bread card prepaid review
|What Prepaid SummaryDate Reviewed: June 2010
What’s Good ?
So, what’s good about the new BREAD Card? Is it really the best thing since sliced bread?
Well, If it were a case of comparing a Tesco standard Value loaf, with a Tesco finest one, then the BREAD prepaid card would be somewhere in the middle.
The BREAD card has undergone a number of improvements since its original launch, and BREAD customers are now able to reload their card for FREE at over 14,000 Post Offices around the UK.
BREAD have launched a new Cash-back site, and you earn money by shopping at over 1000 leading UK online shops including Currys, Tesco, Boots, Littlewoods and more.
BREAD have also introduced a new SMS service enabling customers to get their current balance sent directly to their mobile phone.
So, if you are shopping in Tesco and tempted by that ½ price Microwave Oven, you do not need to stress over trying to remember all of your security answers before calling Customer Service. Your BREAD card balance is available at the click of a few buttons on your mobile!
So, you will be “cooking” in no time.
What’s not so good ?
The catch comes in the form of a card usage fee of 2%, which is added to purchase transactions made using the card. So, if you purchase a new Microwave for £50, a fee of £1 would be added and charged to your account.
This is certainly not uncommon amongst “Pay As You Go” prepaid cards, where either usage or top-up fees are applied. In fact, most other pay as you go prepaid cards charge a fee of 2.95% or 3%, so BREAD is more cost effective than most.
The BREAD card can be reloaded for free at the Post Office, by BACS/Wages payment, or by standing order. However, if you choose to reload your card with cash at a PayPoint participating retailer, this is subject to a fee of 3%, but funds are almost instantly credited to your BREAD account.
But, be warned that if you need to speak to a BREAD card call centre representative, you will be charged 80p per minute for the privilege, so make use of the free SMS services.
The BREAD Prepaid Maestro application process if very simple, but you will need a driving license or passport to apply. Once you have entered all of your details, you can pay your £10 card issue fee via credit or debit card, or real-time by SMS Text Message.
2 card designs are available, so one of them is sure to be to your taste.
The BREAD card remains reasonably competitive compared to other pay as you go prepaid cards. You will not be charged a monthly fee, and can reload your BREAD card for free with up to £3500. You can also reload via PayPoint, but this is subject to a fee of 3% of the amount reloaded.The UK ATM cash withdrawal fee is also competitive when compared to other prepaid MasterCard branded cards, and is currently set at £1.50But, remember that UK purchase transactions are subject to a 2% fee, so for every £10 spent, a fee of 20p will be charged.
Comprehensive website self servicing options including: Order replacement card, Order replacement PIN, Update your details, Send an email question to customer services Dispute a transaction, View all of your transactions, Top up your account, Report your card lost or stolen. Free SMS Balance Service is also available.
The Bread Card is issued by Newcastle Building Society pursuant to licence from MasterCard International Incoporated or its affiliates. Newcastle Building Society is authorised and regulated by the Financial Services Authority