Finding Prepaid Cards Online

May 1st, 2010 |

Like any financial product, there is no one size that fits everyone for prepaid cards. Looking for pre paid cards online is a matter of weighing up what providers have on offer, how much the services cost and what services you actually need.

The application process

Most pre paid card providers operate on the internet, applying for prepaid cards typically starts with a brief online application form. The information they are looking for usually includes the following:

* Your name;
* Your address. If you live the United Kingdom your address should be easily verifiable online;
* Your age. Some card providers have minimum ages for the people who carry their cards, but given that there is no money being lent, there minimum age is rarely 18. Accordingly, the cards are likely to become popular among teenagers; and
* Details of some documents that will help verify your identity. Providers will be able to check this online, but may ask for your passport or driving licence number so that this can be done quickly and efficiently.

Comparing the deals available

If you know what to look for when choosing prepaid cards online, then you have some idea of how to compare the deals available. The following issues could influence which care you choose:

* The application fees. Otherwise known as an initial fee or an administration fee, some prepaid card providers make a charge for opening a prepaid card account. In some circumstances this amount can be refunded, so check with the providers for details;
* How you can load the card. Some providers accept electronic transfers from your other accounts or from your employer. Some prepaid cards can also be topped up with cash at PayPoint terminals in some convenience stores. However, there is sometimes a charge for these activities, and those should be important factors in how you compare prepaid cards online;
* The cost of spending your money. It may sound odd to talk about the cost of spending your own money, but prepaid card providers often make charges when you withdraw funds from an ATM, make a purchase at a shop or restaurant or use the card to buy something online. Make sure that you understand how these charges work, and how much they are; and