Differences Between A Prepaid Card, Debit Card & Gift Card-Which One To Choose

Since we have the limitless comfort of modern times, our daily routines are converted into something more functional and less time-consuming. Ok! Maybe we do not have a flying car above us yet. But none of us can deny the point arrived at modern payment systems. No matter from which perspective you look, whether an individual or a business owner, you will see spectacular developments incessantly.

These new payment systems linked with banks and digital wallets broaden what we can reach. For instance, through your Jeton Card, you can shop at your local grocery on the corner of your street, while you may use the same card to purchase that blue ming vase from a Chinese online shopping site. The limits of your payment methods mean the limits of your world these days.  

It is possible to mention three main options in our purchases: prepaid card, debit card, and gift card. Let’s take a closer look at these three to decide which one is the most convenient than the others.

What Is A Debit Card?

A debit card (aka bank card, plastic card or check card) is a payment medium that deducts the amount directly from the buyers’ savings accounts. In other words, unlike credit cards, a debit card comes with a limit. However, credit cards carry out a credit limit which may make you feel that you really have the money in your account. 

No need to say this is a perplexing illusion because the money you spend will be taken back sooner or later. Directly linked to saving bank accounts, debit cards come with financial services such as Visa, Mastercard, and Maestro. Another essential specification of these cards is being easily loadable by other methods at any time. 

To learn more about debit cards, you can check our article here .

What Is A Prepaid Card?

A prepaid card is a “pay-as-you-go” plastic card or virtual card with an amount you deposited in. These cards come with all the advantages of debit cards and have no link with a credit union or bank issuer. Since they carry Visa or Mastercard, you can shop in physical stores as well as you can utilise them in any online shopping. 

In contrast with debit cards, prepaid cards have no additional expenditures or monthly and annual fees. You just redeem and dispose of them. Considering the time we can lose in a bank waiting, prepaid cards are also saviours. Moreover, most prepaid cards are served in various fiat currencies, which will also benefit from pricey exchange rates.

We have penned a descriptive article referring to the pros and cons of prepaid cards in our blog; you can reach it through here .

What Is A Gift Card?

We can simply define a gift card as a kind of prepaid card. However, the main difference between a gift card and a prepaid card is that gift cards can generally only be used until the amount on them, while you can load money on your prepaid card as much as you desire. There are multiple different types of gift cards available for fluxional needs.

  • Single Store Gift Cards: They are for any store within a specific brand. ( Zara gift cards. Amazon gift cards, Ikea gift cards) 
  • Family of Stores Gift Cards: You can use them at any store within a family of stores. For instance, if you have a Gap Options gift card, you can shop in Gap, Old Navy, babyGap, GapKids, GapMaternity, and Athleta.
  • Any Store” Visa and Mastercard Gift Cards: These flexible cards are provided by Visa and Mastercard. You can use them at any airline, gas station, restaurant, or store at checkout.

We have created a seamless digital wallet, Jeton Wallet, for the merchants and consumers looking for security besides functionality to shop online, transfer money internationally, and take full control of your cash flow. Furthermore, we serve a state-of-art prepaid card, JetonCash, available in 50 fiat currencies worldwide.  

To meet the comprehensive services of Jeton Wallet, visit our website at www.jeton.com. We can move your online finances further beyond your dreams.

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