The ClearCash Prepaid MasterCard Review

The ClearCash Prepaid MasterCard^® Card

What Prepaid? Summary

Date Reviewed: June 2010

Which Prepaid Rating

The ClearCash Prepaid MasterCard is one of the latest fully branded chip and PIN prepaid cards to be launched in the UK . It’s the first real contender to match most of the benefits available with the UK’s leading prepaid cards.

In fact, if you are looking for a prepaid card that has the acceptance of MasterCard, but are also looking to withdraw cash on the card, then it’s currently the cheapest around, with UK ATM cash advance fees being lower than all other fully branded prepaid MasterCard cards available. This is for both the Pay Monthly and Pay As You Go option

What's Good

The ClearCash prepaid MasterCard comes with your own personalised card and “icount” and is a fully branded Chip and PIN MasterCard - accepted at more than 24 million locations around the world.

It offers advantages over Maestro branded cards, with acceptance at most online internet retailers globally, display the MasterCard brandmark.

UK ATM cash advance fees are the lowest of any other MasterCard branded cards currently available.

You don't need a bank account and are guaranteed to be accepted, regardless of your credit history.

Also benefit from the award winning BudgetMaster tool to help you manage your finances better as well as have access to downloadable budgeting guides. In addition Purchase Protection is included in the Pay Monthly card (extra cost for PAYG card)

Benefit from being able to check your balance via SMS message as well as chat to friendly advisors online through the ClearCash website.

What's not so good?

Not a lot really! – ClearCash caters to everyone’s needs by having not only a pay monthly, but also PAYG tariff.

Key Features

Prepaid Card Type

The ClearCash card is MasterCard branded, and is therefore accepted at over 28 million retailers around the world displaying the MasterCard brand mark. It's also accepted at all ATM's around the globe displaying the Cirrus brand mark.

Application Process

The application process is very quick and easy to use. Apply online and you can pay via debit/credit card or SMS text message.

Card Design

Only one card design available that is clean – New designs are going to be done soon! + is chip and PIN

Fees

ClearCash offer 2 different products – A pay monthly version, where you pay a fixed monthly fee of £9.99, but no purchase fees, and a pay as you go product where you pay a 2.5% fee on all purchase transactions.

UK ATM fees are a low 50p per withdrawal on the pay monthly product – the cheapest withdrawal fee on any prepaid card on the market and the PAYG is again cheap at 75p.

But remember, if you intend to use your card frequently, and have the pay as you go Clercash card, watch those transaction fees as they will add up – if this is the case, opt for the Pay Monthly card – great value! In addition Purchase Protection is included in the Pay Monthly Card (extra cost for PAYG card).

Self Servicing

You can service your icount on the ClearCash website or via an interactive livechat facility. You can view your balance, recent transactions and change your personal details.

You can also now get your balance via SMS text message.

Re-load Locations

The ClearCash card can be reloaded and topped-up at the following loctions: Post Office, Paypoint participating retailers, bank transfer, and now top up using a cheque!.

Customer satisfaction and awards

The ClearCash Prepaid MasterCard recently won the award for best card to the unbanked

The ClearCash Prepaid MasterCard® Card

The ClearCash Prepaid MasterCard^® Card