Debit Cards vs. Prepaid Card

Debit cards and prepaid cards are similar except for one key difference: debit cards are linked to a bank account (typically a checking account), while prepaid cards are not. This difference affects how the card is regulated by the government, what fees are allowed and are not, and how you add money to the card. Types of Cards Prepaid Debit Card Before we get into the differences between them, we should… Read More »

Signature Debit Networks

Debit cards that you can use without a PIN number are called Signature Debit cards because you typically sign your name instead of enter a PIN number. Signature debit cards are processed over the credit card networks, such as Visa, MasterCard and Discover and are processed the same as credit cards. If a merchant accepts credit cards, they almost always accept signature debit cards as well, as long as the… Read More »

Signature Debit vs. PIN Debit

The use of debit cards has grown significantly over the past decade. Consumers may favor debit cards because the money comes directly out of their checking accounts, which can enable better financial management. Many payment processing companies offers both PIN-secured and signature-based debit card processing. PIN-based Debit Cards       PIN-secured debit purchases use a secret personal identification number (PIN) to authorize purchases. The transactions are authorized in real time. The funds in… Read More »