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Choosing a Prepaid Card

Prepaid cards are relatively new to the marketplace and have been slow to gather momentum. However, now that the benefits of prepaid cards are becoming more widely appreciated, competition is likely to intensify – which is good news for the consumers.

At present, however, there are only several prepaid card providers, which means charges are yet to drop to more favourable levels. However, it still pays to shop around. More...

Things to consider when choosing a prepaid card:

  • Fees for opening an account
  • Charges for cash withdrawals and transactions.
  • Fees for depositing money onto the card.
  • Charge for replacing lost or stolen cards.
  • Card delivery costs.

Finally, as security is always of utmost importance, ask your lender for details on fraud protection.