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Visa gift cards, like any other business, allow you to earn money while providing services. Thus, if someone buys a gift card for a certain amount, and the recipient receives this amount, as the service provider makes his money to be able to pay the cost of making the card (insignificant, yes), process the card in every gift purchase, as well as keep records? Well, there are fees, some hidden, and others not so hidden that they will pay the cost of providing this service.

Monthly fee

Some visa prepaid card plans have a monthly fee, which is usually around $ 10 per month. The monthly plan includes 2 free cash withdrawals from ATMs, a free commission for convenience (if you do not use your PIN code) and no service charge. This type of plan is useful if you plan to use an ATM at least twice a month and want to regularly check your visa gift card balance. In general, if you plan to use your card a lot, if you can, you should get a bank account or a credit card, and you can pay your balance every month, with these options it would be better.

There is also a pay-per-use plan that does not have a monthly fee. The difference in this plan is that you pay every time you check the balance, and every time you want to withdraw money from your account. You will also be charged a service charge if you have not used your card for at least 3 months. This plan is more beneficial if you do not use your card more than once or twice a month.

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Payment agreement

In any case, using a Visa prepaid card or any other type of prepaid card entails some associated costs. These types of cards are not recommended for those who have good credit and who have a bank account with their own ATM service. If you plan to regularly use your prepaid card or receive payment by adding a balance to your prepaid account, you will ultimately pay for access to your own money. If someone offers this payment agreement, it would be much better to follow the PayPal route.

Use your card to pay bills

Other less well-known gift card costs are not just for credit or debit cards. If you use your card to pay bills, a $ 1 bill will be charged. However, even before you are billed, a one-time fee of $ 2 is charged for registering your card to pay bills. If you decide that you want to change your plan from monthly to pay for use or vice versa, you will be charged a “plan change rate” of approximately $ 2. If you want to transfer the balance from your prepaid account to another, you will be charged. A fee of $ 2.95. Last but not least, if you lose your card, you will be charged $ 3.95 for replacing the card.

Most of these fees do not exist with credit cards or bank accounts, so using prepaid visa cards should be used sparingly, and if there is no other option available since you pay for almost any activity I did on your card. Find out everything you can about the difference between credit cards, debit cards, Visa prepaid cards, and gift cards before deciding on the right decision for you.