Can prepaid gift cards still be tracked? Generally not. Because prepaid gift cards are essentially just purchased and exchanged like cash, there's really little means to track one except perhaps a prepaid debit card which would have a linked bank account. Of course, this is far from ideal as the chances of your account getting overdrawn are high. This is why it's important to choose the best prepaid gift card provider, one that gives you the best protection.
How does a prepaid gift card expire? Most companies that issue them do not allow you to keep a record of how much you spent, but rather how much you've spent, days and dates. The idea is to make sure you always have a record of all purchases so you know how much you need to reload with your real money. This is very different from debit cards where you can keep a running tab on how much you've spent and decide whether to reload or whether to keep going with your debit cards.
Is there any way of knowing how long a prepaid card will last? There are no laws governing the maximum amount of time a prepaid gift card issuer can keep a card active. However, the card issuer is required to provide you with an estimate of their fees every thirty days. These estimates do not take into consideration sales tax or other charges. They are based on what is currently the available balance. So if you have spent several months' worth of balance and are due for a billing date, it's best to check how long you'll be able to keep your card active.
Does the issuer charge a service fee or a merchant service fee? Both prepaid gift card and debit Mastercard companies charge a service fee. You need to check the terms of your service contract to see what services the company requires you to pay for. Some issuers don't charge anything when you are holding an account but may charge a service fee when you are using your card to make purchases. Make sure you read all the details before signing any agreement.
Will there be a membership fee when you join? Some issuers require you to join a service for your prepaid cards. They may also have other fees for membership. Make sure to read all the details to avoid being fooled or paying too much for the membership.
Are there any blackout periods when you can't use your gift card? Most credit and debit cards don't have blackouts because the cards are only active for a specified amount of time. For prepaid cards, the length of the blackout period is usually a month. In some instances, you can be active on prepaid cards for up to three months at a time. So if you want to keep using your prepaid cards, you may want to consider longer periods of time to keep using them.
Will you have access to cash advance fees on prepaid gift cards? You may have access to a cash advance fee when you are active on your account but not if you cancel your account before it expires. You will also have access to a fee when you are using your gift cards for non-cash purchases. If you only use your gift card for gas prices, you won't have to worry about this fee.
Does the total bill you receive include fees for checks, payments, and checks fees? When you add up the total bills after you subtract the fee for checks from the total bill, does the final amount still include fees? Prepaid cards don't have fees included in the total bill. This means you will have to add the check fees into the final total after you deduct the check fee. Then you will know if the prepaid card you are trying to purchase has any available balance.