UK Prepaid Card Cuts ATM fees and Offers Cash-backs

by Mercator Advisory Group 0

In an effort to improve their value proposition to consumers, UK prepaid card company My Travel Cash has just sweetened its offering by cutting ATM fees while providing one percent cash back on its prepaid cards.

Prepaid card provider My Travel Cash is seeking to revolutionise the prepaid card market with the removal of fees and the addition of an unlimited 1% cashback deal.

From today (14 June) My Travel Cash has removed foreign ATM fees from its range of Euro, US Dollar and Multi-Currency prepaid cards for new and current customers. This will make My Travel Cash one of the few providers (including Caxton FX) that do not charge a fee for loading the card or a foreign ATM fee.

The Euro and Dollar prepaid cards do not charge a foreign loading fee either for use in a country with the same currency. However, there is a foreign loading fee of 2.99% if they are used elsewhere. The Multi-Currency card charges a flat 2.99% fee for use in the UK or abroad. There is also a £2 inactivity fee if the card is not used for 12 months.

Mercator Advisory Group’s newest report, Global Prepaid Markets Potential 2011, delivers an expanded view of global prepaid opportunities in over 50 markets including the UK.

Read the article here: http://www.which.co.uk/news/2011/06/…shback-255971/

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