It's hard to get by on cash alone. When you don't have access to a safe bank account or credit card, prepaid cards are a way to store cash and make purchases where cards are required. Learn more about prepaid cards to see if they might be a helpful financial tool for you.
About prepaid cards
Prepaid cards allow you to store and spend money without a bank account. You can load money directly onto the card and spend up to that total amount.
To learn more about prepaid cards, we recommend viewing iQ Credit Union’s Financial Foundations course Prepaid Cards. Topics in their course include:
- What are prepaid cards and how are they used?
- What are the different kinds of prepaid cards?
- How are prepaid cards different from credit and budget cards?
- What are the advantages and disadvantages of using a prepaid card?
- What sort of protection do I have with a prepaid card?
Choosing a prepaid card
If you’re still trying to determine if a prepaid card would be the best option for you, you can read more about survivor-specific benefits and risks in our module “How can I save money discreetly ?”
To learn more about prepaid card options, you can go to websites like NerdWallet, which contain information about prepaid cards such as features and fees. There are also articles (like this one), which provide a detailed comparison of several different products.
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