Credit Card Post Pay and Post Pay Evolution: Differences between the two cards
The credit card is an electronic means of payment, which uses the Visa, Mastercard, American Express and Diners circuits and which, as the word itself says, is based on a credit provided by the bank without actually having money available in the current account , of course you need guarantees and requirements to obtain it, but in essence it allows you to have time available between the purchase and the payment for the retrieval of the sum.
The traditional Post Pay over the years has then turned into a card with more functions taking the name of Post Pay Evolution , which differs from the first because it has an TAN , of the coordinates just like a current account, which for this reason brings it closer to the credit card , but which still remains a rechargeable card with some certain characteristics. Let’s see some differences between these three electronic payment methods
What is and how does the credit card work?
The credit card is an “electronic money”, has an identification number, an expiry date and a security code in the name of the holder, and in the latest credit cards issued there is also a microchip for Contactless technology, which allows you to swipe the card on the POS to make the transaction even faster.
The main payment circuits worldwide are Visa, Mastercard, American Express and Diners. The credit card is usually connected to a current account and allows you to debit the payment to the account at a later time, usually within 30 days of the transaction. The credit card therefore allows you to make purchases in a shop or on the Internet easily and safely.
Costs and limits of use of the credit card
The credit card is issued only to adults, and sometimes the maximum age limit is also set to obtain it which is between 70-75 years, also to request it you must have a current account with the issuing bank on which in the date set in the contract shall be charged all expenses incurred in the previous month, this type of card is called the balance, and has many assurances from the bank that combines the card a credit limit, or a limit, a maximum monthly spending limit.
There is also another type of credit card, called revolving which does not require the presence of a current account but for which it is necessary to prove that you have an income, salary or pension, and it is a credit line adopted by the bank that finances the customer by allowing him to repay the sums in installments or in a single solution at the rate established by the contract.
The credit card can be requested at the bank where you have the current account or online, in the home banking section, you must in any case fill out an application form in which you will find the data relating to the identity card, the tax code, the documentation to demonstrate income (e.g. a paycheck for the employee) and a residence permit if the applicant is a foreigner.
The card can be opened with a minimum amount which must at least coincide with the credit line agreed with the bank. The credit card has an annual or monthly fee (in online banks often is zero this canon) and has costs for pick up at the counter, payment of utilities, extract the sending account and sometimes are counted any costs for the loss, theft, cloning or demagnetization of the card.
Costs and limits of use vary according to the type of contract signed with the issuing bank. In general it is a very convenient electronic payment method to not always have cash behind, but it is also very common to forget the access data or lose it, in which case you need to contact the bank to block it.
What is and how a Post Pay works
Post Pay is a prepaid card, it is currently available in seven versions, among the best known are Post Pay Standard (also available in the Junior variant for children between 10 and 18 years) and Post Pay Evolution .
The Post Pay Standard, is the most traditional one to be clear and allows you to make purchases in Italy, abroad or on the Internet within the Visa circuit and to withdraw at ATMs, Postamat and bank.
For payment in a real shop just insert the card and enter your PIN while for online purchases you must enter your card number, expiry date and security CVV code on the back when requested.
Costs and limits in the use of the standard Post Pay
The Post Pay Standard does not have annual management costs, nor costs for payment at post offices, POS, Visa, Visa / Electron and for mobile top-ups.
To request it you must go to the post offices with an identity card and tax code, the cost for the release is 5 USD, to which must be added another 5 USD of minimum top-up for activation.
You decide the top-up amount, taking into account that you can top-up up to a maximum of 50,000 USD per year on the total prepaid cards registered to the same cardholder and that the maximum credit limit of the card is 3,000 USD, i.e. it cannot contain more of this amount. While the withdrawal must respect the limit of 250 USD per day.
What is a Post Pay Evolution
The Postpay Evolution is always a prepaid card issued by Poste Italiane, which in addition to allowing the functions of a standard Post Pay, has an TAN , coordinates as a current account, with which you can credit wages and pensions, house bills or make transfers.
Post Pay Evolution looks like a traditional credit card, but differs in the fact that the sums of money are “scaled” directly from the amount charged on the card.
Costs and limits of use of the Post Pay Evolution
Post Pay Evolution has an annual operating cost of 10 USD and some operations have a minimum cost. To request it, the same procedure used for Postapay Standard at the post office is carried out, and the cost for the issue is 5 USD, while the maximum annual recharge is 100,000 USD on the total of Post Pay Evolution owned by the same owner and taking into account of the plafond of 30,000 USD.
The maximum daily withdrawal instead is 600 USD. It is a very safe and convenient prepaid card, in fact it also has the Contactless chip, with which you just swipe the card on the POS and the payment is made, also within the cost of 25 USD no PIN is required.