Prepaid Cards

Everyday prepaid cards - Ordered by cards which incur the lowest first year costs for an upload of £500 with eight transactions of £37.50 each and four ATM transactions of £50 each, includes any special or introductory offers.

  1. Exclusive

    FREE £5 when you pay in at least £10 within first 7 days

    Great for
    Contactless Card. NO Credit Checks*, Monthly or Usage fees - EVER
    FREE to pay in by debit card, bank transfer, wages or benefits. Only 99p to pay in by Cash at PayPoint
    Up to 10% Cashback with top UK retailers
    But be aware that
    Customers without a verified UK address will be offered a lower limit card
    You must be aged 18 or over
  2. Exclusive

    Get £5 FREE on your first load of £50

    Great for
    No monthly, ATM, usage or currency fees for the first three months
    Up to £250 overdraft and £1,000 Direct Debit cover available - subject to approval
    Manage account via mobile app or online banking
    But be aware that
    After three months, regular ATM, usage and currency fees will apply, as well as a £5.95 monthly fee

Prepaid Euro cards - Ordered by biggest saving to customers based on current exchange rate with a €1000 load making 10 purchases of €50 and five ATM transactions at €100 each.

  1. Exclusive

    New customers will get £45 extra when loading the equivalent of £750 or more (this offer is only available through MoneySupermarket.com). Ends 31/08/2016. See provider site for full T&Cs

    Great for
    Load up to 7 currencies (GBP, EUR, USD, AUD, CAD, NZD, ZAR) and hold more than one currency at any time
    FREE to purchase, load and reload
    Use your card globally and manage your wallets online 24/7
    But be aware that
    £3 per month fee if not used for 12 consecutive months
    £10 fee for lost, stolen or damaged card replacement
  2. Exclusive

    New customers will get £8 extra when loading £300 or more, or £25 extra when loading £600 or more (this offer is only available through MoneySuperMarket.com)

    Great for
    All ATM fees refunded this summer for the FairFX ATM-Holiday*
    Free card (normally £9.95) when you load more than £50 onto the card
    No conversion fee in the UK - spend your leftover funds fee-free back home
    But be aware that
    There is a fee of 1.4% when card is used out of the Eurozone and UK
  3. Exclusive

    £18 Free to Moneysupermarket customers on first load, perfect mid-market rates (0% fee) on first swap and no inactivity fees. T&C's apply

    Great for
    £18 Free to Moneysupermarket customers on your first load. (Requires £50 load and is only available to the first 1,000 users only)
    Perfect mid-market rates (0% fee) on first swap for Moneysupermarket customers
    No hidden Fees and pay up to 10 times less than at banks and bureaux. No ATM fees for withdrawals over €250
    But be aware that
    You must be a UK resident aged 18 or over
    After first 0% fee swap, commission of up to 1.4% charged, depending on how quickly you ask WeSwap to complete your currency swap

Prepaid cards

Prepaid cards work a little differently to other types of plastic. Although you can use them to make purchases or withdraw cash in the same way as a debit or credit card, the key difference is that they need to be loaded up with cash in advance – and you can then only spend the balance on the card. 

There are a number of benefits to using a prepaid card, so it pays to compare your options carefully and select the right one for your needs.

Advantages of prepaid cards

Prepaid cards usually fall into two categories – pay monthly and pay-as-you-go. Pay monthly prepaid cards charge a monthly fee, but in return you pay lower transaction fees than you would with a pay-as-you-go card, and often, you will also be given rewards or cashback on your spending. 

Pay monthly prepaid cards are more suited to those who regularly spend on their card, while pay-as-you-go options are more suited to those who only make a handful of transactions on their card each month.

Because you can only spend the money you've pre-loaded onto your prepaid card, they are a great choice for those on a budget, for parents who want to keep an eye on their children's spending, or even for businesses. 

But another benefit of prepaid cards is that they don't require a credit check and, as a result, they are easier to get hold of than credit or debit cards. This means they can be a good option for those with a poor credit score or no credit history at all. Some prepaid cards will also allow you to add a 'credit builder' service to your card which will help you to improve your credit rating. 

What's more, certain prepaid cards can even be used as an alternative to a bank account, allowing your salary to be paid onto them.

Prepaid cards can also be a handy addition to your wallet if you're holidaying abroad. This is because a number of cards allow you to pre-load them with foreign currency and then side-step the expensive fees charged by many debit and credit cards for use overseas.

Disadvantages of prepaid cards

Prepaid cards can be riddled with fees, so it's important to read the small print carefully. 

In particular, you should watch out for monthly fees, charges for loading funds onto your card, fees for withdrawing cash or spending on your plastic, and inactivity fees – which kick in if you don't use your card for a number of months. 

Finally, unlike credit cards, prepaid cards are not covered under Section 75 of the Consumer Credit Act 1974. This protects credit card purchases between £100 and £30,000 against a retailer going bust, or your goods arriving faulty or damaged. This protection was extended up to £60,260 under the 2011 Consumer Credit Directive.

How our site works

We want to show you prepaid cards from as many companies as possible, so you can choose the best one for you. But some companies don’t want to be included on comparison websites, so we can’t promise to show you cards from every single company. We’ve ranked the cards from the lowest cost to the highest cost, based on a hypothetical scenario. You can find out more about how we work here.

Prepaid cards are not eligible for protection under the Financial Services Compensation Scheme

Prepaid cards

Compare the best prepaid cards with MoneySuperMarket and find the right deal for you - whether you're spending overseas, looking to improve your credit rating, or simply want to earn cashback and rewards.

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