PREPAID Meaning and
Definition
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Prepaid, as an adjective, refers to a method of payment where funds are added to an account in advance, typically before services or goods are obtained. It implies that the payment is made prior to the actual use of the product or service. This form of payment often involves buying a prepaid card or voucher that holds a specific monetary value which can be redeemed for purchases.
In this context, "prepaid" also commonly refers to prepaid mobile or phone services. These are subscription plans where users pay for their mobile service in advance, usually by purchasing a specific amount of credit that is loaded onto their account. This credit is then deducted based on their usage, such as calls made, texts sent, or data consumed. Once the prepaid credit is exhausted, the user may need to recharge or purchase additional credit to continue using the service.
The term "prepaid" can also be associated with other forms of financial instruments, such as prepaid debit cards or prepaid travel cards. These cards are loaded with a predetermined amount of money, enabling the user to make purchases similar to a regular debit or credit card. However, prepaid cards are limited to the available balance on the card and cannot be used for transactions exceeding that amount.
Overall, "prepaid" refers to paying for goods, services, or financial transactions in advance, usually involving the use of prepaid cards, vouchers, or credits. It offers convenience, budget control, and eliminates the need for immediate cash or immediate payment at the time of purchase.
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Etymological and pronouncing dictionary of the English language. By Stormonth, James, Phelp, P. H. Published 1874.
Top Common Misspellings for PREPAID *
* The statistics data for these misspellings percentages are collected from over 15,411,110 spell check sessions on www.spellchecker.net from Jan 2010 - Jun 2012.
Other Common Misspellings for PREPAID
Etymology of PREPAID
The word "prepaid" originated from the combination of two elements: "pre-" and "paid".
The prefix "pre-" comes from the Latin word "prae-", meaning "before" or "in advance". It implies something that is done or comes before the expected or usual time.
The word "paid" is derived from the Middle English word "paiden", which itself comes from the Old French word "paier" meaning "to pay". It refers to the act of giving money or equivalent value in exchange for goods or services.
Combining these elements, "prepaid" indicates an action or state where payment is made in advance, before the receipt of goods or services. It suggests that something has been paid for before its usage or consumption.
Similar spelling words for PREPAID
Conjugate verb Prepaid
CONDITIONAL
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FUTURE
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FUTURE PERFECT
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will have prepaid
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PAST
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prepaid
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prepaid
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PAST PERFECT
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had prepaid
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PRESENT
I
prepay
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prepay
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PRESENT PERFECT
I
have prepaid
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I
am prepaying
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was prepaying
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would have prepaid
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