Introductory BSA/AML Examiner School, Atlanta, CA

Prepaid Access

Prepaid Cards:

• Open Loop System

• Closed Loop System

Prepaid Cards

Open Loop System: • Used for purchases at any merchant that accepts cards issued for use on the payment network associated with the card • Access cash at any ATM that connects to the affiliated ATM network • Examples include payroll cards, general purpose reloadable cards and certain gift cards