Lebara Money Credit Card - Keep or Replace?
Jo4
Posts: 6,819 Forumite
in Credit cards
I took a Lebara Money Card out for someone else and I received the following email on the 11th August but I am only remembering about it now,
"Dear Cardholder,
This is to give you 60 days notification in accordance with clause 13.1 of the Lebara Prepaid MasterCard® terms and conditions that with effect from 28th August 2016 there will be a minor change in the terms and conditions and there will no longer be an automatic renewal when your card expires and the card will no longer be renewed. If you wish to cancel your card now you can by contacting us at lebara-money@qcs-uk.com and there will be no redemption fee.
You do not need to take any action now but if you have any other questions please contact our customer service on 01235 252000.
Lebara Customer Service Team"
Should I close this account? As far as I remember 2 years ago £20 had to be paid for the 2 cards for the account. Is there any similar card which you would recommend that doesn't charge fees and which when you credit it the cash is available to spend immediately?
"Dear Cardholder,
This is to give you 60 days notification in accordance with clause 13.1 of the Lebara Prepaid MasterCard® terms and conditions that with effect from 28th August 2016 there will be a minor change in the terms and conditions and there will no longer be an automatic renewal when your card expires and the card will no longer be renewed. If you wish to cancel your card now you can by contacting us at lebara-money@qcs-uk.com and there will be no redemption fee.
You do not need to take any action now but if you have any other questions please contact our customer service on 01235 252000.
Lebara Customer Service Team"
Should I close this account? As far as I remember 2 years ago £20 had to be paid for the 2 cards for the account. Is there any similar card which you would recommend that doesn't charge fees and which when you credit it the cash is available to spend immediately?
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Comments
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It sounds like Lebara will be discontinuing this card as there is no mention of how to renew(?). There are much better value options available such as Pockit, Revolut, Monzo (perhaps), so better to take advantage of the free redemption/cancellation.Evolution, not revolution0
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What is the attraction of pre-pay cards that charge a fee?
I just don't get it.0 -
Pockit or Soldo. Both charge fees as does the Lebara prepaid card. Whether Soldo is cheaper than Pockit depends on how many ATM withdrawals are done. UK ATM withdrawals on Soldo are 50p compared with 99p for Pockit. But Pockit has no monthly fee but Soldo has a £2 monthly fee currently reduced to a promotional £1 per month. Soldo has the edge though for £1 overseas ATM withdrawals compared wih £2.25 on Pockit and fee free currency exchange compared with 4% on Pockit.
Depositing by debit card is free on Pockit but £1 on Soldo. Speed of crediting the account are about equal with deposits by debit card almost instant and deposits by bank transfer free on both cards taking a few hours. But deposit by bank transfer on Friday afternoon and it won't be credited until the next working day, mostly Monday.
Lastly Soldo has the edge with their iOS or Android app which you must have in order to control the account.
Currently I have both but I expect to dump Pockit and stay with Soldo mainly because I like the controls I get with the app.
https://www.soldo.com/en-uk/
http://www.pockit.com/0 -
In general prepaid cards have very limited attraction, when virtually everyone can now have a basic bank account debit card. But some have low or no charges and can be useful in various ways.jonesMUFCforever wrote: »What is the attraction of pre-pay cards that charge a fee?
My Pockit card has cost me nothing since the initial 99p fee, and they paid me a £5 bonus after my first top-up of £10. Since then I keep no more than £5 on it and occasionally use it online for such things as opening a Globalgig data SIM account free trial and foreign hotel bookings that I'm not sure I will need, secure in the knowledge that any higher amounts cannot be taken.
Soldo I'd never heard of (thanks Anthorn), I can see it being useful for a child's subsidiary card on foreign school trips etc.
Revolut is totally free within the 'fair usage' limits, extremely useful in many ways and has saved me real money.
Monzo is a prepaid card hoping to become a bank next year, and appears to have no fees.Evolution, not revolution0 -
Monzo is a prepaid card hoping to become a bank next year, and appears to have no fees.
Monzo previously Mondo is in Beta, the Android app doesn't work at all on my phone and they require a top-up of £100. But to be fair they do say that the £100 can be spent immediately the card is received. I would have thought that they would have sorted out the app when it was Mondo. No fees though that I can see. Monzo joins a trio of Fintech so-called challenger banks, Tandem, Atom and Starling which make promises of a full bank account but nothing more than promises. At least Monzo's method of collecting money is different from the others.
https://community.monzo.com/t/initial-top-up/2053
Personally, I've used Pockit as an alternative to Paypal mainly because Paypal is a pain in the neck when it comes to removing a credit card. I've dumped Paypal and also ebay. But since getting my Soldo card I'm using it more for budgeting and everyday shopping as well as online purchases to £200 per month. Rock solid so far and the card being issued by Paysafe has to be relevant.0 -
Which card would be best for spending online in different currencies?0
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Revolut. As soon as you sign up on the app and load some money you can use the virtual MasterCard for 90+ currencies.
Thank you!
I have looked for the answers to the following questions but I cannot find them Can anyone answer these questions regarding Revolut?
Do you need an actual card to add the details to Paypal?
Is there an initial fee for the card?
How long is the card valid for?
How much does the card cost to renew when it does expire?0 -
Having never done so, I'm not sure. My Revolut card is valid for three years, so I imagine if you order a card now you could enter it's expiry date to PayPal as 10/19. But using Revolut with PayPal (instead of using it directly for payment) you risk complication and PayPal's rates/fees.Do you need an actual card to add the details to Paypal?
There are no fees for the Revolut card or anything else, apart from the 'fair usage' limitations:
https://revolut.com/fairusage
I would guess that Revolut will not charge for a card renewal if has been used regularly, but this is only their second year...Evolution, not revolution0 -
Having never done so, I'm not sure. My Revolut card is valid for three years, so I imagine if you order a card now you could enter it's expiry date to PayPal as 10/19. But using Revolut with PayPal (instead of using it directly for payment) you risk complication and PayPal's rates/fees.
There are no fees for the Revolut card or anything else, apart from the 'fair usage' limitations:
https://revolut.com/fairusage
I would guess that Revolut will not charge for a card renewal if has been used regularly, but this is only their second year...
The person who this card is for is constantly making small purchases online between £3 and about £10.
The previous card was added to their Paypal account for their convenience. Does this mean that they would now need to enter the card details every time?0
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