Outrageously Funny Word Dictionary :: Prepaying

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What is the definition of prepaying? 🙋

👉 Prepaying is a concept in finance that involves setting up an account with a financial institution or service provider, often referred to as a prepaid card. These cards are typically used for making purchases without having to pay a fee upfront. They can be used for various purposes such as grocery shopping, dining out, and even online transactions. Prepaid cards differ from debit or credit cards in that they do not require an initial deposit or monthly payments. Instead, the holder can use the card's funds at


prepaying

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