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Key Uses
What do you need a card for? Have a look below to see what we think the key uses of a prepay card are and why you may want one.
Everyday use cards
Prepay cards can be used just like your Maestro, MasterCard or Visa card. You simply just need to load them up and spend as you would with any other bit of plastic in your wallet. However, some cards are more suitable for everyday use than others. For everyday, check out the Cashplus Gold card,
Tuxedo or the Virgin prepay card.
Budgeting
If you've struggled to control your spending on a credit card, then prepaid cards give you the flexibility to use a card as you wish, but ensure your spending can't go out of control. You can budget effectively, see exactly what you have spent, and check how much of your balance you have left. Use the Quick Card Calculator and see any of the multipurpose monthly cards if you want to use it everyday or the pay as you go cards if you only want to use one occasionally.
Secure shopping
All the benefits you get when purchasing anything with a card; shop without the fear of giving out your bank account details and your account wiped clean. Have a pot of money to do with what you want. So if you do your weekly supermarket shop online, simply use your card. Also, if you are using an online store for the first time and may be nervous about them, use your card and feel a little bit more protected. Particularly, if you have a card with purchase protection.
Holiday MoneyNo need to carry lots of cash and/or travellers cheques abroad anymore. You can now take your holiday money in the form of a Chip and PIN protected card. If you lose it, your money is still safe, and, if you choose wisely, you should get a better exchange rate than you would on cash. Check out Caxton FX.
Travelling long term
Are you, or a family member, taking a year out and travelling the world? A prepay card could give you that extra peace of mind. As we all know, sometimes the unexpected happens and that often drives a need for cash, quickly. If you have a prepaid card, in an emergency, a quick call back home to parents or friends can get money transferred into your account, it just takes as long as the top-up takes! See the various travel cards (Caxton, ICE) or one of the multipurpose ones (Virgin, Cashplus).
Alternative to money transfer
If you send money abroad using one of the famous money transfer companies you’ll know that you have to pay a fee every time you do it. Plus the recipient has to go to a certain place to get access to the money. Plus it’s in cash, which is not as safe as on plastic. Prepay cards can be a great alternative as your friend or family member can get cash out of an ATM or bank, or even simply use their card in a shop as per normal. Check out the Money Transfer page for more details.
Stop cheque cashing
Many people are still being paid by cheque, or pay people using cheques, due to not having a bank account. Maybe it’s becausef you are a seasonal worker, a new worker to the UK or simply operate in an industry that is cash-heavy. Every time you cash a cheque you could be paying a fee that could be substantially more than the cost of a prepay card. Check out the cost of usage of a card and see what you could save. You can even have your wages paid directly into your prepay account.
Credit building
If you have a problem getting credit, as you have no credit history, or a bad credit history, some of the cards now offer a credit building facility. All you need to do is ensure you have £4.95 in your account every month to make a ‘loan payment’. It’s simple, but only if you are disciplined. See the Cashplus Gold card for more details.
For Student AllowanceBeing a student means careful spending. Prepaid allows you to control your spending as you can only spend what's on the card, just like your pay as you go mobile. In emergencies a quick call home means parents can transfer money to the card when you really need it. See any of the pay as you go cards for occasional use using our card chooser.
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