The financial crisis experienced around the world in recent times has elevated the need for consumers to manage their money better. One of the ways to do this is by using a Prepaid Card product as a monthly budgeting account.
Some of our clients have seen this niche and grabbed it with both hands. By encouraging the cardholders to allocate "Spending Money" to their card monthly via a standing order or bank transfer programs have increased their average load values and the consumer is usually rewarded with a little or no load fee option.
Another element that appears to becoming increasingly popular with our clients is the ability to add multiple companion cards for their family, especially teenagers and children at university. By adding these companion cards the main account holder can allocate an allowance in real time at the click of a button or even by using their mobile phone. These card enable even those under the age of 18 (the usual age for a scheme branded card) to purchase online safe in the knowledge that they are never revealing their primary bank account.
Gone are the days of the kids writing down your card number and downloading their music or games without you knowing about it until the bill arrives.
To find out more about the Money Management Cards please contact us.