How to Transfer One Prepaid Card Balance to Another

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Prepaid cards are debit cards with little to no credit benefits. These cards have logos of well-known credit card companies like Master Card and Visa, which means that you can use them to make purchases at online stores or brick-and-mortar stores. However, they do attract individuals who have little or no access to a bank. Since the monthly fees, transaction fees and miscellaneous fees can be expensive, you may want to transfer your balance to a less-expensive prepaid card. It is as easy as going to your nearest ATM.

Things You'll Need

  • Old prepaid card
  • New prepaid card
  • PIN number (for each card)
  • Visit an ATM that supports your old prepaid card. Enter your PIN number and select "Withdraw." Withdraw the amount of money you want to transfer to your other prepaid card.

  • Apply for a prepaid card if you have not already. Wait for your new prepaid card to arrive in the mail. Follow the instructions for activating your card and setting up a PIN number.

  • Visit an ATM machine. Place your money in a deposit envelope. Write the amount of money and your prepaid account information.

  • Insert your new prepaid card into the ATM machine. Enter your PIN number and select "Deposit." Deposit the amount of cash you want to put on your card.

Tips & Warnings

  • Keep your cash in a safe place whenever you withdraw it.
  • Keep track of your prepaid card balance online or at your ATM.
  • Be aware of the fees associated with prepaid cards. Consult your agreement for more information.
  • Your prepaid card may only allow you to withdraw a set amount of money per day. If you need to withdraw more money, withdraw half one day and half the next.

References

  • Photo Credit Andrew Bret Wallis/Brand X Pictures/Getty Images
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