Answer:
No. You won’t be able to extend credit via a negative balance on a prepaid account, with certain very limited exceptions. You will be able to offer a credit feature linked to a prepaid account (making it a “hybrid prepaid-credit card”), but not until at least 30 days after the prepaid account has been registered, and consumer consent will be required before adding the credit feature.
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Learn more about John Burnett’s webinar
Prepaid Accounts – Are you ready for April 1?
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