Basic, non-reloadable prepaid cards purchased with cash can be used with limited personal information, though they have lower balance limits (usually $500 or less). However, reloadable prepaid cards require registration with your name, address, date of birth, and social security number to comply with anti-money-laundering regulations and unlock higher balance limits.

Once registered, your identity is linked to the prepaid card and transactions can be traced. Law enforcement can access prepaid card records with appropriate legal authority. While prepaid cards offer more privacy than bank accounts for everyday transactions, they're not completely anonymous financial tools.