Tuxedo Prepaid Card Review
What Prepaid Card?
Prepaid Summary Review.
Date Reviewed: September 2007
What is Tuxedo? Tuxedo Prepaid Card Review
The Tuxedo Maestro card is one of the latest prepaid cards to hit the UK. Its primarily marketed for use as a money share product, enabling customers to load money onto a Tuxedo card in the UK, and conveniently withdraw the money overseas, in the relevant local currency. The Tuxedo card can also be used at all retailers globally displaying the Maestro brand mark.
Would you save money using a Tuxedo card rather than a traditional money transfer agent, such as Western Union? – Yes, you would certainly save money in most circumstances, but depending on your intended use, there may be other prepaid cards on the Market better suited for your needs.
Tuxedo have made it easy to pay for your card, and this can be done by debit or credit card, SMS Text Message or by a Paysafe Voucher (available from PayPoint participating retailers)
Cards are also re-loadable at PayPoint now (FREE till March 2008)
What's not so good?
If you intend to use the card for money share overseas, do your home work and make sure that the county where you intend to use the funds has retailers that accept Maestro. Whilst Maestro is the lead debit card brand for MasterCard, acceptance is still restricted to around 7 Million retailers globally, which is limited when compared to the full MasterCard brand acceptance of 24.6 Million locations around the world.
There may already be more cost effective prepaid cards available in the UK. So, depending on your intended use, it may be wise to review other prepay cards available, before making a selection.
Application Process - 4 star prepaid rating.
Getting a Tuxedo card pack is easy! You can pay for the pack by SMS Text Message, Paysafe Vouchers (available from Paypoint participating retailers) or by debit or credit card. You can expect you receive your card pack in around 7 days.
Card Designs -3 star prepaid rating.
Only one Tuxedo card design is available, but it will stand out from the crowd!
Fees - 5 star prepaid rating.
The Tuxedo prepay card fees can add-up, depending upon your intended use, as whilst Tuxedo do not charge a foreign exchange rate fee, a 2.95% fee is added to all retail transactions, regardless of whether they occur in the UK or abroad.The Tuxedo prepaid card may be re-loaded for free over the bank counter, or for as little at 99p per reload at the Post Office. You can also reload at over 17,500 PayPoint locations throughout the UK for free until March 2008.UK ATM fees also represent good value, for example, a £200 UK ATM withdrawal will cost you £1.50. (1.5% of transaction value/£1.50 max)However, you will get hit with a 99p monthly fee if you do not use the card at least once every month (No charge in the first 2 months after activation)
Self Servicing - 4 star prepaid rating.
You get all the normal internet self services options that you have come to expect with online banking.
The Tuxedo card is issued by Newcastle Building Society