In America today there are millions of people who don’t regularly use banks. Maybe they can’t open a bank account because banks feel they’re a poor risk. But maybe they simply refuse to open a bank account because they can’t bring themselves to actually trust a bank. And considering what’s happened in the recent past in the banking world, who could blame them.
These people are known as the “underbanked.” But they still need to cash checks. And they still want to buy things online. But how do they do that without a checking account or a savings account?
Well, one answer is the prepaid debit card. A prepaid card is sort of like a little plastic bank account in your pocket. And you don’t need a bank account or even any credit to get one. With it you can cash your paycheck (via Direct Deposit), buy things online (it works just like a credit card), and even use ATMs. It’s just the thing for someone with credit or banking problems.
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