The Bank of America prepaid card is fast becoming a card option for many Americans, especially those that don’t like to deal with banks. As the name implies, the card is a prepaid card, which means that you can only be able to use it once you’ve loaded money unto it.
Needless to say, most prepaid cards work exactly like the regular debit cards that banks issue.
However, one major difference is that in prepaid cards, you’re limited to the amount you’ve loaded unto the card while in a regular debit card, you can spend as much money that is available on the associated bank account.
The Bank of America prepaid card is still a top option amongst many Americans because it is very flexible, does not require you to have bad or good credit, available 24/7, can be used for car rentals and can be gifted to someone as a gift. The card is co-branded with the Visa logo meaning it can be used anywhere you see the Visa logo. The card can be used to make purchases in stores, online, by mail, and by phone just like a regular Visa debit card.
However, it does not allow you to carry a credit balance. I like prepaid cards because they can be used to build a good spending habit (i.e they allow you to manage how you spend your money and on what you spend your money on).
What are the benefits of having a Bank of America Prepaid Card?
There are so many benefits associated with using a prepaid card but the obvious ones include:
- It is easy to get (you don’t require a good or bad credit score)
- It gives you better control over how you spend your money.
- Zero Liability — this means that you’ll not be held liable for any unauthorized use of the card provided you notified BOA immediately the theft occurred.
- You can access it anytime any day.
- It can be used to make purchases anywhere Visa Debit Cards are accepted.
How do I Apply for Bank of America Prepaid Card?
- You can apply for the card by visiting the bank of America website.
- Then go to the prepaid card section and fill in the application form.
- Generally, you’ll be asked to give your legal full name, zip code, SSN/TIN, email address and date of birth to allow BOA to verify your identity.
Alternatively, you can apply for a prepaid when you visit any Bank of America branch. Use this tool to find BOA locations near your area.
Have a BOA credit card that you wish to activate? Read this article to learn how to activate your Bank of America credit card. For debit cardholders, you can learn how to activate your BOA debit card here.
Once you’ve gotten your card by mail or at the branch you can start putting it to use right away. However, you’ll need to first load cash unto it before you can start using it to make purchases. Depending on what you plan to use your card for, you may decide to register it or not. I’ll advise you to register your card if you’re planning to use it online because most online merchants require you to have a valid billing address before payment can be processed. Now when you register your card online, the address you put serves as your billing address.
How to register Your Prepaid Card
You can register your card online by visiting www.bankofamerica.com/commercialprepaidcard or by calling 1-866-213-8564. You’ll need to enter your card number, your full name, address and last four digits of your Social Security Number before your card can be registered.
How to Activate Your Bank of America Prepaid Card
- Visit www.bankofamerica.com/commercialprepaidcard from your browser.
- Next, under the “Manage your card” enter the first 6 digits of your card number and click on “Go” to Continue.
- Finally, enter your zip code, PIN, last 4-digits of your SSN to activate your card.
Using Your Prepaid Card
You can use your prepaid card just as you use the regular debit card. You can use your card to do the following:
- Shop online
- Withdraw cash from the ATM (Visa, MasterCard or Cirrus ATM)
- Pay bills (hotel, restaurant, gas stations, grocery, etc)
How to Sign In to Your Consumer Prepaid Card Account
- Visit www.prepaid.bankofamerica.com/commercialprepaidcard from your browser.
- Click on the “Sign In” button to proceed.
- Finally, enter your username and password to sign in to your Consumer payments prepaid card account.
Need to report a lost or stolen card: Call 1-866-213-8564