Prepaid Visa / MasterCards

blueopal5577

Having lived without a visa card for the past couple of years, one thing I have missed is the ability to go out without ensuring I have enough cash for every possible probability. (carrying cash for me means more chance of spending on small items) Ive also missed out on good deals on the internet for books for courses etc. I couldve saved a bundle getting 2nd hand text books from amazon!

Im now converted to the PREPAID cards. Most current bankrupts will probably already know but I guess this thread is aimed at any lurkers (like me) who did not know the benefits.

You top it up, you can even have your wages put on if you needed it although no recommended as its £1 per cash withdrawel. There are no transaction fees (on mine the Gold Prepaid cashcard) You pay a flat fee of £4.95 a month, by putting the money onto the card. You dont want to use it? Dont pay it.

If you dont want to use it regularly, you can opt not to pay the £4:95 but instead pay £1 per transaction. This is good if you only need it for the occasional internet purchase or bill payment. These details are for the card Ive got but there are several with different benefits:

http://www.compareprepaid.co.uk

Anyway you can use it just like a normal Visa or Mastercard. Having done 2 years on an ATM card, I just wanted to let people know of the benefits.

I have no link to these companies! I know its not directly to bankruptcy but having lived like a BR (no credit, just cash, bad credit reference) for 2 years I just wish i'd known earlier


Hope it helps someone, lurker or otherwise! lol

storminbalder

Why not just get a debit card from a bank for free. I have a Maestro card, and find it just as acceptable as Visa or Mastercard (in fact I believe it uses the same system as Mastercard - same company).

I appreciate if undischarged options are limited to the Visa Electron (Co-op Bank), but if discharged you should find a fairly wide choice options open to you.

Sorry, but I just don't see the point in paying for something that's available for free elsewhere.

fatou256

yes but if u cannot have a coop bank account whie u are undischarged then it leaves you with barcalys and they doint; give a debit card only a cashcard to withdraw money if i am not mistaken and it is quite restrictive if u want to buy things online.

however i do not understand why we shoudl be paying for withdrawing your own money especailly if it is prepaid as u are not asking for a credit .

fiveyearplan

I have a cashplus master card and I don't think I get charged for withdrawing money. I do pay 4.95 monthly fee but I am happy to do that because I keep a smallish balance on the card to use for emergencies. When I had my other bank account I was paying 14.95 per months for things I didn't need on it plus I was paying untold amount of interest for all my credit cards. 4.95 is worth every penny to me because I can also use the card places that don't accept electron.

To each his own though!

homeschooler

I am just beginning to look into prepaid cards. I am thinking of just having it for emergencies (when I am unable to use the co op's visa electron) so it would be a pay as you go one rather than paying a monthly fee. I haven't made my mind up yet though as to which one to get. I want to be able to transfer money from the co op onto the prepaid card and not have to wait too long for it to credit it. I wouldn't be using it to withdraw money (unless absolute emergency!)

Thanks for the link will have a look and try and make my mind up. Also I noticed some of them are on quidco so if I purchase through them I will get at least a fiver cashback (I think its tuxedo on there).

I am also interested in euro currency prepaid cards that seem a good deal and it sounds as though you get a better rate. My sister lives abroad so we try and visit a couple of times a year. She has offered to pay for me and the kids to go out in September if we can get a cheap flight so I was thinking the euro card would be good as I would know exactly how much is on it rather than having to allow for whatever rate the bank charges.

Has anyone usedd these? Are they any good?

fiveyearplan

Rog2 uses a prepaid card in Euros. Not sure which one he uses but he's quite happy with it.

Zebedee69

Cash Plus all the way baby! Im happy with mine although waiting for cleared funds to appear can be a pain.....

fiveyearplan

How do you pay your funds onto your account? Mine shows up immediately when I pay it at the MoneyShop.

k2nga

I have just applied for the Virgin Prepay card. You pay £9.95 for the card there is no monthly fee and you pay 29.5p in every £10.00 you use or £2.95 for £100 which i thought was really good as i doubt i will use it that often. Also if you load it from your bank, post office or via your debit card you pay nothing. Its the best deal i had seen anyway.

Dez-Titute

Hi K2,

I have a Virgin prepaid looks like the real deal.I have a red one and also believe you can get them in pink.Topping up at the PO is free but you will get charged if you top up elsewhere and no monthly fee.


Cheers DEz.

fiveyearplan

The MoneyShop don't charge to load my cashplus card.