⌛ Mastercard!

Hi All, Has anyone Heard of a Pre-Paid Credit card based on MASTERCARD?

Jack P.

 

Ya, it is called a "master debit card" just like a "visa debit card".

Jim

 

yup, 99% correct, there is indeed a prepaid mastercard from several organisations, works like a debit card of course.

prepaid mastercards are quite common here in the PI and often used as a kind of support card. works like a normal credit card, but can be only used for payments when loaded. Often used by foreigners to support their money-koh, ooops of course honey-koh, when out of country is the western-union pre-paid mastercard.

the WU-mastercard has no monthly fees.

 

Jack, my BDO ATM card is also a debit card,but I didn't opt for their credit card.

 

Useful!

Thanks for the replies, I wrote to a Chap who had owed a little to me and he sent it via Pay-Pal to my account using an IDT Mastercard. As I know a little about his finances I rang and asked him how on earth he got a C/C. he told me it was a Pre Paid thing. Hence My Question here. I contacted this Company and they sent me a WEB page on the product. Seems it is used a lot in US and Western Europe for people to send Money Home or the PI I guess. It tells me that for a £5 you buy a card with amounts of £50 to £150. Paid up front. You send the Card to your G/F or Wife in the PI and she draws Pesos at the ATM or Shops to the Value of the card. For £3 you can top this up on line to a Maximum of £150 per day. So I guess it is a cheap way Sending money home as it is all done on Line. I had never heard or seen this before but it would seem the answer to previous Threads of Transferring money about. Is this the sort of card you are all telling me About? It would also appear that they are going to roll it out in SEA some time in the next year.


Jack P.

 

Jack, I have a Mastercard from Citibank which is also a debit card so I can go to any ATM in PI and draw out pesos or I can use it at Robertsons for purchases, no credit card payments just cash withdrawal from the account. In my particular FMA account, there are no ATM fees. Not specifically a prepaid but works the same.

 

Hi, I use a travelex cash passport debit visa, to top up cost 1% every $100, and $3.75 every time u withdraw either at ATM or over counter. The card last 3 years and no monthly fees and no cost to buy the card, you get 2 cards. the advantage is that it is not linked to your bank accounts so if scimmed/lost or stolen you dont have the trouble of closing all your accounts.

 

I recently purchased a $25 pre-paid visa card, not so if they sell pre-paid Master cards, but I'll have a look next time I'm in the store over here in So.Cal..

 

Yep, just saw one in one of the Grocery stores here where I live. it was a $25 pre-paid master card with an additional $3.95 activation fee on top of that. .. They're great whenever You want to be Annonymous and discreet. I prefer to use a pre-paid Visa card Myself though..

 

OK! Cool!

Thank You John for this information, seems sometimes I get out of touch with things.

Thank You all for you inputs, Now I know this card exists I will sleep well.:D


Jack P.