Money Talk Daily

Posts Tagged ‘prepaid365’

Prepaid cards are fast becoming the preferred payment option for a number of online and offline transactions and the rapid growth and usage of these cards in various sectors such as Money Transfer, Travel Money, Payroll, Online Shopping, Gaming, Youth and Business is already well documented.

In most cases, these cards tend to be branded with MasterCard or Visa scheme badges whilst Maestro seems to be extremely popular in the UK and the question most consumers ask is whether it really matters and why does it matter whether their card is a Maestro, Visa or MasterCard card.

Well the simple answer is, yes it does depending on your usage of these cards.

Attractiveness to Fraudsters and Risk
If it is for travel, them maybe global acceptance is very important for you. Furthermore, the chances of a prepaid MasterCard being accepted on gambling, gaming and adult sites is far higher than a Maestro branded card. Unfortunately, the flip side is that a MasterCard is probably more attractive to fraudsters than a Maestro card, even though prepaid cards operate in a safe and secure environment. So if you are risk averse and your main usage is for online shopping and or high street usage in the UK, maybe a Maestro card is the right one for you.

Acceptance Globally
Before making a final purchase decision, you should review the cards global acceptance as there are big differences in card acceptance across the globe, so you need to take great care and ensure the card is right for your needs. If we look at some quick stats on worldwide acceptance, we see

• MasterCard: Over 28 million worldwide acceptance locations
• Visa: Over 12 million worldwide acceptance locations
• Maestro: Over 9 million worldwide acceptance locations

Fully branded Visa or MasterCard travel cards are accepted at millions more merchants around the world. Whilst Maestro and Electron acceptance rates are increasing, there are still many destinations where you would experience difficulties using the card to purchase goods.

Maestro acceptance is continuously improving, and card acceptance is currently around 9 million locations worldwide and at 960,000 locations and internet sites in the UK. Over a 100 countries around the world accept Maestro. But, many do not, so be sure to check acceptance before purchasing a prepaid Maestro card for your holiday money or international money transfer. Maestro prepaid cards can usually be used at International ATMs, wherever you see the Maestro or Cirrus payment mark.

MasterCard is currently accepted worldwide at merchant outlets and ATM machines displaying the MasterCard (or Maestro/Cirrus) sign. You can use your prepaid MasterCard at more than 28 million locations worldwide.

A Visa prepaid card works like a Visa credit or debit card, with the exception that each transaction must be electronically authorised. Your Visa pre paid card is accepted in over 160 countries, at over 12 million electronic merchant locations worldwide. 1 million ATM machines displaying the Visa or PLUS payment mark accept Visa Electron.

Currently, MasterCard offer the best worldwide acceptance and are widely mooted as the most popular scheme badge and hence represent a popular option for prepaid card programme managers looking to deliver programme success. They are also popular with consumers looking for enhanced global acceptance albeit, with a slightly higher element of risk.

Find the right prepaid card for your business and you
Visit Prepaid365 to find out more about Maestro, Visa and MasterCard prepaid cards to find the best prepaid card to suit your needs.

Prepaid travel money cards are quickly becoming the preferred option amongst travellers making transactions abroad. Using foreign currency and traveller cheques is fast becoming outdated with prepaid cards becoming a more popular payment option whilst travellng. Prepaid cards allow you to load your card with any desired amount of money that falls under the minimum and maximum loading limit from financial institutions that offer this service. You can use it as a credit card to pay for the purchases made or also use it as a debit card to acquire money from ATM’s.

Prepaid Travel cards – what do you need to get one?

The economic slump and lower usage on credit cards means that prepaid cards are starting to take centre stage. You no longer need to carry money with you when you are on a trip. The safety of your prepaid card is greatly enhanced if it is a Chip and PIN card with a 4 digit PIN allocated. As this is an international option, you can inform customer services about the loss of your card with the PIN number identifying your card to them. Customer services are likely to block your existing lost card and issue you with a new one as soon as possible. These prepaid travel cards are independent of your bank account. You will not be able to avail any credit or overdraft facilities with prepaid travel money cards and this will help you keep your spending under check. You can easily retrieve information on your recent transactions and know your balance. This will keep you informed about the money left in your card and therefore, you will be able to manage your spending more wisely. You can use your credit or debit card online to reload your prepaid travel card anytime and from anywhere around the globe. Obtaining a prepaid travel card is extremely easy. You just need to submit your ID documents to validate your identity and address details and upon approval, your prepaid travel money card will be in the post. Your card will be readily available for transactions.

Global Prepaid Acceptance

The extent of worldwide acceptance of your prepaid product will depend on your scheme provider. Visa and MasterCard prepaid travel cards enjoy better acceptance across the world with MasterCard being the most widely accepted option at over 28 million merchant locations worldwide, in comparison with electron and maestro prepaid travel cards.

Card Currency and FX Rates – why do they matter?

Your card currency is a key factor in determining what you save on your trip. Prepaid travel money cards also allow you to take advantage of exchange rates. You can have your currency as Euro or Dollar as these are two most popular options available for travellers travelling abroad outside the UK. Euro or dollar prepaid cards can be used at POS or ATM’s in exactly the same way as standard prepaid card. To get a Euro or dollar prepaid product, you should buy currency online from the service provider and the amount bought will be loaded into your card and sent to you. You may have to pay a fee for withdrawing cash from ATM’s and a fee may be incurred from currency exchange bureau’s and banks worldwide, with Euro or dollar prepaid product. The most important factor is choosing euro cards when traveling around Europe or dollar cards for other territories where USD is the accepted currency.

Find the right Pre paid Travel Money Card

Prepaid365 is a web portal that provides detailed information regarding prepaid cards in the UK. It provides a comparison of the top prepaid travel money cards in the UK along with reviews and ratings allowing you to select the perfect travel companion this summer. Find the right travel money card at Prepaid365 because prepaid cards are here to deliver savings permanently even if the credit crunch may be temporary.

Compare Prepaid Travel Money Cards at Prepaid365