Avoid controversial card fees with a prepaid card
01 April 2011 15:37:12
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| Prepaid cards enable users to avoid controversial credit card surcharges. |
Consumer watchdog Which? is concerned that some companies, including budget airline Ryanair and train booking site the Trainline, are charging excessive amounts of money whenever a customer chooses to make a transaction with a traditional credit or debit card.
Chief executive Peter Vicary-Smith claimed that people are "fed up" with the charges and revealed that more than 40,000 people are supporting the organisation's super-complaint to the OFT.
He explained: "Low-cost airlines are some of the worst offenders, but excessive card surcharges are becoming ever more widespread, with everyone from cinemas and cabs to hotels and even some local authorities getting in on the act."
However, Ryanair dismissed the accusations and pointed out that customers can avoid its administration fees by using a prepaid credit card instead of a traditional credit card.
As well as enabling users to avoid credit card surcharges, prepaid cards provide a useful budgeting tool, as the cardholder can only spend the amount they have loaded on to the card in advance.
They are also beneficial for overseas travellers, as many dedicated prepaid travel cards do not charge for overseas transactions or ATM use and offer attractive exchange rates.
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