Just 3% of Brits use prepaid cards when travelling abroad. Almost half (48%) leave themselves at increased risk of theft by opting to carry just local currency
Source: AA Financial Services (July 2013)
Prepaid credit cards are an excellent and secure way of storing money, especially if you can't get or don't want a bank account. They work the same way as a debit or credit card and can be used anywhere in the world where they accept Visa or MasterCard.
With a prepaid credit card there is no need for a credit check, so you won't be the subject to the same hassle as when you try to open some other accounts. This means you can be sure your prepaid card can be set up quickly and easily.
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Pre paid credit cards are secure and use a pin, so are much safer than carrying cash. This makes travel currency cards especially useful for holidays abroad, as they allow you to carry your money and not worry about the security of your room or safe. Should the worst happen and the prepaid card is stolen, the thief will only have access to what is on the card and not your bank account and savings.
These types of cards are also a great way of distributing money to your child. Pre paid credit cards for kids are a great solution for handing out pocket money and limit the risk of any money getting lost or stolen. You can simply top the card up with money whenever you need to.
This easy top up service is also ideal for students, enabling them to budget easily and avoid the temptation to fall into their overdraft and incur hefty bank charges and debt.
A free prepaid card is also a useful option if you're entering the UK from abroad and need somewhere for your salary or any money you have to be kept securely. As an immigrant coming to the UK it can often be a difficult process to open a bank account, so a prepaid card will offer you somewhere to deposit salary and keep money safe and secure.
Most prepaid credit cards consist of just a one-off set up fee with no further charges aside from a small ATM fee. It is also possible to get a prepaid credit card without the set up fee and then pay a monthly fee afterwards. Some of the cards will have both, depending on the benefits they offer.
There are a large number of prepaid credit cards to choose from, each with their own individual benefits and fees. All the prepaid cards we offer allow instant approval if you are over 18 and a UK resident.
The best UK prepaid credit cards will offer you great benefits such as cash back and discounts included with your card. Prepaid cards are among the fastest growing payment type at the moment, possibly thanks to the fact there is no application process and no overdraft to fall into and get you into debt. For the sensible spender and saver, they are an ideal choice.
Credit Cards Prepaid can offer much more freedom and ease than a bank account with no minimum deposit amount and no way of getting yourself into debt.