PrePaid Cards in Business

Discussion in 'General Business Forum' started by Parrot Hosting, Jul 8, 2011.

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  1. Parrot Hosting

    Parrot Hosting UKBF Enthusiast

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    Do you know what they are and do you use them, or accept them in your business online or offline?

    Its safe money isn't it?
     
    Posted: Jul 8, 2011 By: Parrot Hosting Member since: Jan 7, 2011
    #1
  2. Remote Resources

    Remote Resources UKBF Ace

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    If it's just an ordinary pre-paid credit card then they are perfectly safe money. Before your customer can spend on them, the need to load them with cold hard cash. There is no 'overdraft' facility so they can only spend what they have.

    All retailers that take Mastercard/Visa take these cards. In fact, I don't think they can tell the difference.

    People use them for various reasons (and generally pay a fee to do so). Budgeting, stopping overspending, as company cards so that staff can't go crazy etc etc. No different from a normal credit card.
     
    Last edited: Jul 8, 2011
    Posted: Jul 8, 2011 By: Remote Resources Member since: Oct 5, 2010
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  3. Parrot Hosting

    Parrot Hosting UKBF Enthusiast

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    I have 3 cards all PayPal Mastercards and am going to use them on the Continent while working. I have heard that some places do not take them in shops and ATM's and wondered if this was so, or just ignorance. I don't really want to get stranded with a unpopular card

    Do the retailers get charged differently for processing them? (they are just like debit cards - they don't work unless you have dosh).

    I know they can be loaded at PayPoint and other places and there are limits due to money laundering regulations (which can be overcome by simply faxing passport etc.,)

    PayPal now link their cards directly with the PayPal account so you can use it to the limit of your account (and then top up via your bank or CCcard)
     
    Posted: Jul 8, 2011 By: Parrot Hosting Member since: Jan 7, 2011
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  4. shadesofblue

    shadesofblue UKBF Ace

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    As long as they have mastercard or visa logo on it you'll be fine. Although I'd check they're ok for hotel and car hire as these companies tend to ring fence some money
     
    Posted: Jul 8, 2011 By: shadesofblue Member since: Jul 13, 2010
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  5. Parrot Hosting

    Parrot Hosting UKBF Enthusiast

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    Thats a good point.. :D
     
    Posted: Jul 8, 2011 By: Parrot Hosting Member since: Jan 7, 2011
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