastercard Prepaid | Just Load and Pay | Safer than Cash https://www.mastercard.co.in/en-in/personal/find-a-card/standard-prepaid-card.html
[7] Prepaid Debit Cards | Credit Cards - Mastercard https://mea.mastercard.com/en-region-mea/personal/find-a-card/prepaid-cards.html
[8] Find a Type of Card that is Right for You | Get a Mastercard
mastercard.us
If some one else is transferring big amounts and then what would be credit limitations?
When someone transfers large amounts onto a prepaid Mastercard, the credit limitations are not applicable in the traditional sense since prepaid cards do not offer credit. Instead, there are load limits:
- **Daily Load Limits**: Typically range from $10,000 (e.g., ATB Load & Go Prepaid Mastercard) to Php 100,000 (e.g., BPI Prepaid Cards)[1][2].
- **Maximum Balance**: Some cards have no maximum balance limit (e.g., ATB Load & Go), while others cap it at $10,000 (e.g., BMO Prepaid Mastercard)[2][4].
- **Annual Limits**: Certain countries impose annual limits on total loads; for example, Bangladesh has a guideline of $12,000 per annum[6].
These limits help prevent misuse and ensure compliance with financial regulations.
Citations:
[1] Prepaid card limits - BPI https://www.bpi.com.ph/personal/cards/prepaid-cards/limits
[2] ATB Load & Go Prepaid Mastercard https://www.atb.com/personal/everyday-banking/credit-cards/atb-load-go-mastercard/
[3] [PDF] Prepaid Mastercard® Currency Card https://cashpassport.mastercard.com/media/228152/622050_zw_generic_mcp_aol_cl_ugtc_r1_300721_cp11287_va.pdf
[4] [PDF] BMO® Prepaid Mastercard®* https://www.bmo.com/pdf/prepaid_Benefits_Guide_EN.pdf
[5] [PDF] EBL Cards Transaction limit 2024 https://www.ebl.com.bd/assets/home/downloads/EBL_Cards_Transaction_Limits-2023.pdf
[6] Prepaid Card - United Commercial Bank (UCB) https://www.ucb.com.bd/banking/retail-banking/prepaid-card/
[7] Mastercard Prepaid | Just Load and Pay | Safer than Cash https://www.mastercard.us/en-us/personal/find-a-card/prepaid-mastercard.html
if that amounts millions and billions dollar or BDT?
If someone is transferring large amounts, such as millions or billions of dollars or BDT, onto a prepaid Mastercard, they would likely encounter significant limitations:
- **Daily and Monthly Limits**: Most prepaid cards have daily and monthly load limits. For example, BPI Prepaid Cards in the Philippines have a daily limit of Php 100,000 and a monthly limit of Php 500,000[1]. Similarly, many cards in Bangladesh are capped at around BDT 100,000 per transaction[5].
- **Annual Limits**: Some countries impose annual limits; for instance, Bangladesh has an annual guideline of $12,000 for prepaid card loads[6].
Transferring millions or billions would far exceed these limits. Such transactions typically require specialized financial instruments beyond standard prepaid cards.
Citations:
[1] Prepaid card limits - BPI https://www.bpi.com.ph/personal/cards/prepaid-cards/limits
[2] ATB Load & Go Prepaid Mastercard https://www.atb.com/personal/everyday-banking/credit-cards/atb-load-go-mastercard/
[3] [PDF] Prepaid Mastercard® Currency Card https://cashpassport.mastercard.com/media/228152/622050_zw_generic_mcp_aol_cl_ugtc_r1_300721_cp11287_va.pdf
[4] [PDF] BMO® Prepaid Mastercard®* https://www.bmo.com/pdf/prepaid_Benefits_Guide_EN.pdf
[5] [PDF] EBL Cards Transaction limit 2024 https://www.ebl.com.bd/assets/home/downloads/EBL_Cards_Transaction_Limits-2023.pdf
[6] Prepaid Card - United Commercial Bank (UCB) https://www.ucb.com.bd/banking/retail-banking/prepaid-card/
[7] Mastercard Prepaid | Just Load and Pay | Safer than Cash https://www.mastercard.us/en-us/personal/find-a-card/prepaid-mastercard.html
[8] The City Bank American Express ® Prepaid Card https://www.citybankplc.com/card/the-city-bank-american-express-prepaid-card
