Moneyfacts.co.uk Best Buys show the best products chosen by our independent experts. Where we have been able to we have also provided a link for you to apply online today. Products shown with a yellow background are sponsored products.
Our prepaid cards chart is ordered by the lowest UK transaction fee, lowest monthly fee, then lowest application fee.
Prepaid cards are not a form of credit – you can only spend money that you’ve previously put onto the card. They work in a very similar way to pay-as-you-go mobile phones – once you’ve used up the money on the card you can’t spend on it again until you “top-up”.
There are Visa or MasterCard options to choose from, both of which are widely accepted.
Prepaid cards are ideal for:
• People who have had debt problems (including those who have an IVA or who have been made bankrupt)
• Young people
• People who are unable to get a UK bank account
Some providers even offer a “Credit Builder” option which can help improve or re-build your credit score.
Most cards will allow your wages to be paid to the prepaid card directly, as well as offering a number of other ways to top-up, these include:
• Bank account transfer
• Debit or credit card payment
• Standing order
• Post Office
• SMS text
Make sure the method you would like to top-up by is one of those accepted by the prepaid card provider, before applying.
One downside to prepaid cards is that they can charge a lot in the way of different fees. Look for cards with low monthly fees as well as prepaid cards that don’t charge transaction fees. Most will charge you for using an ATM, so if you prefer to withdraw cash than use your card for purchases, be sure to select a card with a lower fee.
Learn how prepaid cards can be a convenient way to control spending
Read about the advantages and disadvantages of prepaid cards
Prepaid Everyday CardsPreload your card with money that you already have so you only spend what you have.
Prepaid Travel Money CardsPreload them with foreign currency before you travel so you know how much you have to spend abroad.
Business Prepaid CardsNeed a payment option for staff, but don’t want a credit card?
Working out how long it will take to pay off your credit card balance can require some serious maths... More
Do you have a credit card, or are you thinking of getting one? If so, it could be a great time to go... More
Credit can often be a valuable way to help manage your money, but sometimes, it can be the route to ... More
Are you thinking about switching your credit card? Well, you’re in good company. Research has found ... More
Does the thought of opening your credit card bills fill you with fear? You’re not alone! Many people... More
Getting a long 0% balance transfer credit card can reduce your debt quickly and cheaply. But there a... More
Find out who provides your credit card. Most branded cards are issued by another provider – this cou... More
They’re so easy aren’t they: credit cards? It lands on your doormat, 85.60 x 53.98mm of pure spendin... More
Virgin Money has unveiled a new range of credit cards, one of which is offering 36 months of 0% inte... More
MBNA has unveiled a new card offering an extended period of 0% interest on balance and money transfe... More
HSBC has extended the 0% balance transfer period on its BT credit card to 34 months, a joint market-... More
NatWest has unleashed a competitive new cashback credit card on the market, securing it a place on t... More
Lloyds Bank has stepped up its game in the 0% interest credit card market by introducing a new 19-mo... More
Stay in the know with all the latest information, of-the-moment consumer trends, best-in-class products & providers and helpful tools from Moneyfacts.
Moneyfacts.co.uk will, like most other websites, place cookies onto your computer’s
hard drive. This includes tracking cookies.