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Prepaid cards do not charge interest, but they do charge per operation and for each transaction

Prepaid cards do not charge interest
If you buy your card online or over the phone, the issuer needs to give you this summary in print or electronically.

A prepaid card issuer must show you their fees before you buy the card. A brief summary of the rates and key information about the rates will be visible on the outside or throughout the package. This brief summary will include a number you can call toll-free and a web page where you can see all the fees the card may charge you.

If you purchase your card online or over the phone, the issuer needs to provide you with this statement in print or electronically.

It is important that you register your prepaid card as soon as possible. Your card issuer will not be obligated to protect you from loss, theft or card fraud until you successfully register your card. Registration is done at the card issuing company.

If you buy it online, you will usually have to register it before you receive it. But if you buy it in a store, be sure to register it so you’re fully protected in case it’s lost or stolen.

Fees charged by prepaid cards; per transaction, monthly fee, per purchase, cash withdrawal, out of network, cash top-up, balance inquiry, customer service, inactivity.

In cases of complaints, contact the Consumer Financial Protection Bureau (CFPB).

Today we provide you with the following report so that you can take the best measures and economic decisions.

If you want to schedule an appointment with us to clarify any concerns about this and other financial issues of general interest and guidance, as in this topic, you can do so through the following link, in this way, our specialists in charge of Jessica Aliga Froelke will be contacting you.

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