Please help - Using prepaid cards as alternative to traditional bank account

PrepaidResearcher

Hi, I am doing some research into prepaid bank cards, and looking into designing a range of prepaid cards which come with different tariffs, similar to mobile phone tariffs, which allow users with different requirements to get different benefits and fees on their cards. Please take a few minutes to fill out these questions, which will be extremely useful in our market research, and hopefully resolve some of the problems users are unhappy about, with the existing range of prepaid cards available.

Thanks

Age:
Gender:
Country:

Do you use prepaid bank cards or currency exchange cards?
If no, would you consider using prepaid cards, and what is the reason for your answer?
If yes, which companies have you used prepaid cards from?
Have you used prepaid cards from more than one provider?
What made you choose the provider you currently use?
Are you satisfied with the service you receive from this provider?
What is your main reason for using prepaid cards? (e.g no bank account, to give money to childen, currency exchange, savings etc)
Do you use Pay Monthly cards or Pay As You Go?
Are you satisfied with the charges/fees on your prepaid card?
What additional benefits do you receive from your current provider?
Are you happy with the speed of transfer and ease of topping up your prepaid card?
What, if any, are your security concerns about using a prepaid card?
Do you have a bank account with a high street branch too?
Do you have children?
Would you use a prepaid bank card to give your child money to spend, as an alternative to cash?
Why?
Do you exchange currency, or make international transfers from your bank account?
Would you use a prepaid card to take money abroad or to send money to someone else abroad?
Why?
Would you be interested in using an e-wallet, or contactless payment system, instead of a traditional chip and pin card?

jonesMUFCforever

Sorry but this has to be a non starter.
You have to pay for a pre paid card and many charge for top ups and some for withdrawals.
You cannot set up a direct debit, standing order or a faster payment using one of these cards.

A Basic account will let you do all of the above for free as long as you abide by the rules ie only spend cleared funds that you have.

dalesrider

jonesMUFCforever wrote: »

A Basic account will let you do all of the above for free as long as you abide by the rules ie only spend cleared funds that you have.

But not all provide a debit card. Some only provide a cashcard.

As I have a o2 prepay card.
Topping up is as easy as entering a PIN into my phone and selecting my debit card and amount and it will then top up. Or going to a o2 shop or using epay.
Prime reason for getting this was the contactless facility and use on internet.
Have now learned that these cards also fall foul of the updated EU anti-money laundering law. In effect you top up with cash to spend cash.
So my 10K limit is now restricted to 2K at which point they will contact me and want to know the source of the funds. If not provided with a good answer, they will close the account.
Thankfully this will not affect me as I only put a limited amount on it each month to cover certain spending.

As to the Op.

Well if they want that kind of information. Then they need to employ a consumer research company. Not post on a internet forum. Hoping to get it for free.

TBH. I would guess this has already been done many times for plenty of the companies providing these cards now.

Anthorn

jonesMUFCforever wrote: »

Sorry but this has to be a non starter.
(cut)
You cannot set up a direct debit, standing order or a faster payment using one of these cards.

Oh yes you can. Cashplus for example.

But it's a non-starter for a different reason: The mere mention of fees conjures up the name, "Kalixa": Use any branch of Barclays Bank to pay in and don't use ATMs and it's free of fees for POS in UK and abroad and foreign exchange is also attractive! Even card renewals at expiry are free for active users. Just £6.95p for the card and that's it for life.

The other reason that it's a non-starter is that the pre-paid market is already saturated.