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If you are a bit wary of carrying all of your holiday spending money about with you in the form of cash, then you may find that a prepaid MasterCard could provide you with an alternative that you feel more comfortable about.
Prepaid cards are a relatively new type of facility.
They can give you the flexibility of using a plastic card for things like purchases and cash withdrawals while at the same time allowing you to stay in strict control of what you can spend.
How it works
To use a prepaid MasterCard you simply have to load some cash onto it at one of the numerous PayPoint outlets you can find in almost any town these days.
Cards are typically PIN protected too, so once the funds are loaded they're safe.
Some cards may be able to offer online bank account facilities as well, which can provide even more flexibility for managing your finances.
Worldwide cover
Prepaid debit cards typically carry the logo of the provider of the facility. So, for example, you may see the MasterCard sign on your card. This means that you can typically use the card where ever you see that sign displayed.
Since MasterCard is accepted in many countries worldwide, you could use your card when you go off on holiday. Being able to use ATMS overseas could give you a much safer option than carrying your holiday spending money around as cash and having to exchange currency etc.
If your card gets lost or stolen, then typically one quick phone call can block the card and protect your funds on it.
Getting a card
You can apply for a prepaid card online and it could be with you in under a couple of weeks. Since a card of this type does not involve any sort of credit, credit checks are typically not carried out.
This could be extremely useful if you have had credit problems in the past, which could still be popping up in credit checks and preventing you from being accepted for conventional card facilities.
Whether it's for a holiday or on a regular day-to-day basis, a prepaid MasterCard may help you manage your spending while at the same time providing a bit of flexibility and security.
About this Author
Gary Miller-Cheevers is the CEO of Speed-e-card.com, a UK based prepaid debit card provider. The Speed-e-card is like a normal credit or debit card, but with no late fee or interest charges. It is unique in that a speed-e-loans payday loan can be loaded onto the card, once it is activated. Customers also get a free e-bank account, so can use the card as they would a bank account, having their salary loaded on to it and managing bills online. So if you are looking for a prepaid debit card, please visit us.
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