Frequently asked questions

You’ll find the answers to your questions about Visa prepaid cards on this page.

Answers for you

• What are Visa prepaid cards?
• How do Visa prepaid cards work?
• Who can use my card?
• How do I keep a track of my balance?
• Can I use my Visa prepaid card at an ATM?
• Why is it safer than carrying cash?

Answers for parents

• How do parents and teens find out the card balance?
• How does automatic loading make budgeting easier for parents?
• Can parents set spending limits?
• Why are Visa prepaid cards a great way for family and friends to give gifts?
• How do parents add money to the card?
• How can parents and teens ensure that their account information is secure?
• Will the card impact the teen’s credit rating, if misused?
• Can a Visa prepaid card be added to a Visa account that’s already open?

What are Visa prepaid cards?

They’re just like any other Visa payment card, but the money is loaded to the card before you spend it. This site tells you specifically about Visa prepaid cards designed especially for teenagers and young people.

Visa prepaid cards make it easy for you to create a budget, manage money and shop sensibly and best of all the card can be used everywhere that accepts Visa cards—that’s millions of locations worldwide.

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How do Visa prepaid cards work?

Your card can be loaded with money by you and your parents and often banks allow somebody else your parents agree to, such as grandparents to load money onto the card too.

When you make a purchase with your Visa prepaid card, the amount you spend is deducted from the card balance. When the card balance is low, your parents can add money to the card usually from their credit card, debit card or bank account. Or better still they can set it up so your allowance is loaded automatically on a regular basis.

Spending limits are set by you and your parents together. For example, you might choose to have a weekly, daily or monthly limit to help to make your money last. As you get older, you might choose to change these limits or even drop them altogether.

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Who can use my card?

Only you can use your card. Simple, eh?

When using your card to pay for something, you will be asked for your PIN or signature – either way, only you can use your card. And if you are given a PIN, remember to keep it safe.

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How do I keep track of my balance?

We recommend that you check your balance on the internet or by phone and try to keep a record of what’s spent and added. To help with this your bank will also usually send you regular statements. This makes it easy to keep track of your current balance and is great practice for having a bank account later in life.

By regularly tracking your spending, you will always know how much you’re spending, where you’ve spent it and how much is on the card.

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Can I use my Visa prepaid card at an ATM?

If your bank offers the service, and you’re offered a PIN, you can use your Visa prepaid card to withdraw cash from Visa ATMs worldwide.

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Why is the Visa prepaid card safer than carrying cash?

When cash is lost, it’s gone forever. But if a Visa prepaid card or card number is ever lost or stolen, if you report it straight away, your bank can block the account so nobody can use it. As long as you haven’t been careless with your card or shared your PIN, then it can usually be replaced and the balance transferred.

There might be a small admin fee for this. Banks that offer Visa prepaid cards all have their own guidelines on how they handle lost and stolen cards. Be sure to check terms and conditions when you apply.

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How does automatic loading make budgeting easier for parents?

Automatic loading is a convenient way to set up allowances or budget how much money is given to your children. Every week, once a month, or whenever you choose, a pre-selected amount can be transferred from your credit card, debit card or current account to your child’s Visa prepaid card.

Please note that when loading from your current account, the transfer may take a few days or less to arrive. Contact your bank to set this up. Make sure you confirm completion of transfer before your child tries to use the funds.

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Can parents set spending limits?

Yes, parents choose how much money gets loaded on the card. You also have the option to log on to the bank’s Visa prepaid card website to review your child’s spending and suspend the account at any time, for any reason.

To help your children budget – especially in the early years – many banks offer the ability for you to set daily, weekly or monthly spending limits.

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Why is a Visa prepaid card a great way for family and friends to give gifts?

Many banks will allow you to authorise family members or friends to put gift money on the Visa prepaid card. It’s faster and safer than posting a cheque or giving cash. Check with your bank to see how it works.

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How do parents add money to the card?

Adding money to a Visa prepaid card is the quick and easy way to make sure your son or daughter has money for everyday use, travel and emergencies.

All banks have their own methods for loading funds, but most will accept standing orders, transfers via online banking or debit or credit card payments. Just visit your bank’s Visa prepaid card website or call the number on the back of the card at any time to find out more. And remember to verify transfer of funds before your child uses the card.

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Why is it so important to always know the balance on the card?

Retailers cannot tell how much money is on your child’s card until he or she tries to make a purchase. Any attempt to make a purchase that is for an amount greater than the cardholder’s available balance will be declined. While this does not happen very often, it is important for the cardholder to keep track of their available balance to help avoid this situation.

To make a purchase greater than the balance on the card, your child can use cash in combination with the card provided they can tell the person at the till how much they want debited from the card. It’s okay for the card to fully deplete funds. If this happens, simply top up the card.

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How do parents and their children find out the card balance?

You and your child can check the card balance by logging onto the bank’s Visa prepaid card website or by calling the number on the back of the card.

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How can parents and teens ensure that their account information is secure?

All information given to your Visa prepaid card issuer is secure and strictly confidential. To access the cardholder’s account via the web, the cardholder’s username and password are required. Once the user is logged in, extra security measures make private information unreadable as it passes over the Internet.

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Can a Visa prepaid card be added to a Visa account that’s already open?

No, it cannot be added to an existing Visa account. In fact, parents don’t even need to be a Visa cardholder in order to get a Visa prepaid card. And you don’t have to qualify for a credit card to get your child a Visa prepaid card.

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