Before, when we used to talk about prepaid cards, these were often SIM cards that you could find in the general store. But recently, things have changed.
We are seeing prepaid payment cards pop up everywhere. They enable you to make as many card payments or withdrawals as necessary... as long as there’s enough money on them. You then have to top up your card to be able to use it again.
So, you’re going to say that that’s exactly what you do with your Qonto card: you can spend the money you have in your current account, as long as there’s some there.
But that’s where the main difference lies.
A prepaid card is not necessarily linked to a bank account. 🏦
In concrete terms, the money you have topped up on your card is only stored in an electronic wallet (which is sometimes called a payment account). This wallet is not therefore necessarily linked to an IBAN for example. However, with Qonto, you have a bank account with all the services that go with it: SEPA transfers and direct debits for example.
Another thing: your Qonto card protects you against the risk of fraud, travel contingencies or work accidents, while most prepaid cards have no insurance.
In addition to not being a credit card, it would seem that your Qonto card isn’t a prepaid card either. And so there’s only one scenario remaining. 🤓