Prepay 'credit' cards ('prepayment' cards) (2026 Update)

I have seen a number of posts on 'prepayment' cards recently. These are=20 sometimes referred to as prepaid 'credit' cards. Although personally I=20 don't like that term since there is no credit involved. (If there is a=20 better/official name for these types of cards I would be interested to=20 here what it was.)

Whilst I have no need for one of these cards myself I like to keep up to=20 date on what options are available as I have a number of friends from=20 overseas who sometimes ask my advice on financial options in the UK. These= =20 types of cards might be useful if they are only able to get a solo or=20 electron cards at UK banks due to lack of UK credit history.

Anyway I realised that it is pretty hard to directly compare each card=20 since they have a wide range of different costs and charges and none of=20 the supplier websites are particularly easy to navigate. As a service to=20 others (since it is a slow day at work for me) I have compiled all main=20 costs below.

Although I have tried to be careful I'm only human so there is a=20 possibility of mistakes. Also the terms and the conditions may have=20 changed by the time you read this, so I would recommend you double check=20 everything if you are planning on getting one of these cards. I have=20 provided links to each of the cards terms and conditions, which is where I= =20 obtained all the figures myself.

Anyway here is a summary of each card that I am aware of. (If you know of= =20 other prepayment cards not covered here please feel free to follow up,=20 even if only with the name of the card and a link to their website.):

Primarily aimed at people travelling despite the fact that it is unsuited= =20 for this due to rip off exchange rates (see Charges 2 and 8). It might=20 actually be better for people who can't get credit to use within the UK,=20 although the lower acceptance of AMEX is also a drawback. One thing worth= =20 noting is that the card can have funds stored in Euro, Sterling or US=20 Dollar.

Main site:

1. Card cost =3D =A320 (plus minimum initial currency load of =A3200)

1. An Issuance Fee may apply when you first load a Travellers Cheque Card.= =20 (Recommended Issuance Fee [per Card] =A320.00).

2. When you purchase a Travellers Cheque Card in a currency other than=20 Sterling, the Initial Load Amount, and any Reloads, will be converted from= =20 Sterling to the currency of the Travellers Cheque Card. Currently, the=20 conversion rate we use for initial loads and Reloads is 4% above the Amex= =20 Foreign Exchange rate.

1. Cash withdrawal at ATM =3D =A31.50 (EURO 2.00, US.50)

2. Shortage Fee (This is for going over the set spending limit) =3D =A315.0=

1. Card closure fee (for refund of cash value in the Account) =3D =A38.00= =20 (EURO 11.50, .50)

2. Reissuance Fee (upon Card expiry) =3D =A35.00 (EURO 7.00, .00)

1. Paper Statement Fee =3D =A33.50 (=A34.50, .50)

2. Transaction in a currency other than your card currency =3D Interbank=20 rates increased by a single conversion commission of 4.5%.

*Raphaels Bank/ICE Cash2Go Maestro*

ICE stands for 'International Currency Exchange' so presumably they are=20 trying to position this to the same kind of people as AMEX's Travellers=20 Cheque Card. Again the card is available in Euro, Sterling or US Dollar=20 formats. The fact that this is a Maestro card and not a full mastercard=20 may slightly limit acceptance.

Main site:

1. Card cost =3D =A35.00 or 1% of the amount loaded (whichever is the highe= r)=20 up to a maximum charge of =A318.75. (Minimum load value is 50 [=A3,$,Euro])= =2E

1. Card replacement fee =3D =A33.00

2. Card closure fee =3D =A33.00

1. Card balance replenishment =3D =A33.00

2. Cash withdrawal at ATM =3D =A31.75

1. ATM balance enquiry =3D =A30.30

Aimed at people who need Mastercard acceptance but can't get or don't want= =20 a credit card. There are two forms of the card, activeplus which appears=20 to be for regular users and has a monthly subscription but limits other=20 charges and flexiplus for infrequent users (no monthly fee but higher=20 costs elsewhere).

Main site:

Charges:

1. activeplus subscription =3D =A34.95 (per month)

1. flexiplus cost per transaction =3D =A31.00

2. flexiplus account maintenance =3D =A34.95 (only applies if Account has n= o=20 transactions including reloads for a period of 120 days from date of last= =20 transaction)

1. Card issue or replacement =3D =A39.95

2. Cash withdrawal at ATM =3D =A32.00 (UK) =A33.00 (Non UK)

1. Cash withdrawal (at bank) =3D =A33.00

2. Check your balance and recent transactions by automated phone service = =3D=20

1. Check your balance and recent transactions by speaking to a Customer=20 Service Advisor =3D =A30.50 per minute, minimum =A30.50

2. Card closure fee (for refund of cash value in the Account) =3D =A310.00

1. Foreign transaction fee =3D 2.75% (of amount withdrawn/spent)

Seems to be aimed at the same group of people as Cash Plus, however as=20 this is a Maestrocard it will have less acceptance than Cash Plus's=20 Mastercard.

Main site:

1. Card cost =3D =A39.95

1. Cash withdrawal at ATM =3D =A31.00

2. Foreign transaction fee =3D 2.75% (of amount withdrawn/spent)

1. Upgrade To Other Card Issued By Us (in the future) =3D =A310.00

2. Card Replacement Fee (Lost/Stolen/Expired) =3D =A35.00

1. Card closure fee (for refund of cash value in the Account) =3D =A310.00

2. Cost of topping up over the Internet and Paypoint Terminals (Any load=20 amount) =3D 3% of the load amount (minimum charge of =A31.00)

1. Cost of topping up at the post office (Any load amount) =3D 75p

Two card types, a 'Splash Plastic' card aimed at under 18s (actually from= =20

Main site:

1. Splash Plastic PAYG (Pay As You Go) application fee =3D =A36.99

1. Splash Plastic PAYG annual renewal fee =3D =A36.99

2. Splash Plastic PAYG cost per transaction =3D =A30.25

1. Splash Plastic PM (Pay Monthly) membership fee =3D =A31.49 (monthly)

2. Premium Card membership fee =3D =A31.99 (monthly)

1. Internet top up =3D =A31.50 (free at PayPoint shops and the Post Office)

2. Splash Plastic PAYG signature verified, Internet or telephone=20 transactions =3D =A30.25

1. Premium Internet or telephone transactions =3D 2.5% of Transaction value

2. Premium Cash withdrawal at ATM =3D =A31.50

1. Premium Cash withdrawal (at bank) =3D =A31.50

2. Premium cash back fee =3D =A31.50

1. Foreign transaction fee =3D 4% (of amount withdrawn/spent)

2. Splash Plastic PM reactivation fee =3D =A33

1. Premium reactivation fee =3D =A34