Prepaid cards. Should I use them.

CliveOfIndia

GREYONE said:

As someone moving into retirement I want to minimise my exposure to increased risk.

Well if you take it to the extreme, just take enough cash with you when you go out to buy what you need.  Do remember, you're pretty well protected against any fraudulent use of your credit or debit card, unless it can be proved that you "wilfully" (as it were) authorised the fraud.

No method of payment is 100% fool-proof - even if you pay everything by cash, what happens if someone mugs you in the street, or you drop your wallet?

I do get where you're coming from - but it's a balance between being sensible in avoiding fraud, and convenience.

Pre-payment cards do have their place - but is it worth the fees that most of them charge, when for most ordinary people you're pretty much covered anyway?

sausage_time

If you don't have a Chase current account why not open that, top up as little as you want, and enjoy 1% cashback on most of your spend.  And app notifications of all spend you you'd quickly spot any fraud.  Chase cards have no numbers on them which gives a degree of protection.

Don't worry too much about fraud on credit or debit cards.  So long as you look after your card, do not disclose your PIN, check your balance/statement, etc you are protected.

See for example:

https://www.chase.co.uk/gb/en/fraud-and-security/