The Application Of Pre-paid Card for Customers


A prepaid cash card or sometimes we call it as Debit Cards is a new creation after the credit card. It is a plastic card which provides an alternative payment method to cash when making purchases for the users. Unlike credit cards where the credit cards holders will make the transactions first then at the end of the month, the credit card holder will pay all the accumulated bills at one time. As for Debit card, the users have to deposit money into the card in advance before they can use it to perform transactions. Prepaid card nowadays are very popular in the market. Most of the banks in Malaysia have introduced their own debit card and I expect that in the future, there will be more people subscribing debit card to replace credit card since it got quite a lot of benefits owing it.

One of the benefits of having a Debit card is:

1. Convenient
By using the prepaid cash card, users can go out without bringing a lot of cash in hand which is sometimes very dangerous. Users just need to bring along the card and they are ready to go for shopping or vacation. Besides that, the prepaid card can also act as an ATM card for instant withdrawal of cash when we are urgent of wanted to use cash. This will bring us more convenience as we don’t need to bring 2 cards( prepaid card and ATM card) at a time but we only have to bring one card is sufficient. Besides that, we can also use it to pay our monthly electricity and water bills, mortgage through online banking.

2. Global Reach
The prepaid card is easy and fun to be used. It can be used anytime anywhere even in the middle of the night. For example, if a user owns a Visa Prepaid card, he can use the card to perform transactions anytime, anywhere around the world without going through any hassle.

3. Free from any penalty and fine.
A credit card holder usually will have to pay their bills at the end of the month in order to avoid any penalty or fine. However, one of the benefits of using the prepaid card like Debit card is that the user will not face any fine or penalty at the end of the month because the have pay the bills through deduction from the money balance in the card. Thus, once there is no more balance in the car then the card can't be used unless we deposit money into the card again.

4. Does not have worried of entering into debts.
Users who use the prepaid card can fell relief as there will be no risk for the users running into debt as the card does not has any credit or overdraft facility. It also helps to instill financial discipline then credit card. We can only spend on the amount left in the card. In my opinion, this is good for the users who is a big spender as it will help them to budget themselves by not overspending it.



There are a few examples of prepaid card that is used in Malaysia

1. Touch and Go card
This card will help the toll users to pay their toll fees by touching the card on a sensor and they are good to go. The good thing is that they don’t need to wait in long queue to pay for their toll fees during peak hours. Besides that, the card can also be used to purchase fast food like hamburgers, McDonalds and many more.

2. UTAR Debit Card
It is specifically designed for UTAR students to provide them a safe and easy mode of payment. It is convenient as student’s parents can transfer the pocket money and student fees into the card account and they can use it to pay their fees at all campuses.



3. Octopus Card
This is a smart card that used to transfer e-payment online or offline. Since it was established in 1997, it was widely used in Hong Kong. The card can be used in many areas such as payment in the fast food restaurants, public transportation, shopping markets, car parks and many more.














Besides that, to apply a debit card, there are a few procedures that we need to follow.

1. Firstly, the bank will ask us to open a bank account if we don’t have a bank account in that bank. If we have one then there is not necessary to open another bank account.

2. Then, the bank will ask us to fill in some form about our personal profile and financial info.

3. Next, the bank will evaluate it to determine whether we are eligible or not. If the bank approved it, the bank will create a debit card on the spot or they will mail it to us through letter form. (Usually they don’t create it on the spot as they need more time to evaluate our application, it will take about 1 or 2 days to get it done.)

4. Once we have received the debit card we need to activate it at an ATM machine or on the bank’s website. After activating, the card is ready to be used.

As a result, each of every one of us now may have a card in our wallet whether it is a debit card or touch and go or credit card and others. It is easy to apply and it will be useful to us. Therefore, if condition allows, try to go and apply one so that we can use it when we are really out of cash or in an emergency.






1. http://www.octopuscards.com/consumer/products/apply/en/index.jsp

2. http://en.wikipedia.org/wiki/Debit_card

3. http://www.economywatch.com/debit-card/apply.html

4. http://ezinearticles.com/?Benefits-of-Debit-Cards&id=447487

5. http://www.ehow.com/how-does_4587853_apply-debit-card.html

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