How To Transfer Money From Credit Card To Prepaid Card Online

Transferring money from a credit card to prepaid card is a simple but slightly tricky process since you have to make use of some third party services
Ketcha Brandon
Transfer Money From Credit Card To Prepaid Card Online

The convenience when using a prepaid card for online shopping is one of the numerous advantages that comes with transferring money from a credit card to prepaid card. In simple terms, a credit card is a payment tool that lets you borrow money from your issuer.

Credit cards are offered by banks and credit unions. Even though they are tools mainly for borrowing funds, you can still add funds to them.

Credit card are similar to debit and prepaid card in the aspect that they also have card numbers, expiration dates and the CVV which are vital items when you want to make payments online.

A prepaid card is also another payment method type that allows you to add funds to it and be able to make use of it for your purchases of goods and services. In order to make online payments easy, this tool has card number, expiration date and security code (CVV). As soon as the funds run out, you must recharge to continue using it.

It is necessary you have in mind that prepaid cards do not always come already linked to a bank account but when the need arises, you can link the card to your bank account or credit union.

Linking a prepaid card to your bank account or credit union will let you make use of your bank account or credit union to fund your transactions.

Since prepaid card offer its users with convenience, it is necessary for you to know how to transfer money from credit card to prepaid card online.

So want to transfer money from Credit card to Prepaid card Online? then here is the right guide for you as I will show you how to do so in a few steps.

Table of Contents

What is a Prepaid Card?

In a technical sense, prepaid cards are a kind of debit card. They are issued by a financial institution or credit card provider, such as Visa, MasterCard, or Discover, and are "loaded" or deposited with a particular sum of money. They can then be used to make purchases or pay bills offline or online. They can also be used to withdraw money from ATMs.

Prepaid credit cards function normally in the same locations as regular credit cards and have the same number and expiration date printed on the front or back. The credit limit of the card—the maximum amount that may be charged—is determined by the amount of money that has been "loaded" or deposited onto it.

Unless new money is loaded onto the card after the amount has been used up, it is worthless. In actuality, as long as the cardholder maintains loading money into the card, a prepaid debit card can be used repeatedly. But there can be a monthly charge.

Although the terms are often used interchangeably, these prepaid cards are not the same as prepaid credit cards.

How to Get a Prepaid Card?

As long as you are 18 years and above of age having the right paper works, you can get a prepaid card.

These documentation features a form of identification and your social Security number. You also need an Email address with a US phone number.

As soon as you have gotten the required materials, you can then browse several prepaid card website to discover which ones they offer.

There are so many platforms that provide prepaid cards and all have different terms and conditions. Looking through the terms below is necessary when you want to open an account.

  • Monthly fees
  • Annual Fees
  • Minimum Balance requirements
  • Overdraft fees
  • Withdrawal fees

Once you have found the one that suits you best according to your pockets and terms and conditions too.

Most of the prepaid card providers allow you to open an account online and then have the prepaid card send to your home.

One of the best prepaid card that you can open online is Netspend or you can still decide to apply for some like Walmart Moneycard in store or online.

After you have chosen your prepaid card, you will have to activate and recharge the card when you get hold of it.

What is a Credit Card?

According to Forbes Advisor, a credit card is an electronic card provided by financial institutions that allows members to loan cash to pay for products and services to merchants that accept credit cards. With a credit card, users often have to repay the money that they have borrowed plus any related interest as well as agreed upon charges, as a whole or over time by the payment due.

How Does a Credit Card Work?

With a credit card, you can borrow money from the company that issued it in order to make purchases of products and services.

You then return the borrowed funds in full or in equal monthly payments. You will also be charged interest if you don't make a full repayment.

You can use the credit card for purchases up to a specific limit. Your credit limit is set at this amount. Your credit card company will give you a statement each month that details all of your purchases.

You have the choice of making a minimum payment, a complete payback, or, if necessary, a fixed payment.

How Do You Get a Credit Card?

A bank or credit union  can provide one for you and there 2 types, ones that are secured and the others that are unsecured.

The secured ones are easy to obtain due to the fact that all that is required is a little amount of cash to serve as security.

If you have never borrowed money before or you are facing credit issues and wish to repair your standing with your lenders, then this card is suitable for you.

In order to qualify for unsecured credit card, you need to have a history of borrowing. You can have credit cards with a poor, fair, good or excellent score.

As you scores increase, your interest rate will be cheaper and your credit limit will be larger as yours cores increase.

You might get the card at physical branches right away after applying or several days later, depending on the issuer.

The security deposit must be paid before obtaining the ones that are secured. Your card account can be funded with cash or bank account transfers.

What Are the things to Look for While Sending Money from Credit Card to Prepaid Card?

Below are some key points that you should take into consideration before sending money from Credit card to prepaid card.

In case you are making use of a website or application, then you must enter your card details. Verify the platform security and the encryption of the data.

To avoid unexpected costs, prepare yourself with the transfer fee needed. Due to their low minimum price, prepaid cards are the best. It is necessary you contact your service provider to know whether there are any additional costs.

