Those reading a BitGold review (such as this one http://www.playersmoney.com/bitgold/) may be wondering what the difference is between a BitGold prepaid card vs. other prepaid cards. Actually, they are quite similar in that funds need to be there before they can be spent, but really, that is just about where the similarity ends. A GoldMoney BitGold Prepaid MasterCard has benefits you just won’t find with other prepaid cards and that is what makes it so attractive to BitGold members (as mentioned in http://goldiraguide.org/bitgold-review/)
Used Just as You Would a Bank, Credit or Debit Card
When you make your initial purchase of gold through BitGold, you are given one free prepaid card that can be reloaded from your BitGold account as needed. You can use the equity build in your gold savings account to load your card which can then be used at POS locations, online or even over the phone to make payments. Whether you choose to redeem gold from your vault or simply use your earnings that have accrued, you can simply load your card and use it as you would any other credit or debit card.
At a point-of-sales location you would either sign for your purchase or enter your pin as usual and when buying or paying anything online it would be the same as using your bank card. Typically, you will be asked for the card number, the expiration date, the cardholder’s name and on the back the three-digit security code. This is just like any other card so the process should be familiar.
How Funds Are Added to Your Card
Once you set up your BitGold account you can access settings on your prepaid card online from the main website. With a BitGold prepaid card you can draw on what you have in gold in your account and the main benefit of that is in the fact that your funds are there in gold, not in Federal Reserve currency. Actually, once merchants understand that this card is so much safer and more reliable than a bank card they will be asking you to pay with your BitGold prepaid money card! There are rumors that the bottom is about to fall out of the economy again so merchants and bill collectors will appreciate being paid literally in gold.
Currencies Currently Available
At the moment the only currencies you can load your card in are United States Dollars, Great British Pounds and Euros. However, as three of the world’s strongest currencies they are accepted just about anywhere no matter how remote the location. One thing you may want to keep in mind here is that many countries might charge a conversion fee for converting one of those three to the national currency in question. For example, if you were buying something in Switzerland and using your prepaid card they would need to convert dollars to the franc and there’s usually a charge for doing that from most foreign banks.
It is suggested that if you are going to travel to a country where the currency is any other than those three, you convert the money at home at your local bank so that you will not incur a higher fee in a foreign country. Some merchants will accept USD even though their national currency is different. These are things you would need to check in advance, but it is the same with any other card so you are probably aware of the procedure.
No Administrative Fees or Interest on Purchases
Here is the real benefit you will learn about in a BitGold review of the prepaid money card. Unlike other types of prepaid cards you will never be charged interest on purchases or administrative fees for using the card. You will not need to pay a ‘load fee’ and, of course, the amount you can spend is not dependent upon your credit rating but rather how much in gold you have to spend. That is to say, how much you have redeemed and loaded onto your card. When it comes to choosing between a GoldMoney BitGold prepaid card and another prepaid card, BitGold’s prepaid card wins it hands down each and every time. There is no high rate of interest assessed when you use your card and your funds are seen as safer by merchants because they are backed by real gold vaulted with Brinks.
With no monthly fees to pay, no high rates of interest and the ability to use them anywhere the MasterCard, Cirrus or Maestro logos are accepted, this is your most affordable and reliable prepaid card option. BitGold makes buying, saving and spending gold accessible to the average investor and that’s why there is such an emphasis on the BitGold prepaid card. It’s one way of making life easier for their members — and that’s what you’ll find in an honest BitGold review of the prepaid money card from BitGold.
from BitgoldReview.org http://www.bitgoldreview.org/bitgold-prepaid-cards-vs-prepaid-cards/
Originally published on Wordpress