If you want a more convenient way to pay for good and services online then transferring money from your bank account to a prepaid debit card online instantly can be a great way to get started.
Unlike bank accounts, prepaid cards are widely accepted as a payment method as long as they are under popular issuers such as Mastercard or Visa card.
Prepaid cards can be compared to virtual cards since both are totally independent and don't need a bank account to work. You can easily recharge your prepaid card online from your bank account or another prepaid card.
Prepaid debit cards are widely used by consumers to help them manage some of their spending. It's also possible to use these cards to provide kids and students allowance in a way that teaches them how to use plastic and transfer money to distant relatives.
However, you will need to recharge your prepaid debit card at some time. One way to accomplish this is to use a bank transfer to add funds.
That said, if you are interested to know more on how to complete this transfer, keep reading as we have compiled a step by step process to transfer money from bank account to prepaid card online instantly.
Can I Transfer Money from Bank Account to Prepaid Card Online Instantly?
Yes, you can. However, you will first need to gather information on your prepaid card such as its account number and routing number.
The next thing you'll have to do is to add the prepaid card to your regular bank. Once linked to your bank account, money transfer can be easy and instant between your prepaid card and bank account.
How to Transfer Money From Bank Account To Prepaid Card Online Instantly Step by Step
We will cover 3 simple steps to transfer money from a bank account to a prepaid card. Let's see how it can be done.
Step 1: Get Your Prepaid Card's Account and Routing Number
Though it's a prepaid debit card, it was certainly issued by a bank. As a result, you'll need to gather the information associated with your prepaid debit card. The account number that identifies your debit card may differ from the card number in some cases. You'll also need the card's issuing bank's routing number.
There are two ways you can get this information for your prepaid card.
1. Login to Your Account and Get the Number Online
Can you access your prepaid debit card account online? We usually set up an account when activating a card. You can check your balance and handle other prepaid debit card features this way. Look for a section that lets you add money to your card. You'll most likely find the routing and account numbers you need here.
2. Call Your Prepaid Card Customers Server
You can also call the customer service number for more information. Make sure you're aware that you want to use a bank transfer to add money to your debit card. They should be able to show you how to do it, or direct you in the right path on your online account.
You'll be able to set up direct deposit and perform other operations once you have it, in addition to depositing money via bank transfer.
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Step 2: Add the Prepaid Card to Your Regular Bank Account
You can link your bank account to other accounts in many cases. Most likely, you'll be able to set this up under a navigation item that lets you send money.
It's rather simple to move funds between different accounts opened at the same bank. If you wish to transfer money outside the bank, you'll need to search for an external account on your bank's website.
The good news is that an external account is usually saved once it is set up. So, if you need to transfer money, all you have to do is click on the prepaid debit card details and continue without having to re-enter your account information.
Keep in mind that your bank will most likely send test deposits before allowing you to move your money. Many banks send two of these deposits, which are usually less than a dollar. This is to make sure that the information you gave is accurate.
You must first verify your prepaid account to ensure that the deposits were made, and then enter them into the appropriate places on your bank's website. Set up a prepaid debit card as an external account with your bank might take anywhere from three to five business days, so plan beforehand.
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Step 3: Transfer the Money From Your Bank Account to Your Prepaid Card
You're ready to transfer money once you've set up your prepaid debit card as an external account with your bank. Simply go to the transfer page, select the account, and transfer the money.
You may be able to set up a recurring transfer depending on your bank. If you wish to transfer money from your bank account to your prepaid debit card, this makes sense.
This is especially beneficial when sending a living stipend to a child attending college or using a prepaid card for an allowance. You don't have to remember to move the money on a regular day of the month or week if you choose a regular day of the month or week.
However, keep in mind that most bank transfers take 3 to 5 business days, so the money may not arrive immediately. Make a plan ahead of time to avoid being surprised by time.
A bank wire transfer is a quicker way to send money, but it comes at a cost. Most banks charge $20 or more as a fee for wire transfers.
Keep in mind that this procedure can take several hours, and if you miss the daily cut-off time, your wire transfer may not be completed until the next day. Before you use a wire transfer, consider whether the fee is worthwhile.
To guide you on which prepaid card to choose for online transactions, here are the best virtual prepaid card to use now.
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How Long Does it Take to Transfer Money from Bank Account to Prepaid Card Online Instantly
We have two processes to consider here before estimating how long this transfer can take.
The process of linking your prepaid card to your bank account takes three to five days same as transferring money from a bank account to a prepaid card online instantly.
It may take 4 to 7 days for the entire transfer process to complete.
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Other Methods to Transfer Money to a Prepaid Card
Aside from a bank transfer, there are other options for adding money onto your prepaid debit card. You can try numerous alternatives to add money to your prepaid debit card without having to go via a typical bank because there are so many innovative financial products and services available.
Direct Deposit
Direct deposit is one option. Your employer can set up direct deposit for you. Each prepaid debit card will require routing and account number information, but once you've set it up, you can have a portion—or all—of your paycheck delivered to your prepaid debit card.
PayPal
PayPal is another option for funding your prepaid debit card. You can now add a debit card to your PayPal account and transfer money to it. Only the debit card number, expiration date, and security code are required.
This enables PayPal to transfer funds from your account to your debit card. In most cases, the transfer takes 10 to 30 minutes. The price is 1% with a $10 maximum, making it less expensive than many wire transactions from regular banks.
P2P Transfers
Your prepaid debit card can also be linked to your person-to-person payment app. Venmo is an excellent example. Add your prepaid debit card information to the Venmo app so you may transfer money to your debit card when people send you money. This takes only a few seconds and costs less than a dollar.
Final Thoughts on How to Transfer Money from Bank Account to Prepaid Card Online Instantly
You must be able to transfer money to a prepaid debit card if you use one as part of your financial management. When you've figured out your alternatives, you can reload your card using a bank transfer or one of numerous additional methods.