Prepaid Gift Card | Mastercard (2024)

FAQs

Does Mastercard have prepaid gift cards? ›

Instead of buying someone a retail store gift card, which is limited to spending in a particular store, a MasterCard prepaid gift card can instead be purchased, with a set amount on it (limits apply), of the buyer's choice.

Yes. You may withdraw cash against the balance on most Mastercard prepaid and gift cards at any ATM. However, not all prepaid and gift card issuers allow ATM or foreign transactions. Be sure to check with your card issuer to ensure that these types of transactions are permitted.

There is a difference between Visa gift cards and Mastercard gift cards in terms of their expiration. Visa gift cards expire 7 years after they are issued, and Mastercard gift cards are available until the balance on the card is $0.

Convenient and easy

Getting a prepaid card is easy, there's no credit check and no bank account required.

Most prepaid cards have a network logo (Visa, MasterCard, American Express, or Discover) and can be used anywhere that brand is accepted. Some examples include grocery stores, department stores, gas stations, hotels, and for online shopping. Prepaid cards can also usually be used for purchases over the phone.

How to redeem a Mastercard gift card? Once your gift card has been activated, you can redeem it simply by using it as your preferred payment option. The card will already have a monetary balance loaded, so you can simply input the details online or hand it to the cashier in-store.

In most cases, it can be something as simple as switching a couple numbers around in a long sequence, such as with the 16-digit activation code. Still experiencing issues? We suggest calling the customer service number located on the back of your Mastercard gift card.

Bluebird by American Express

Bluebird, issued by American Express, offers more than the average prepaid debit card, and you can load and spend money without paying fees. But Bluebird is slightly more limited when it comes to the number of places it's accepted, and it doesn't allow cash back at retailers.

If you have sufficient funds to cover the purchase, you were most likely declined due to security and safety measures meant to protect your Gift Card funds. Use your Card in person or at a different online merchant, and ensure to include the card security code.

If you live or work near a branch of your bank, you may be able to draw cash from your Mastercard gift card at an ATM and deposit it physically in your bank account. This is only possible, though, with a physical Mastercard gift card—virtual gift cards from Mastercard do not allow ATM withdrawals.

Who doesn't accept Mastercard? ›

Mastercard is not accepted at certain stores and merchants that only take cash, such as vendors at a local fair. Mastercard is also not accepted at retail chains that have an exclusive agreement with another card network. For example, Costco accepts Mastercard only for online purchases.

Disadvantages. Pre-paid debit cards do not help you build credit. Many pre-paid debit cards charge fees before you even start using them. There is usually a monthly fee and fees on common transactions such as ATM withdrawals, card replacement, direct deposit, and reloading the card.

Prepaid cards generally allow you to make purchases in the same way as credit and debit cards. The key difference is that prepaid cards aren't linked to a bank account or a line of credit. So to use one, money has to be loaded onto the card. Keep in mind that there may be fees to activate or use prepaid cards.