Prepaid Voucher (Paysafecard)

A prepaid code bought with cash or card that can be redeemed to deposit without linking a bank account, but generally cannot receive withdrawals.

Definition

A prepaid voucher is a fixed-value code, sold at retail or online, that a customer redeems to fund a deposit. The best-known example is Paysafecard: the buyer pays for a PIN and enters it to top up, without sharing bank or card details. Vouchers appeal to customers who want to control spending to a set amount or avoid linking accounts, and they carry no chargeback. Their key limitation is that they are usually a deposit-only, one-way rail: winnings cannot normally be paid back to a voucher, so customers must add a separate withdrawal method (and complete KYC) to cash out. Anonymity and cash purchase also make vouchers a focus of AML controls.

Worked example

A customer buys a prepaid voucher with cash at a shop, redeems the PIN to deposit, and later has to register a bank account to receive any withdrawal.

Why it matters

For learners, prepaid vouchers show a one-way, bank-free way to deposit and its withdrawal trade-off. For professionals, their anonymity and cash origin raise AML and source-of-funds questions that require compensating checks.

Related

Note: Naming Paysafecard is descriptive of the voucher model, not an endorsement; redemption and withdrawal rules vary by provider and region.