Jun 18 2008
As many as one in four people in the UK have some form of adverse credit history and find it difficult to obtain bank accounts or credit cards.* As this becomes a growing concern for many, payzone plc (www.payzonemoney.com) has just launched a new prepaid debit card, the ‘payzone worldwide money prepaid MasterCard®.’

With no credit checks needed, payzone offers many advantages over its competitors:

Ø No application fee; it is free - all you need to do is load money onto the card initially

Ø No monthly account fee

Ø Instant top-up facility

Ø No fee to use the card instore or online

Ø Only £1 fee for ATM withdrawals

Ø It is possible to load the card up to a maximum amount of £10,000.

The card works simply in two parts – a loading card that can be topped up at any time and the prepaid card that can be used to purchase items, withdraw cash, share money with family or friends abroad or simply as a gift card.

The payzone worldwide money card can be loaded with up to £350 in cash in any one transaction, with a loading cost of £3 (for £1 up to £100) or £6 (£101 to £350). With over 4,500 payzone agents across the UK** and 15,000 loading bays, it is accessible for everyone. The card is also available online from www.payzonemoney.com.

The card will help people take advantage of lower prices for goods and services online without fear of internet fraud or getting into debt. The card can be utilised as an aid to promoting steady and controlled expenditure, with no risk of running up debts, given there are no covert interest fees, and it is impossible to overspend a self-imposed allowance.

Sean O’Mara, managing director of Smart Transfer Ltd, explains: “Our new prepaid debit card means that those people who are unable to obtain bank accounts or credit cards can now have the benefit of shopping online, or take advantage of buying goods and products on the high street, whilst not having the worry that they may be spending outside of their financial remit.”

The card can be used at over 1 million MasterCard® ATMs worldwide and 24 million outlets displaying the MasterCard® logo. There is a card replacement service if cards are lost or stolen.

* Statistics from http://www.first4london.com/directory/Financial_Services/Loans/Poor_Credit

** By the end of May 2008