What are the benefits of using a pre-paid card?

What is a pre-paid credit card?

It’s like a gift card. You top up with your own money and use it like a debit card. There is no credit, or loan from a bank to apply for. You can’t get into debt, since it’s all your own money.

A pre-paid card can be used worldwide, anywhere that takes Mastercard, as it has a 16-digit code.

Why use one?

They’re instant. You don’t need pre-approval, credit check or bank account. Most will be accepted for foreign car hire and hotels.

Are they free?

No. They charge fees to upload money to them. You also can be charged when you make a cash withdrawal from an ATM or a fee when you buy something in foreign currency. Government Stamp Duty is €5pa. If you don’t use it often enough you’ll be charged an ‘inactive balance’ fee.

How much?

Swirl: 99c – €3.99 to top up. €1.50 cash withdrawal fee.

VPlus: €3 – €8 to top up only using One4All vouchers. 2pc foreign exchange fee and ATM cash withdrawal fees. PerfectCard: 2.75pc top-up fee, 2.75pc foreign exchange fee and €2 cash withdrawal fee.

3 Mobile: €1 – €3.50 to top up, €3 monthly fee, €2 cash withdrawal fee, free to use in store or online.

See ccpc.ie for more information.