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Stored-Value Card

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Dictionary Says

Definition of 'Stored-Value Card'

A type of electronic bank debit card. Stored-value cards have a specific dollar value programmed into them. Banks provide these cards as a service for customers who cannot open checking or other deposit accounts.
Investopedia Says

Investopedia explains 'Stored-Value Card'

Stored-value cards can be divided into two categories. Closed-loop cards have a one-time limit; merchant gift cards and prepaid phone cards are two examples. Open-loop cards, on the other hand, can be reloaded with cash and used again.

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