Stored Value Card

A Stored Value Card is a prepaid card that holds a specific amount of money, which can be used for making purchases or accessing services. Unlike credit or debit cards linked to a bank account, the value is loaded onto the card in advance. It’s convenient for budgeting, gifts, or specific transactions, and it can often be reloaded with additional funds. Examples include transit cards, gift cards, or prepaid debit cards. The key feature is that the card’s balance is maintained electronically, and it deducts funds each time it’s used until the balance is depleted.