Many times one is asked to give an account transaction list in pdf (what are they called??) Perhaps when buying a house or starting a new job. I'd like to use a prepaid card account that accepts wire payments, one that has an IBAN number, instead of a normal debit account, for my salary and all daily transactions. What are the social disadvantages of this preference? Is a bank account really not substitutable by prepaid cards? Financially there's no difference for me but how would it make my life harder when someone wants to see my account summary?

  • I'm not from the UK. What is the difference?
    – littleadv
    Sep 15, 2022 at 15:08
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    I'd question "many times". One generally needs an account statement if you're applying for a home loan but that happens a few times in a life. But I'm hard-pressed to imagine why a new employer would need to see a statement. If you're really worried about being able to get a mortgage, a lot will depend on why you're avoiding the regular banking system. If that's the only unusual thing about your finances, an underwriter might look a bit more closely at your file but that's about it. If you do other unusual things, however, that might raise red flags. Sep 15, 2022 at 15:20
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    Can your emplayer even pay into a prepaid card account? Most expect to pay into a bank current account.
    – Simon B
    Sep 16, 2022 at 9:45
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    You've asked for a card that can accept incoming transfers and has an account number. I have to ask how this is different from an ordinary bank account, and what your reasons for avoiding a more usual account are? Oct 15, 2022 at 21:34
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    Can you tell us why you want to do this? Nov 9, 2022 at 16:47

1 Answer 1


Pre-paid cards are notoriously difficult/terrible to deal with if you have to do anything outside of a simple transaction.

Checking the balance is a chore.

The website is usually an abomination.

Customer service is usually non-existent and the toll-free number is 100% automated with no way to speak to a person.

The bank which issued the card has a tendency to sell their assets numerous times, much like how debt gets sold.

I don't even want to imagine the process of getting your money in cash or getting it transferred to a real bank once you realize how atrocious the experience is.

I can't even begin to imagine the nightmare of losing your card which was issued by a bank which only exists virtually and is unwilling to talk to you.

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