How Do Prepaid Debit Cards Work?
Posted by | Posted on 13-07-2010
With no interest rates, no transaction fees, high fraud protection and emerging rewards programs, pre paid debit cards are now being embraced by people. Yes, the public generally loves them and are easily replacing credit cards as a mode of payment. But, if you can’t borrow from a debit card how exactly does it work?
Here’s how. Whether they call it a check or charge card, they all mean the same a prepaid debit card. This card functions similarly like the old credit card. With a single swipe, shop online, pay a transaction and even shop abroad it can be easily done. The
New York State is waging a campaign against rogue debt collectors, and New York Attorney General Andrew Cuomo is currently suing 35 law firms and two debt collectors, trying to overturn 100,000 judgments in which the companies allegedly broke the law. The firms and collectors all hired American Legal Process (ALP), a Long Island-based company that failed to serve thousands of consumers with legal papers, Cuomo alleges. Many victims discovered they were being sued only when they found their wages garnished or their accounts frozen.