Neteller Pre-Payment Mastercard - Is it too good to be true?

gilesdavies

Hi Guys

I currently only have a Maestro card, and recently found a few online stores, are not accepting this or if making a purchase from abroad... I don't have the greatest of credit ratings and reluctant to take out a credit card or move my bank account from Yorkshire Bank to another bank who can offer me a Visa Debit Card.

I have just taken out a Neteller Pre-Payment Mastercard and it all seems to good to be true! I found it by just simply Googling Pre-Payment cards

The website is not the greatest, but managed to find my way around order a card and got sent to me in a few days, along with my PIN.

I went to use the card online this evening and credited money using my maestro card and he cash was available to use immediately... They made no charge for the credit to the account and none on the two purchases I made!

I used the actual physical card they sent me in the post, but also found this brilliant feature, where you can use a virtual card which is a randomly generated online card number valid only for one transaction and the card can then no longer be used. So for example if someone found out that virtual card number, and tried using it after a purchase by yourself has been made, or after the time limit for that card number expires. That card is no longer valid!

All of this just seems to good to be true... They are not charging me for crediting the card or for making purchases!

The only charges I can find is if you require a replacement card if lost, or for making an ATM withdrawal. I am not intending to loose the card and will only be loading the card with enough cash for purchases, so don't intend on making withdrawals!

Have I missed something here in the small print?

If there aren't any catches which I have missed, I would highly recommend it!

pcombo

I wouldn't use the card, Ok it might offer free POS, But £3 to withdraw cash at an ATM pfft they can take a flying ........!

https://help.neteller.com/cgi-bin/neteller.cfg/php/enduser/std_adp.php?p_faqid=1306

Toe-Jam

If it is just for use as a backup where maestro isn't accepted you could use the o2 visa prepaid card, there are no fees at all (expect for forex) you just need to be an o2 customer of some sort.

lurkylurky

I have been using a Neteller card for a year now to book Ryanair flights at no extra cost. It's worked really well and I've saved loads.

I also use it to make the odd purchase but never withdraw cash at the ATM due to the £3 withdrawal fee.

dtsazza

pcombo wrote: »

I wouldn't use the card, Ok it might offer free POS, But £3 to withdraw cash at an ATM pfft they can take a flying ........!

https://help.neteller.com/cgi-bin/neteller.cfg/php/enduser/std_adp.php?p_faqid=1306

Erm... it's essentially a credit card. To my knowledge, all credit cards have terrible terrible charges if you ever withdraw cash from a cash machine.

(I just checked the couple I have now - Barclaycard Platinum charges £2.50 minimum, and then 50% extra interest on the withdrawn amount which starts accruing immediately, instead of from the next statement as purchases do. Amex is £3.00 minimum fee and the same interest terms.)

Just don't ever withdraw money on a credit card, regardless of a card. Comparing credit cards on their cash withdrawal fees is like comparing current accounts on their in-credit balances - I guess it's a nice bonus, but in the majority of cases it's not something you should be taking advantage of.

lfc84

The Neteller Net+ card is not a credit card, its a pre paid Mastercard.

I opened an account with Neteller on 13 June and got my Net+ card on the 24 June.