I've just signed up for a FairFx prepaid US Dollar card for an upcoming trip. Someone asked me what happens if the company administering the cards goes under and it has got me to wondering. Is there any protection for money that is loaded onto these prepaid cards in the event of them going bust? I plan to load money regularly in the months leading up to my holiday and would like some reassurance that I won't lose it all if something goes wrong.

The card is issued by Newcastle Building Society so I would guess that it is covered in the same way as other deposits with them. It would be worth checking with them though.

It does worry me that they put lots of logos onto their web site using very flimsy justification - they bank with Barclays, for example - and this would make me hesitant about trusting them with any large amounts.