PREPAID Card from Prepaid Financial Services (PFS)

JeksenDom

Hey All,

I came her, although I am not from UK, because this is one of most active financial related UK forums I am aware of and hopefully someone can answer my question please.

Asking our local bank of card issuer directly doesn't really help. Needed is answer from someone who has done something like that in the past.

Our local bank is selling prepaid card Mastercard from the following UK card isuer: Prepaid Financial Services (PFS London). Issuer is on website prepaidfinancialservices DOT com.

My question: Deposit is created, with said card, to online account with online balance for some legal/legitimate business, e.g. trading with financial assets, betting, etc so legal activity. This deposited money is used for trading/betting/playing/working/etc. If money is lost, balance obviously decreases. If money is earned balance obviously increases. In some particular moment, I would like to transfer (withdraw) the money back to the said card from where I did my deposit. Just wondering, if money will successfully arrive to that card (prepaid financial services - pfs london Mastercard) after withdrawal is processed?

Tried to ask website representatives directly but got answer they don't know card characteristics.

Therefore would like to know if anyone has used this card for withdrawal purpose and if money (earnings/winnings) were successfully withdrawn and whether or not they successfully arrived to the card?

I am being a bit worried because the card can generally be funded only via bank transfer using reference message for card identification purpose because all card owners inside the country send bank transfer to same identical bank account number. Which card is funded depends on reference message.

Would really like to know if someone has already tried to withdraw earnings/winnings to the said card? Did money arrive successfully? Obviously there is no way that you could use reference message on withdrawal request webpage.

Your feedback would be appreciated, thanks!

JeksenDom

Thanks for so many replies, I received a lot of useful information.

SnowTiger

JeksenDom wrote: »

Thanks for so many replies, I received a lot of useful information.

LOL.

I guess most people here didn't answer your question because they don't know the answer.

That's why I didn't post a response. Until yesterday I hadn't heard of Prepaid Financial Services and don't know about the services they offer.

Your main concern appears to be that you funded your pre-paid card by sending money to a 'shared' bank account, giving a unique reference number to identify your card.

That's not uncommon for pre-paid cards.

Monzo, Revolut and Pockit, for example, operate in that way.

Even PayPal and Western Union operate a similar system.

The_Urbanite

Yes, the money will go back onto the prepaid card as it'd be processed as a refund, same as with a debit or credit card. However, don't expect the account to remain open for long if you only plan on undertaking financial and "quasi-cash" transactions with it.

[Deleted User]

JeksenDom wrote: »

Thanks for so many replies, I received a lot of useful information.

Sorry for not replying earlier, but happy to share my knowledge on the subject.

I've no idea.

JeksenDom

The_Urbanite wrote: »

Yes, the money will go back onto the prepaid card as it'd be processed as a refund, same as with a debit or credit card. However, don't expect the account to remain open for long if you only plan on undertaking financial and "quasi-cash" transactions with it.

The problem is that usually withdrawal from won/earned money on Balance is NOT processed as a refund. If you used this exact prepaid Mastercard from same identical issuer, did you successfully withdrawn? If I may ask you, from what kind of online activity did you withdraw? You don't need to share website name if you don't want but at least activity is what i want to know...

Which account shouldn't i expect to remain opened for a while? Prepaid card or online account with Balance where I am earning or winning money and from where I am withdrawing back to the same card as deposit was done?

boo_star

JeksenDom wrote: »

The problem is that usually withdrawal from won/earned money on Balance is NOT processed as a refund. If you used this exact prepaid Mastercard from same identical issuer, did you successfully withdrawn? If I may ask you, from what kind of online activity did you withdraw? You don't need to share website name if you don't want but at least activity is what i want to know...

Which account shouldn't i expect to remain opened for a while? Prepaid card or online account with Balance where I am earning or winning money and from where I am withdrawing back to the same card as deposit was done?

It's been a few years but when I did matched betting, I don't think it was ever NOT processed as a refund.

Even if it was, it still found its way back into my account.

JeksenDom

boo_star wrote: »

It's been a few years but when I did matched betting, I don't think it was ever NOT processed as a refund.

Even if it was, it still found its way back into my account.

Did you use exact same PREPAID Mastercard Prepaid Financial Services (PFS London)??? :eek: Multiple their representatives said it won't work - cash won't be withdrawn successfully.