Using your prepaid MasterCard may be a simple and effective way to manage your money. Follow these tips to get the best out of your prepaid card.
• Get your wages paid straight into the card
Did you know that it is often possible to have your wages paid onto the card? That way there is no need to “top up” the prepaid MasterCard – the system does it automatically and your money is available to spend at any time.
• Sign up for SMS messaging
With some prepay card providers, you can arrange for every single transaction to be texted to your phone. Not only is this useful for keeping track of your balance, but it also serves as a defence against theft. If a thief or fraudster has got hold of your details, they will not be able to get very far if you have tracked their every move.
• Use your prepaid card to withdraw cash
Not only can you use prepaid cards to pay for things online and in shops, but the card is also a cash card, enabling you to withdraw your funds at a convenient time to suit you, at a cash point. So you really have the best of both worlds – a MasterCard that is also a cash card.
• Your card as a money management tool
With your prepaid card, you will never feel the temptation to over spend, as the system will not allow it. So why not use the card to pay bills? Using a prepaid card can be a helpful budgeting tool, because once you have loaded your budgeted amounts onto the card, you know exactly how much you have available.
• No need to worry about late fees
Given that you prefund every penny that you spend on the card, there are no payments to miss, and no late interest charges. The transparency of the card appeals to its users: there are no nasty surprises at the end of the month.
• Use the card internationally
Some prepaid MasterCards can be used internationally, so do check with your provider before you travel abroad. Check also what the rates of exchange and charges are for using foreign currencies so that you know how much foreign money you can purchase.
