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End of Pre-Paid Cards?
CALVIN001
Posts: 1 Newbie
in Credit cards
I use Mytravelcash pre-pay card as a back up should my debit card fail, out of the blue i received an e-mail from them stating from the beginning of October they will be closing down the service and all those with funds on the card make alternative arrangements, is this the beginning of the end of the pre-paid card?
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Comments
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Nothing apparently on their website (https://www.mytravelcash.com) - are you sure the email is genuine ?0
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I doubt it's the end of all pre-pay cards.0
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Use it where, UK or overseas? It's designed for foreign use, but not good value so probably unpopular and the company is being dissolved on October 4th according to this posting a few days ago:I use Mytravelcash pre-pay card as a back up should my debit card fail,
https://forums.moneysavingexpert.com/discussion/5504871
There are charges normally to get your money back from them, you can try to have them waived perhaps.
Certainly is not 'the end of prepaid cards' - Pockit (for UK) and Revolut are among the best options.Evolution, not revolution0 -
Kalixa also discontinued their pre-paid card earlier this year.0
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If you have the will power not to spend money you don't have, and to settle the outstanding balance every month, something like the Clarity Card would be a good replacement, for the pre-paid card.0
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As far as I'm concerned pre-paid cards have never really started, nevermind ending.
They've always been a niche product, difficult to track down, difficult to operate and full of stories of lost money and problems getting your money back etc.
I've never seen them bringing anything to me and I think many people are the same.0 -
They did mean you could lock in a good exchange rate.Please note that any posts that I make on here are based on my personal opinion, experience and what I have read.0
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Invaluable for managing expenses on productions where you need juniors to have a company card to be ablke to spend but don't want to hand out the keys to the castle0
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The_Cappuccino_Kid wrote: »They did mean you could lock in a good exchange rate.
Great for those with a crystal ball0
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