About Reloadable Debit Card
A reloadable debit card is that form of a debit card, where the issuer of the debit card establishes a primary bank account and numerous subaccounts are set up under the primary bank account. Every subaccount is meant for a specific cardholder.
The subaccounts are set up and the embossing of reloadable debit cards with individual subaccount numbers is done before the cards are circulated to an 80 POS (Point of Sale) distribution network. The reloadable debit cards are bought from the merchants who are POS members at preset and progressive rates.
Value addition to reloadable debit cards can be performed in a gradual manner. The reloadable debit cards are sold to the cardholders after they are circulated to the Point of Sale member merchants and this results in subaccount credits.
Services and commodities can be bought through reloadable debit cards by debiting the subaccounts. Sometimes negotiable instruments like money orders can also be bought by using reloadable debit cards.