August 14, 2023

Hacks You Didn’t Know You Could Do With a Prepaid Card

As part of the working force, we all have that one bank account we use to withdraw our salary. The problem is, most of us don’t have other bank accounts aside from this, so we don’t get to separate our money. We usually end up with no savings because we use our debit card to do everything – daily expenses plus personal expenses like shopping. Owning a credit card has crossed our minds, but the demanding requirements make us take a step back, or worse, we’ve been declined.

Good thing there’s another option that will save us from money nightmares: prepaid card.

Prepaid cards are heaven sent; it lets you store your cash in one card to save you more wallet space. Compared to credit and debit cards, it’s very easy to apply for it: no tedious paper work and there’s definitely no maintaining balance. If these sounds favorable to you, scroll down to see more things you can do (most are exclusive!) that will make you want to own one.

  1. Be a smart budgeter
    There are times when we try to budget our money for different expenses like shopping, travel, commute—only to be tempted to buy something else especially when there’s a sale. Guilty? Here’s an idea: segregate your money with a prepaid card. It’s like the digital envelope where you divide your cash for different budget categories by getting an envelope for each expenses and putting a certain amount of cash per envelope. You can store your personal expenses like dining and shopping in this card, while your daily expenses like groceries and fuel are in your debit card. It’s accepted in lots of stores nationwide, so you can treat it like cash. With a prepaid card, it’s easy and convenient to enjoy the lifestyle you want without going overboard.
  2. Send money nationwide
    Ran out of allowance money? You can have it sent in no time when you have a prepaid card. Simply enroll your card in online banking and your parents can transfer funds from their RCBC Account in just a few clicks. You can have that card specifically for allowance purposes, so you can track your budget. Helps you to spend wisely too.
  3. Reload with the money you need
    Let’s say your grocery budget is Php 2,000. You can store that exact amount in your card so you can control yourself from buying things you don’t need and limit your spending to only Php 2,000. With prepaid cards, you can load and reload the exact money you intend to spend for a certain expense—may it be for shopping or groceries. It’s reloadable in all RCBC branches in the country, and you can reload again on your next salary or whenever you want. You can also keep track of your money by enrolling your card in online banking, and even transfer funds from your RCBC bank account to your prepaid card. With this card, you can curb your overspending.
  4. Skip the long application process
    Admit it: we all hate long application forms and demanding bank requirements just to get another card aside from our payroll one. Either we have no time to collect these requirements, or we don’t have enough. Some approvals even depend on our salary. Luckily for prepaid card, you just need one valid ID to avail one. Simply fill out an online enrollment form, present your valid ID, and pay the purchase fee of Php 150.00 and the initial loading amount of Php 120.00. It’s so easy.
  5. Treat it like credit and debit card—without the hassle
    If you’re still thinking twice about getting one, consider this: there are credit and debit card perks you can also do with your prepaid card. You can get first dibs on online items and even purchase exclusive and hot-ticket items at the comfort of your own home without dealing with long lines and shopping competitors. When an online sale pops up, we sometimes tend to spend more than we should when we use our debit cards. With prepaid cards though, you can limit your spending. You can also pay for your bills through prepaid card—from electricity bills to streaming websites. It’s the fastest growing payment method online. All these without the hassle of a maintaining balance and long application forms, and you get to easily separate your bills from other expenses.

Enjoy easy budgeting with RCBC MyWallet Visa, a reloadable prepaid card that has no maintaining balance. It’s so easy to apply for it; anyone over 18 can have one as long as you have a valid ID. Load it up with the budget you intend to spend for leisure and recreation then enjoy the perks and discounts of your card and stay within the budget that you’ve set. It’s the ultimate lifestyle wallet. Manage your expenses by applying for a MyWallet Visa Card now.

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