Prepaid-type Visa cards are surging in popularity in Australia’s retail industry. These cards are growing in popularity because they will give you complete control over your cash, and they’re always handy to have on hand during a money emergency. In addition, they make great gifts for new graduates and perfect solutions for last-minute occasions. Gifting a card like this is not practical and also thoughtful.
A pre-paid visa card is a great gift for anyone on your list. Here are some statistics on gifting a prepaid visa card in australia:
– Over half of Australians say they would prefer to receive a prepaid Visa card as a gift, rather than a traditional gift card (54%).
– The most popular occasion for giving a prepaid visa card in australia is Christmas (63%), followed by birthdays (21%) and other special occasions (16%).
What are Prepaid Visa Cards?
Prepaid-type Visa cards are a type of debit card that can be used to make payments or withdraw cash. They are a popular payment method in Australia and can be essentially used at any merchant that accepts Visa cards.
These cards are issued by banks and financial institutions and can be reloaded with funds as needed.
Most prepaid cards charge fees for transactions and withdrawals, so it is important to compare cards before selecting one. Additionally, some cards may have expiration dates or other restrictions.
The growing trend of gifting a prepaid-method visa card in Australia
There are several ways to get your hands on a prepaid-type Visa card in Australia. You can buy them from most major supermarkets and convenience stores or order them online.
According to a recent report, the number of prepaid-method Visa cards in circulation has grown significantly in recent years, reaching a total value of $2.6 billion as of June 2018. Another research found that the average Australian spends $190 on prepaid-style Visa cards yearly. That’s more than double the global average of $85.
How to buy a prepaid visa card
You’ll need to find a provider that offers them.
You’ll actively need to decide how much money you want to load onto the card.
Once you’ve found a provider and agreed on an amount, you can purchase your card.
You’ll need to provide your personal information and payment details. Once the transaction is complete, you’ll be able to use your card anywhere that accepts Visa payments.
Consideration before buying a prepaid visa card
- The exchange rate. Australia has a higher-than-average exchange rate, so you’ll want to ensure you get the best deal on your prepaid card.
- Check the fees associated with the card. Some cards have high annual fees, while others have lower monthly fees.
- Ensure the card is accepted at all the places you’ll be using it.
Some prepaid cards are only accepted at specific retailers or online merchants. Finally, read the fine print carefully before signing up for a card. This will help you avoid any nasty surprises down the road.
Conclusion
Use your card as you would typically use a regular credit or debit card. Once you have money loaded onto your prepaid-type Visa card, you can use it anywhere that accepts Visa payments. Present your card at the time of purchase and enter your PIN when prompted. Remember that some merchants may put a hold on funds when making large purchases, so be sure to check with your issuer beforehand if this concerns you.
