Using a prepaid mastercard (often called a prepaid credit or debit card) is a great alternative to carrying cash or using a credit card because it’s safe and does not allow you to go into debt. Much like a pay as you go mobile phone, you can only spend what you have topped it up with. It’s also very secure due to chip and pin technology, has online account management and can be used anywhere you see the mastercard sign.
If you happen to be new to the country or have no means of ID, the prepaid debit card is great as you don’t require any ID to get one. The only thing needed is a UK postal address so it can be delivered. The other great advantage is that no credit check is done, no proof of address needed and no bank account required.
Purchasing a prepaid card will cost roughly 9.99, and you buy it from the website or do a postal application and pay via cheque or a postal order. Once the prepaid credit is delivered to you, you will activate it once and retrieve your PIN; this can be done through the website or by telephone. You can also choose either the pay monthly option or pay as you go option. The first is for frequent users and has lower fees. The second is for infrequent users with slightly higher fees.
It’s easy to load your prepaid debit with cash. Use any UK high street bank, any shop with a PayPoint logo or the Post Office. You can also load via your online bank account or telephone banking . Another useful feature is that you can have your wages and benefits paid straight onto the prepaid credit card. Use your prepaid debit card to spend anywhere across the globe where the mastercard symbol is displayed; this means over 30 million places and 1.5 million cash machines. Prepaid mastercards come with full online account access and text message control too.
On top of that, prepaid cards allow you to instantly transfer money to your friends and family, completely free of charge and anywhere in the world. To do so, just buy a additional companion card, send it your friend or family member and you can start sending them money whenever you want. This tool is useful for parents who have children at university, abroad, or just for everyday pocket money management.
To round off, prepaid cards are a good replacement for cash and cheques and even credits cards, as they’re safe and don’t run up debts. They come with useful features like chip and pin for security, internet banking and sms control. They can be used worldwide, you can send money to people you know (free of charge). Also, they’re an alternative for people who have bad credit or new to the country and can’t get bank accounts or credit cards.
Marckous Wukalanski is a consumer products researcher, specializing in bank cards and personal finance. He suggests downloading a free thirty six page guide called the ‘Essential Guide To Your Money‘. For more information, go to the prepaid credit card website.
Related posts:
- Ways to beat ID fraud with a prepaid card
- Do You Need A Prepaid Credit Card
- Why Using Prepaid Cards Are A Smarter Choice
- Airtel Online Recharge By Debit Card
- Credit Card Vs. Debit Card – Discovered!
- Mastercard Overview
- Debit Card Overdraft Fees Revealed
- Dangers of New Pre-Paid Debit Cards
- How To Get Fast Approval On A Credit Card
- Payday Loan Debit Card
Tags: bank accounts, Bankruptcy, Budgeting, business, credit score, Debt, finance, loans, personal finance, prepaid cards, prepaid credit cards, prepaid debit cards, prepaid mastercard, top up cards