Uses For a MasterCard Prepaid Card

Your kids may be just at that age when they don't really want you around when they go shopping - but they still want you to pay though! Rather than risk giving them cash you could try a MasterCard prepaid card.

A MasterCard prepaid cash card may be a suitable solution if you want to give your kids the independence and freedom they need to make their own decisions and purchases, while still keeping an eye on and control of just how much they have to spend

Not just for kids

Prepaid cards, sometimes also known as cash cards, may be a flexible way of paying for purchases online, on the high street and withdrawing cash at ATMs.

They may be safer than carrying round large amounts of cash and have the additional security feature of being fully PIN protected.

Getting a prepaid card

You can typically apply for a MasterCard prepaid card online. Because a prepaid card is not a credit card, with most providers there is no need for a credit check so the whole process typically only takes a matter of minutes.

Your card and PIN will typically be sent out to you under separate cover in around 10 days of you applying.

Loading funds

Once you have your card you simply load some cash onto it and it's ready to use.

In its simplest form, a prepaid debit card can be loaded with cash at any of the numerous PayPoint outlets.

With some cards it may also be possible to transfer funds from a standard bank account and you may even be able to do this online.

Facilities such as SMS alerts for every purchase made may also be available but this may incur a small charge.

Ease of use

If your prepaid card carries the MasterCard brand logo then you can usually use it anywhere you see the MasterCard symbol displayed. Since MasterCard is an international brand, you may typically be able to use your card if you are abroad.

This could provide you with a safe and easy method for managing your holiday spending money.

Stay in control

The MasterCard prepaid card is not a credit card. You cannot run debt up on it. You can only spend what you have previously loaded onto the card. So if you are a bit of an impulse buyer, it may be a useful tool to help you resist temptation!