UAccount - Card Usage Charge?

T-G-C · 6 March 2018 at 2:15PM

Hello,

I am looking to obtain the UAccount prepaid card, the free version, however their fees section uses wording which avoids card charges and I am uncertain on whether their "outgoing" charge of £1 (Direct Debit's etc.) includes using the card each time.

I already know that the free version charges for ATM, Faster Payments going out of the account etc. which is not a problem.

Do they charge £1 each time for using your card in-store, online and on gambling websites? If so, the card would be expensive and useless, however their live chat to ask is for customers only and I didn't hear back on the contact form. It is important I know the answer before going ahead with it.

Do they report the account to your credit file like mainstream banks do? It wouldn't be ideal to have it reported as I already have Nationwide doing so on my behalf.

If anyone who holds a UAccount could clarify this, that would be brilliant!

Thanks!

SnowTiger · 6 March 2018 at 5:07PM

T-G-C wrote: »

Hello,

I am looking to obtain the UAccount prepaid card, the free version, however their fees section uses wording which avoids card charges and I am uncertain on whether their "outgoing" charge of £1 (Direct Debit's etc.) includes using the card each time.

I already know that the free version charges for ATM, Faster Payments going out of the account etc. which is not a problem.

Do they charge £1 each time for using your card in-store, online and on gambling websites? If so, the card would be expensive and useless, however their live chat to ask is for customers only and I didn't hear back on the contact form. It is important I know the answer before going ahead with it.

Do they report the account to your credit file like mainstream banks do? It wouldn't be ideal to have it reported as I already have Nationwide doing so on my behalf.

If anyone who holds a UAccount could clarify this, that would be brilliant!

Thanks!

No charge to use the card in the UK.

I don't know if you can use it for gambling.

https://www.uaccount.uk/pricing?fees-tabs=standard-fees is a little confusing.

On that page, PAYMENTS OUT £1 refers to the charge for direct debits and (outgoing) bank transfers.

If you can live without direct debits, you might find Loot a better option. Fees here.

Prepaid cards don't report to CRAs. Not being a bank is one of U's selling points. It's aimed at people who think they can live off the grid.

T-G-C · 6 March 2018 at 5:26PM

SnowTiger wrote: »

No charge to use the card in the UK.

I don't know if you can use it for gambling.

https://www.uaccount.uk/pricing?fees-tabs=standard-fees is a little confusing.

On that page, PAYMENTS OUT £1 refers to the charge for direct debits and (outgoing) bank transfers.

If you can live without direct debits, you might find Loot a better option. Fees here.

Prepaid cards don't report to CRAs. Not being a bank is one of U's selling points. It's aimed at people who think they can live off the grid.

Thanks for the clarification. You are correct, their information is intentionally hazed to avoid losing custom over any limitations with the service.

As they are licenced, the FIU and HMRC can still catch people who feel "Off the Grid" with their services. I would hope people wouldn't feel like such.

Aside from that, they can be useful assets for financial management and separating general spending from business.

UAccount - Card Usage Charge?

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