Using prepaid cards is a guaranteed way to protect your bank account when you are shopping online. Sure you can have identity protection, fraud protection, over-the-limit protection, or any other combination of “protections”, but the truth is that online predators are good at what they do. They are extremely smart people that have mastered the programs that control the banking industry. Shopping online is very convenient and most times you are safe, but if you are not careful the wrong people can get your personal information. They can literally take all the money you have and remove it from your account in an instant… unless you never give them the opportunity. As an illustration, the following story explains this very real threat:
Susie enjoys easy access to popular trends. She does a lot of shopping online to get great deals and unique items. For her, the days of standing in lines and circling parking lots are long gone. She makes her life a whole lot easier by using the web to make purchases. She enjoys the comfort of placing orders at her convenience and getting great gifts for her loved ones. Susie, feeling confident that that all websites are safe and secure, always uses her bank’s debit card to make her purchases. After years of online shopping with no problems at all, one day things changed.
One of the websites she made a few purchases from had been breached. As a result, all her bank account information was stolen – and she didn’t know it yet. Two days passed before she checked her statement, and when she did, she noticed a zero balance and a bunch of unauthorized purchases so she immediately called the bank. The bank’s representative confirmed what she thought would never happen – she had been the victim of an online predator, and her bank account was depleted. She had protection on her account from the bank, and they agreed to conduct an investigation. Luckily, she would be reimbursed upon the findings of the investigation, but this process could take up to 30 days. In the meantime, she would have no money at all.
There is a way this could have been avoided. If Susie had a prepaid card for her online purchases, she could have conducted all of her online shopping without risking access to her personal account. Her account would have never been compromised and she would not be broke right now. With a prepaid card, she could enjoy the luxury of shopping online like she does with her debit card, but without any of the risk because her personal banking account would never be attached to the transaction! When you shop with a prepaid card, no one can steal the money that is in your checking or savings account.
Make sure you protect your bank account when you are shopping online and use a prepaid card instead. You get all of the benefits with none of the risk.