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Overspent
New Member
66 Posts |
 Posted - 17 June 2009 : 13:27:51
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Hi everyone, this is my first post on here following deciding to go ahead with bankruptcy. We are currently in an IVA that is about to fail due to losing my job twice within the first year of IVA[/font=Arial] 
We are looking at getting a pre paid credit and have no idea with to choose from the comparison website...so I thought I'd ask to see if any of you have a any suggestions of good or even bad options to go with.
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 17 June 2009 : 13:30:47
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Hi,
I have the Paypal prepaid card, costs £4.99 to set up and then maximum charge is £1 to top up at a Post Office.
I've had no problems with it.
The glimmer gets brighter all the time
Jan
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Overspent
New Member
66 Posts |
Posted - 17 June 2009 : 13:39:11
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Thank you Kallis, I do have a pay pal account thinking about it.
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 17 June 2009 : 15:05:00
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I think if you top up via a Paypal account it costs nothing.
The glimmer gets brighter all the time
Jan
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jacobsmith
Starting Member
United Kingdom
5 Posts |
Posted - 22 July 2009 : 11:53:07
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Hi Overspent,
I think you need to think what exactly you want to do with your prepaid card before you go ahead and get one.
I think the pay pal card is great for online payments and using if you are a pay pal user but there may be better products out there which may be helpful to you.
I'd look at the the Onebanking prepaid card (http://www.prepaid365.com/onebanking-prepaid-card.html) that comes with a basic bank account (no questions asked) as one option or look at the cashplus prepaid card which comes with a creditbuilder facility which allows you to build your credit history again.
Prepaid cards come with fees so I'd definitely do the research before choosing a product. See - http://www.prepaid365.com/compare-unbanked-prepaid-cards.html
Hope this helps.
Jacob (Not the one from "LOST" )
Fighting the good Fight! |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 22 July 2009 : 12:20:20
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I wouldn't recommend paying £12.50 a month for a prepaid card when you can get them a lot cheaper. The card that constantly has good reviews is the Cashplus card.
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/
24 IPA payments made, 12 to go - on the home straight! |
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Overspent
New Member
66 Posts |
Posted - 22 July 2009 : 19:10:48
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Hi Jacob (not the one from lost, which is a good thing seeing as you were killed last series lol) and Skippy......I've not done the prepaid card yet but will be shortly..now have got the bankruptcy stage one over and done with can concentrate. I must admit I do seem to leaning towards the Cashplus Card as it seems a great all rounder..plus I think you can get an additional card holder....watch this space lol
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jacobsmith
Starting Member
United Kingdom
5 Posts |
Posted - 23 July 2009 : 00:05:49
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Hi Skippy,
The prepaid cards that charge £12.50 or so a month come with a basic bank account so not really fair to compare with just prepaid cards. Cashplus can be around £4.95 or nothing based on the type of card chosen but then there are other cards which are free.
I think cashplus is good if you are looking for a card and also looking to build credit history using their creditbuilder facility but any of the previously mentioned products like onebanking, thinkbanking etc also give you a basic bank account facility so need to make sure we are comparing apples with apples.
So Overspent, choose wisely based on what your needs are going forwards. Cheers
Jacob (Not the one from "LOST" )
Fighting the good Fight! |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 23 July 2009 : 09:01:07
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I appreciate that, but you will never convince me that paying for a bank account that has no benefits is a good idea while there are still free bank accounts out there. As far as I'm concerned they are a last resort if you cannot get an account elsewhere.
I also understand that the £12.50 a month cards come with a bank account, but as this thread is about prepaid cards but for someone who already has a bank account and only wants a prepaid card they are a waste of money.
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/
24 IPA payments made, 12 to go - on the home straight! |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 23 July 2009 : 12:57:15
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I totally agree with Skippy.
I would never pay for a bank account whilst I could get one which is free. I have a prepaid card as well which I use for internet purchases.
However, if I were ever to consider changing to a paid account, I would recommend Secure Trust.
Yes, the account has a monthly payment, but it does do a prepaid card and Direct Debits as well.
The glimmer gets brighter all the time
Jan
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xmas baby
Average Member
537 Posts |
Posted - 23 July 2009 : 16:23:40
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Hi,
I sometimes buy a 'Prime' prepaid mastercard through IDT Finance. If I top up £40, it costs me £43, but I can use this for internet shopping. I already have a cashminder bank account, so the mastercard is purely for internet purchases, which I can't do with my normal debit card from the co-op.
xmas baby |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 23 July 2009 : 18:49:45
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I've found that my Cashminder Electron card is accepted on most websites, even those that don't say they accept it. The only time I had a problem was with M & S online.
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/
24 IPA payments made, 12 to go - on the home straight! |
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sjbyron
Average Member
United Kingdom
746 Posts |
Posted - 23 July 2009 : 19:48:02
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Another Benefit with having a bank account attached to a prepaid card is that you can move the money out of the card without costs attached, otherwise you would have to withdraw the money which costs.
Their is the Clearcash card again cost £9.99 a month but has bill services and a basic account behind it, it also has a host of benefits such as financial healthchecks, cashback, payment protection insurance to name a few, the are also run by a very ethical company - ClearDebt, who is run by David Mond (who posts regularly on iva.co.uk)
Best of Luck
Stu J Byron |
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jacobsmith
Starting Member
United Kingdom
5 Posts |
Posted - 23 July 2009 : 20:37:43
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Hi Skippy/Kallis,
I am not advocating that one get an account with one of these prepaid card companies and sign up to the £12.50 or so but rather that they do represent an option for those who may not be able to get an account elsewhere. I have heard good things about ClearCash and ClearDebt too.
Cheers
Jacob (Not the one from "LOST" )
Fighting the good Fight! |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 23 July 2009 : 21:40:53
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But the One account and Clearcash don't allow direct debits, so to me they are not full bank accounts.
If I really had to have one of these accounts I would choose the Secure Trust account as at least it's a proper account.
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/
24 IPA payments made, 12 to go - on the home straight! |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 23 July 2009 : 22:47:45
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My point as well Skippy!
The vast majority of my payments are made by DD, which I am more than happy with. The payments go out each month, if they are altered, I am kept informed by the company involved. I don't have to do anything.
I would never use a company which does not do DD.
My bank account is fine for that, and if I had to pay and my bank charged too much, Secure Trust would be the one I would choose. It is more a full bank account than any of the others.
The glimmer gets brighter all the time
Jan
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Prepaid credit cards
