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Prepaid debit cards compared
Your guide to all Prepaid Cards
Prepaid Cards are suitable for those with any type of credit rating and are useful in times when you need a debit card when you don't have a bank account.
The future is bright: the future is prepaid debit cards
Prepaid cards could be a bigger part of the future than first part, with many manufacturers of prepaid cards expecting a large surge in the amount of applications for the cards before the start of 2010.
This comes as Ryanair reveals that those who proceed to purchase tickets online using a prepaid MasterCard will be exempt from the £5 transaction fees that are applicable to those who are paying through all other methods. Even though Visa Electron debit cards used to be included in this loophole, it is understood that this will no longer be the case in the near future. Now – customers from around the country who are frequent flyers from the airliner are having a look around in order to find the best prepaid card deals that are out and about.
Additionally, there is hope that the prepaid card will be looking to fill the void that remains from Visa Electron debit cards, which are being phased out progressively. Santander is to stop issuing Visa Electron cards to their customers from next year.
The humble prepaid card has been enjoying good press recently because of the way that those of all ages can benefit from the 'use what you have' mechanism that it works from. Only money which is placed onto the plastic can be used through the usual channels of online shopping, cash withdrawals and in-store transactions.
With the current recession meaning that more and more people are becoming overdrawn on the credit cards that they do have, financial experts have been praising the way that prepaid credit cards have been allowing those who are financially vulnerable to have some self control. With the average debt of a UK consumer being well over £4,000, many people are proceeding to spend money which they simply do not have – then paying for the consequences later with spiralling interest rates and perpetual debt.
Bob Atkinson is a travel expert. He had this advice for those who were trying to save money when booking tickets with Ryanair online: "While this might be annoying for passengers who have taken out a Visa Electron card simply to avoid paying these fees, this will be useful in the long term."
Saving money has never been more important in the current economic climate, and so taking the initiative to take heed of what is going on with your transactions could be a wise thing to do.