Prepaid Cards
Putting You in Control

Prepaid Cards - take control of your spending

Prepaid cards are a true innovation that meet a genuine financial need. A prepaid card is simply a means of carrying cash that allows you to behave as if you have a credit card - but without spending money you do not have! Here are some reasons why a prepaid card might suit you:

• If you have a problem getting credit - there are no credit checks required!
• If you are wary of paying on credit – there is no interest to pay if you only spend cash you already have!
• If you want to fight existing debt - i.e. you don't want to rack up more debt as you might with a credit card
• If you shop online – and don't want to part with credit card details
• If you are a students managing your money – no risk of overspending

So, what do you get? A personalised, embossed, Chip and PIN prepaid card that looks, feels and behaves the same way as a credit card, but without the need for a credit check and without the risk of you overspending.

There is usually a very small joining fee and then you either tend to pay a small monthly fee (with free transactions) or pay as you go (with a small % added to each transaction). Most cards offer free ways to top up your account. Total charges per month (assuming a typical usage of one £250 top-up and 3 transations per week) are in the range of £5 - £10. This is much less than the costs associated with running a credit card where you don't pay off the balance at the end of each month!

Will you qualify for a prepaid card? Generally speaking "yes" so long as you have a UK residence. Here are the best options that we have found in the prepaid card market:

Provider

Key Features & Points of Difference

	Bread	No fees on purchases and no monthly fee Load your card via Paypoint and BACS Employers are able to add your wages to the card directly The application fee for the card is only £7.50
	Optimum 360	No reload fees if you use the Post Office, BACS/bank trasnfer, your debit card or wage transfer. Paypoint can also be used. Instant approval for anyone with a valid UK address. Get an extra card for your family. A choice of "pay monthly" and "pay as you go" tariffs. Free online statements.
	Splash Plastic	Splash is like cash - only better No bank account needed Refer a friend and earn £5 Text alert system to keep you up to date with your card balance

More reasons for using a prepaid card:

• don't have a bank account and need a home for their money
• are newcomers to the UK, don't have a credit rating and need plastic
• are going abroad and prefer to carry cash on a card

• wish to share money with friends and family anywhere in the world
• with upto 4 additional cards and Maestro Acceptance, your loved ones can have access to your money and make purchases at over 9 million worldwide locations

• wish to shop online but don't have plastic
• are worried about online fraud
• feel that online shopping is subject to potential fraud

• indulge in the latest gaming online - and have their winnings paid back onto their card for free.
• limit their financial exposure by not using their credit card
• protect their identity online

• employee's who want their wages to be paid on a card and save cheque cashing fees
• employer's who want to pay their staff using a card instead of cash/cheque

• are 10 years or over and want their own card
• want to take control of their spending. Where, When & How – they decide!