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Guide to Reloadable Prepaid Cards

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When a prepaid card is reloadable, it generally is meant for longer-term use. Funds initially are deposited on the card and the card can be reloaded with more money at any time. It is the “reload” feature that distinguishes prepaid cards from other cards. Consumers also may choose to have a paycheck deposited directly to a prepaid card. There are advantages and disadvantages to using a reloadable card.

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