Prepay debit cards are very useful to purchase goods or services in many countries and risk of carrying large amount of cash can be avoided. At the same time, it can be disadvantageous when not kept safely. To withdraw cash using your prepaid debit card from the nearest ATM, you need to have a secret PIN. This PIN must be changed at regular intervals so that your debit card is kept safe from unauthorized usage. The PIN should not be revealed at any cost to anyone. If not, anyone can use it to withdraw large amount of cash from your account and may misuse your prepaid debit card.
To keep your cards safe, banks and debit card issuing companies provide an option with which you can have a limit beyond which you purchase or withdraw money per day. This is very helpful when you misplace the card when the probability of someone else finding and using it is high. Since it is very easy to reload funds to your prepay debit cards, you may not keep track of how much you are spending and may overuse it. Hence, it should be used carefully and wisely.
