Debit card, not prepaid


#21

Maybe some additional infos:
Prepaid and Debit are linked to the account as @Recchan described, while a Creditcard is a given Credit; each month you can use money up to the given Limit. After the monthly period, the Issuer will collect the used dept from your accounts or send you an invoice…


#22

Not always true (about creditcards). Policy differs from bank to bank and country to country. In Latvia for example banks allow you to store your own money in credit cards account so you dont pay any interest at all. So border between debit/credit is really vague. There is also at least 1 local bank who in some cases issues credit cards without any credit limit :grinning:


#23

right. Forgot about that. Some German banks do the same. Which corrupts the “credit”-idea IMHO, but well…

So another “plus” for the Debit: less confusion :wink:


#24

But debit also can be with “overdraft” function :grinning:


#25

Overdraft is a form of credit! But the debit card still draws from your available balance (which includes credit)

UK bank Tandem is planning to launch a guaranteed credit card too. Linked to a savings account.

It’s mainly for credit building, as it shows you’re making enough money to pay off your credit card bill!


#26

To completely mess up things I just saw recently in some finnish bank website (cant remember where exactly) that they advertise credit/debit card 2in1. There was actual Mastercard (or visa, can’t remember) in their site with credit/debit written on it. Crazy world. :rofl:


#27

Yup Fidor has the same it’s also written credit / debit on it. And If you want to pay with it the terminal asks you either which you wanna use :smiley:
(It’s a Mastercard & Maestro Card together)

It’s a neat system since it reduces one card :smiley:


#28

This does need to be a true debit card for me to use this as my main account.


#29

Isn’t Revolut actually a Debit Card, even though it says Prepaid on the card? A stand alone prepaid card would not be linked to an account. If you lose the card your money is gone. That is obviously not the case here. If you lose your Revolut card your money is not lost. That is the big difference between a debit and a prepaid card. Or am I missing something?


#30

You could already order a Maestro card, which is debit as well, but only usable in Europe, mostly, and not comparable to a M/V debit.


#31

Yup it’s a debit prepaid card :smile:


#32

I don’t understand why you prefer prepaid over a bank account (without overdraft). They are virtually the same thing for your use case. In fact you can do more with a bank account than prepaid! Like faster bank transfers!

You can put in a small balance to the new Revolut bank account and won’t get charged or anything like that.

As I said, as long as you don’t apply for an overdraft, there’s virtually no difference.


#33

Same point of view!

Revolut can leave the choice


#34

you replied to the wrong guy… :wink:
(I didn’t ask for Maestro)

But If you recommend Maestro “due to debit” - just compare the Mastercard/Visa Debit-cards with maestro (or v-pay) and see my point :wink:


#35

This makes no difference :wink: the underlying banking framework and the agreements in place would decide what Revolut accounts can do.