Cards
What is a prepaid card, and how is it different from a debit card?
Prepaid, debit and credit cards look the same at the till. The difference is where the money comes from. This guide explains how a prepaid card works, how it compares with debit and credit cards, and what to check before you choose one.
What is a prepaid card?
A prepaid card is a payment card that spends from a balance you fill up in advance. You add money, you spend it, and when the balance runs low you add more. Because you can only spend what is there, a prepaid card is not a loan and there is no credit limit to pay back.
Prepaid cards are usually issued on a card network such as Visa® or Mastercard®, so you can use them in shops and online wherever that network is accepted. Many are linked to an app, where you see your balance and every payment.
Prepaid vs debit vs credit card
Prepaid card: spends from a balance you top up yourself. Its money is kept apart from your main bank account.
Debit card: spends straight from your bank current account.
Credit card: spends money the card provider lends you, which you repay later, often with interest if you don't repay in full.
A prepaid card suits people who want a separate pot for everyday spending, travel or online shopping, and who like to see exactly how much is left before they pay.
What can you use a prepaid card for?
Paying in shops, by tapping or inserting the card.
Paying online and for subscriptions. Some online payments ask you to confirm with 3-D Secure; see what is 3-D Secure.
Taking out cash at ATMs with a physical card. Virtual cards can't be used at ATMs. The ATM operator may add its own fee.
Spending abroad, with a few checks first; see using your card abroad.
How the ODIX card works
Every ODIX card is linked to your ODIX Pay balance. Odix White, Odix Black and Odix Rose Metal are Visa cards you can use wherever Visa® is accepted. Odix Purple is a virtual corporate card that works at Mastercard® merchants.
Virtual card in the app once your identity is verified, for paying online.
Physical card ordered in the app: Odix White and Odix Black are plastic, Odix Rose Metal is metal. Delivery times depend on your country.
Live balance that updates with every payment, and each payment shown in the app.
Freeze and unfreeze the card from the app. If you lose it, freeze it and order a new card in the app. Freezing one card doesn't affect your other cards.
Phone wallets: ODIX Mastercard® cards work with Apple Pay and Google Pay; ODIX Visa® cards work with Google Pay.
Not sure which one to pick? See virtual card or physical card.
Step by step
How to start using a prepaid card, step by step
Open your account
Download the ODIX Pay app, sign up and verify your identity.
Choose your card
Pick the ODIX card that fits the way you spend. Any card fee is shown in the app before you order.
Add money
Top up from your own bank with Bank & Local Payment, with a card transfer from any bank's app, or by bank transfer to your virtual IBAN.
Start paying
Use the virtual card online as soon as it's in the app, and the physical card in shops once it arrives.
Keep an eye on your balance
Every payment shows up in the app, so you always know what is left.
Not sure which way to add money? Our guide on open banking vs card top-up compares the options.
What to check before you choose a prepaid card
Fees: card fees, top-up fees and cash withdrawal fees differ between providers. With ODIX, fees and limits are shown in the app before you order or confirm; for an overview, see the help centre.
Where it works: check the card network and whether the card can be used in the countries you visit.
How you add money: the more ways you can top up, the easier it is to keep the card ready.
Control: look for an app that lets you freeze the card and see every payment.
Good to know
ODIX Pay is a payment app, not a bank, and your balance is not a bank deposit. Card fees, top-up limits and spending limits depend on the card and are shown in the app before you order. Never share your PIN, CVV or one-time codes with anyone.
Disclaimer: This guide is provided for general information only. It is not legal, financial, investment or other professional advice. Features, steps and availability depend on your country and eligibility, and they may change when the app is updated. Where fees or limits apply, the ODIX Pay app shows them before you confirm.
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