Guide to Prepaid cards - 4/5
Which card is right for you?
It makes sense to look for a prepaid card with low sign-up, annual, monthly and top-up fees. However, there are other things to consider when deciding on the right card for you:
- What are the reload options - can you pop into a local bank, can you reload online, etc?
- Can you manage the card online - can you see transactions, etc?
- Is there a 24 hour service to load money on to the card when necessary?
- Is there a free additional card?
- What level of protection does the card provider offer?
As with a credit card, shopping around is the key to getting the best deal for you. At the moment the prepaid card market has relatively few providers compared to the credit card market but competition is beginning to intensify which will in turn drive down costs and increase service.
Making your Decision
In making your final decision, consider the following:
- How will I use it and where (retail, internet, ATM, overseas etc.)?
- How often will I use it (e.g. 5 transactions at shops per month, plus withdrawing cash at an ATM twice per month, plus loading it with £300 at the Post Office)?
- How much will it cost me to own per month on the basis of 1 and 2?
At moneysupermarket.com we provide a unique price comparison tool, which gives you the chance to compare prepaid cards, their fees (including withdrawal fees and monthly fees) and their additional benefits such as their reload options and whether you can manage your account online.
Good luck in your search for the perfect prepaid card for you.
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Prepaid card uses and benefits
Prepaid card fees and charges
Frequently Asked Questions