Watch out when applying for a prepaid card - A guide to prepaid cards fees and charges

03 September 2013 - Which Way To Pay

Email Article Print Article
    


Do prepaid cards really have high fees and charges? Facts you need to know about prepaid cards

Prepaid cards do exactly what they say they do right? You simply load cash on to the card, which can then be spent in shops, restaurants or online like a credit or debit card. Easy? Well yes, but what about the fees and charges associated with these plastic friends?

Prepaid Card set up fees

Providers usually charge a set up fee of around 10 when activating your prepaid card. Many providers give you a percentage of this activation fee back in your starting balance, however, not all providers do this.

Watch out: Find a prepaid card provider who will give you some of your activation fee back.

Prepaid card annual or monthly charges

Many providers provide a monthly or annual service charge to 'maintain' your account.

Watch out: Try and find a prepaid card provider who does not charge a fee OR has a low annual fee.

Prepaid card withdrawal fees

Most providers will charge a fee each time you withdraw cash from an ATM.

Watch out: This charge will either be a flat rate or as a percentage of total amount withdraw.

Inactivity charge

If you have not used your card in some time you could be charged an inactive charge.

Watch out: If you don't plan on using your card regularly then you should ensure you research this charge carefully.

There are some good prepaid card deals and offers in the market so it is important that you do your research carefully. When comparing the various providers you must check the fees associated so you get the best deal around.

icon_08.jpg
 

Related Links:
• Related Article 1

PRODUCT RANGES:

CURRENCY EXCHANGE
Compare Foreign Exchange and Currency >>

LOAN PRODUCTS
Compare Loan and Debt Products >>

CARD PRODUCTS
Compare Cards Products >>

MONEY PRODUCTS
Compare Money Products >>

INSURANCE PRODUCTS
Compare Insurance Products >>

Everyone in this day in Age has some kind of gadget. lets hope its insured. gadget Insurance
23 August 2018
Which Way To Pay
Making sure our loved Gadgets are covered by gadget Insurance is a must.
Read More >>
As we all know our health is one of the most important things in life . So we need to make sure we are fully covered with the correct Health Insurance.
30 August 2016
Which Way To Pay
Health Insurance is a very important thing that everybody should think about , this also means taking the correct cover for your personal requirements.
Read More >>
When it comes to being strapped for cash , and you need a quick cash flow . Owning your own car maybe the answer. Log Book Loans Are now very popular to help out in this situation.
08 August 2015
Which Way To Pay
Lending money can sometimes prove to be a difficult thing . Log Book loans have been introduced to help this .
Read More >>