Make enquiries as much as you can about the regulations of the particular card and company.

Check the balance in your card before making any transfer so as to know is you can reach the minimum transfer amount.

Please examine your credit card provider's functional criteria as well to see how they accommodate each service they offer.

You can transfer funds from a credit card to a prepaid card at a variety of financial institutions, but it's crucial to think about which one best suits your demands and has first-rate amenities.

How to Transfer Money from Credit Card to Prepaid Card Online

Transferring money from a credit card to prepaid card is a simple but slightly tricky process since you have to make use of some third party services that will play the role of mediators for the transaction.

So below are the best financial institution that allows you to transfer money from credit card to prepaid card online.

1. Use Zelle

Zelle is actually one of the best platforms for money transfer services.

It services are compatible with banks all around the United States and it includes a smartphone app.

Your information is kept secured and only the 2 relevant authorities can see the data you provide.

You can split the cost of bills with friends and family by using Zelle and the Chase Mobile app.

The transfer is quick in comparison to many other platforms, and the money is immediately available in the accounts of your beneficiaries.

Please make sure your credit card is connected to your bank account if you wish to transfer money to your prepaid card.

2. Make Use of PayPal

When looking forward to transferring money from Credit Card to prepaid card, then PayPal is one of the best financial services to use.

PayPal is one of the most popular payment platform that lets you send money anywhere in the world as it is available in numerous countries.

With respect to your funding source, the fees for transferring money with PayPal varies, like for example, using a debit or credit card cost 2.9% of the total amount, whereas using a linked bank account or available PayPal balance cost $0.

You can move money from a credit card to a prepaid card by giving the required information, such as your name, contact information, PIN, and prepaid card account number.

A confirmation code will then be issued to you, which you must input to finish the transaction.

At least one to three business days pass before the PayPal transfer is made available in the beneficiaries' accounts.

3. Use Azimo

You may send money to more than 80 different countries using Azimo.

It has no extra costs and offers the greatest conversion rate. It helps you preserve 75% of your money, unlike banks, and provides practical budgeting services.

To send with them, you must create an account, organize a transfer, and make a secure payment via the Azimo platform.

Due to the security and encryption of the information involved in transfers done through Azimo, you don't need to be concerned about any fraudulent activity.

You must spend a certain sum for the first two transfers, so make sure you have the recipient's prepaid card information.

4. Use WorldRemit

WorldRemit is also a well known online money transfer platform that which allows quick and easy money transfers from a credit card to a prepaid card.

As compared to many other conventional banks, it is quick, safe and provides higher exchange rates.

Bank transfers, cash pickups, money transfers to mobile money accounts, and airtime top-up are a few of the additional services it provides to customers.

You must link your card for the transfer and enter your name, contact information, bank information, SWIFT code, and IBAN in order to finish the process.

5. Use Payoneer

Payoneer is also a good options when it comes to transferring money from Credit card to prepaid card online. Since there are no hidden fees with Payoneer, this makes you save up to 70% of the cost at any transaction.

You can send money abroad and make a variety of payments using your Payoneer balance.

To proceed, you must provide your credit card number, card security PIN, and desired transfer amount.

A transfer fee of roughly 1% of the total transfer amount is additionally demanded by Payoneer.

Payoneer can be used by a wide range of people, including freelancers, service providers, digital marketing merchants on online marketplaces, and many more.

6. Use Venmo

Venmo is also one of the financial institutions that allows users to send and receive money online. You are able to use it to send money to anyone and then receive a 3% cashback in addition.

You can make use of Venmo to pay bills online or make your purchases and in order to make your transactions easier inside the country, you are provided with a Venmo debit card.

To transfer money from your credit card to a prepaid card using Venmo, you'll need the prepaid card's number, the amount you want to send, and the card's PIN.

When making a transfer, you will be issued a confirmation code, which you must input to finish the transaction.

The transfer cap for any transaction on Venmo is $299.

Final Thoughts on Transferring Money from Credit Card to Prepaid Card Online

The convenience when using a prepaid card for online shopping is one of the numerous advantages that comes with transferring money from a credit card to prepaid card. In simple terms, a credit card is a payment tool that lets you borrow money from your issuer.

Using online options is currently the most efficient approach to manage your financial needs.

Any of the aforementioned platforms allow you to transfer money in a variety of methods, some locally and some internationally, and they all perform this function to the best of their abilities.

Simply provide your credit card's account number to complete the seamless transfer.

Frequently Asked Questions on Transferring Money from Credit Card to Prepaid Card

Can I get money from credit card without a PIN?

Money transfers typically require you to enter a PIN or password before they can proceed. This will help the bank verify that it is actually you and authorize the transaction.

Can I send money from my credit card to a prepaid card?

Yes, it is possible to transfer money from a credit card to a prepaid card, but a middleman will be required. For instance, it's simple to send money from a credit card to PayPal, Venmo, or Zelle and then transfer it to a prepaid card account.

Can you obtain cash from credit card?

Certain credit cards do allow you to make ATM withdrawals much like that with a debit card. You will have to provide the PIN and then enter the amount you want to withdraw..

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