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.
- Photo Credit Andrew Bret Wallis/Brand X Pictures/Getty Images
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