With a prepaid account you can do just about everything a traditional bank account allows you to do, from everyday financial transactions such as paying bills and shopping for groceries, to paying for goods and services online without the worry of getting into debt. Prepaid products can be loaded or topped up in retail outlets or online and you can only spend what is on the card.
Your salary can also be paid into your prepaid account which you can then use just like a debit card to spend in shops, shop online, transfer money, use on holiday, check your balance and in many cases withdraw cash from ATMs.
You can choose from a range prepaid products to suit your needs and lifestyle. There are many providers of these products from banks to specialist financial services providers. Many products carry the American Express, MasterCard and Visa symbol giving you access to millions of shops, ATMs and online retailers worldwide while allowing you to budget what you spend and where.
Discover a new way to pay with prepaid.
General Prepaid Cards
An everyday payment account
General prepaid cards are an ideal solution for your everyday payment needs. They are generally ‘scheme-based’ which means that they carry one of the main payment scheme symbols like American Express, MasterCard and Visa.
These types of cards have many uses. Your salary can be paid into your prepaid account, or you can load funds into the account yourself which you can use in much the same way as a traditional bank account to pay bills, shop online and at millions of shops worldwide, transfer money to someone else and in many cases withdraw cash from ATMs
Prepaid Travel Money
A holiday spending money account on your terms – safe, convenient and flexible
Prepaid travel money cards are a safe, convenient and flexible way to pay on holiday. They remove the risk of carrying large amounts of foreign currency and are easier to use than traditional paper travellers cheques.
They allow you to put your holiday money on one card with all the flexibility of a credit or debit card. They help you keep to your holiday budget and allow you pay in millions of outlets worldwide and withdraw cash from most ATMs. If you lose your card simply call your card provider and your money is safe.
Prepaid travel money cards are generally issued with a main payment scheme brand, like American Express, MasterCard and Visa and can be used in retail outlets and at ATMs that accept them. Cards are available from banks, post offices and a range of specialist providers and many travel money products offer competitive foreign exchange rates.
Prepaid Money Transfer
Making it easy to transfer money to family and friends
Prepaid Money Transfer cards are an easy way to send money to family or friends overseas. They can be used to make regular or one-off payments. These types are cards are generally carry a payment scheme brand, such as American Express, MasterCard and Visa and can be used anywhere where they are accepted.
These types of cards can offer a faster, less expensive and more convenient alternative to traditional international wire transfers. With some products funds are available on the prepaid card immediately allowing the recipient to use the card to pay in shops, online and withdraw cash from most ATMs.
Prepaid Gift Cards
Prepaid Gift Cards – Giving the Gift of Choice
Prepaid gift cards have taken the gift market by storm over the past few years and the evolution from paper vouchers to plastic is almost complete. From single store gift cards to multi-store gift cards there is an abundance of choice to give the gift of shopping to friends and family.
Store-branded gift cards are usually restricted to use within a single store or chain of stores. They allow you to give the brand you know the recipient knows and loves.
Multi-store gift cards give you an even wider choice of stores to spend in and are great for giving the gift of choice to your family and friends. These types of products are generally regulated under European E-Money Regulations which means that your money is safe if the retailer goes into administration.
Some gift card products are ‘scheme’-branded which means that they are branded by one of the major payment schemes such as American Express, Visa or MasterCard. They can be used wherever the brand is accepted. Unlike most single and multi-store gift cards these types of cards normally charge a purchase fee.
Prepaid Budgeting Accounts
By design prepaid payment products encourage a sense of pre-planning and budgeting
There is a range of special budgeting accounts that specifically allow you to put money away to pay for specific events such as Christmas, bill payments, holidays and online shopping. These types of products may be offered as a single store, multi-store or ‘open’ payment scheme-branded products which means they can be used wherever the payment scheme, such as American Express, MasterCard or Visa, is accepted.
Examples include Budget Cards for budgeting your regular bill payments and Christmas Clubs to save for Christmas and shop using the club’s prepaid cards.
Prepaid transport cards are some of the most popular prepaid payment products used by people all over the world to pay for journeys on bus or rail networks or to use toll roads.
In some parts of the world transport cards have evolved in multi-use prepaid cards which means that they can be accepted more widely to cover all city transport companies and modes of travel, vending machines, access to buildings, at retail outlets and entertainment venues.
Examples of prepaid transport cards are London’s iconic Oyster Card, Singapore’s EZ Link Card and the Octopus Card in Hong Kong.
Prepaid Energy & Mobile
A great way to avoid large energy and mobile bills at the end of each month is to pay-as-you-go
There are many energy and mobile operators that allow you to pay for your electricity, gas, water and phone usage as you go which can even out payments for the budget conscious customer.
Up until recently energy prepayment was restricted to customers who found it difficult to pay bills on time but this has all changed. An increasing number of people are choosing prepay as their payment method of choice for their utilities and mobile phones.
There are a number of new suppliers specialising in prepay energy targeting the budget-conscious customer.