Pre-Paid debit card | Definition

/pree·peid·deh·buht·kaard/

A card issued by a financial institution that is preloaded with funds and is used like a normal credit card. A prepaid credit card | stockbroker | fringe loan | bond | fund | spac | debt | loan | atm | definitions| underbanked | scholarship | beneficiary | mutual fund | chexsystems | stock split | bull market | bear market | trust fund | investment | debit card | withdrawal | work study | tax credit | employment | index fund | reconcile | co-signer | net worth | deferment | liability | redlining | black tax | treasurer | reimburse | ownership | tax forms | monetary | interest | unbanked | currency | altcoins | 529 plan | tax lien | account | expense | economy | pension | bitcoin | 401(k) | lender | wealth | return | grant | asset | check | fafsa | will | wage | fdic | bank | definitionsworks in the opposite way of a normal credit card, because instead of buying something with borrowed funds (through credit), you buy things with funds that have already been paid. This card functions like a gift card.

Next word Uniform Transfer to Minors Act (UTMA) ᐳ

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The CapWay, Inc Debit Visa Card is issued by Metropolitan Commercial Bank (Member FDIC) pursuant to a license from Visa U.S.A. Inc. “Metropolitan Commercial Bank” and “Metropolitan” are registered trademarks of Metropolitan Commercial Bank ©2014.

1. For Money Account holders with a negative balance, the CapWay debit card will go into freeze until funds are deposited to bring account back to current. See terms and conditions

2. Sending or receiving money from other CapWay account holders will be instant. Transfers from other accounts could take up to 48 hours, depending on the financial institution.

3. Early access to funds requires direct deposit. Early payment is not guaranteed and is dependent on the timing of payer's submission of deposits. We generally post such deposits on the day they are received which may be up to 2 days earlier than the payer's scheduled payment date.

4. Money Goals allows account holders to save money towards financial goals created within the CapWay platform. Funds can be transferred from your Money Account or saved through the rounding up of your transactions from purchases.

5. CapWay offers financial content through Learn Money free of charge, but may include advertisements through affiliates. Phunds, CapWay's literacy program and session, is paid content or co-branded content.

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