Prepaid cards - can they be anonymous??

Desperate4help

Hi guys - I'm still hoping that I'll be able to go BR soon, but have a few things I want to get in place before I formally contact the OR etc.

In the meantime I want to start squirrelling some money away but don't really want to keep it as cash in a box at home (!) - I was thinking of getting one of those prepaid credit cards and storing it on that. What do you think? Is it possible to get one of these cards in a different name or somehow staying anonymous? If I did it in my real name I'm guessing the OR would/could track it down?

Is there a better way to do this??? I guess the worrying thing of putting it on a card is if I lose the card I've lost the money?! Hmmm maybe a shoebox under the bed isn't such a bad idea!

Thanks
D4H

LeeSouthEast

You can get anonymous cards, but their "charge limit" is usually around £100. Generally you can't do what you plan due to money-laundering regs.

Desperate4help

Eeeek ok - thanks....I don't want to do anything that makes it look like I'm money laundering! It was just an idea but I shall write it off as a bad one!

D4H

sieve

You can't "squirrel money away" before you go BR - if you do so and don't declare it, you will get into serious trouble when you go BR.

After BR, and once you have agreed your SOA with your OR, you can put your surplus (assuming you don't get an IPA) onto a prepay card and the OR won't have any interest in it.

But if you try and hide funds before you go BR, you are asking for trouble.