This payment instrument is very versatile and has attractive advantages that you should know about:

  • Prepaid cards are very easy to request since, by not incurring debt risk for the bank, many times all you need is to request it from your customer portal.
  • They are easy to use and you can access virtual or physical formats.
  • They are very safe since they can only use the positive balance they have, and if they are virtual you can change the security code once your purchase is finished so that the previous one disappears.
  • You do not go into debt with them so you can better control what you buy.
  • You can use them to give gifts to family and friends or provide money to someone who does not have a bank account. For example:
    • It is very useful to teach children to manage their allowance in a responsible way.
    • Provide it to an older relative who does not have a card.
    • For use by someone who is on Dicom and cannot access a credit card to make virtual purchases.
  • They are associated with brands such as Visa and MasterCard so they have worldwide acceptance.  
  • If you will only make purchases online, virtual cards are the best option, but if you also want to use them in shops or give them to someone, you also have a physical one.
  • There are both bank and non-bank prepaid cards, so if you don’t have an account at the banks that offer them, you can ask for one from merchants authorized by the CMF.
  • Most have no issuance or maintenance cost.
  • Some allow you to make money transfers at ATMs.