Once received, the recipient of the Prepaid Gift Card can use it to make online purchases or swipe the card in stores that accept payments from the card’s network (Visa, Mastercard, etc.). The preloaded amount of money keeps giftcardmall balance decreasing with every spend, until it is all over! Note that money cannot be withdrawn using a prepaid debit card.
After the bank gets the form and the payment of the required amount, it issues a Prepaid Gift Card in the name of the receiver. The bank also generates a PIN, which is then sent to the receiver. The PIN enables the Prepaid Gift Card holder to use the card and also check the balance on the card. The card is activated as soon as the money bank credits the money.
Banks do not charge any additional fee from their existing customers on purchase of a Prepaid Gift Card. Banks also do not charge anything on using the card. However, checking the balance in the card at any ATM may attract a small fee.