Switcha's top picks

Revolut

Administration Fee
Free (Free card when you sign up with Switcha)
UK transactions
Free
UK ATM Withdrawals
Free (up to £200 per month)
Load charges
Free

You can spend all over the world without commissions, exchange currencies at the cheapest exchange rates in the market (interbank), open multi-currency accounts with super cool cards to get money at any ATM with no commissions, make payments and divide accounts with friends, monitor your expenses and much much more. 

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Creative Wealth Solutions Prepaid Mastercard

FCA Regulated Provider
Yes
Loading Limit
£50,000
Can I have multiple cards?
Yes

This card is issued by an FCA regulated company. You are able to load up to £50,000 at a time on this card and have multiple cards.

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All Prepaid Cards

Revolut

Administration Fee
Free (Free card when you sign up with Switcha)
UK transactions
Free
UK ATM Withdrawals
Free (up to £200 per month)
Load charges
Free

You can spend all over the world without commissions, exchange currencies at the cheapest exchange rates in the market (interbank), open multi-currency accounts with super cool cards to get money at any ATM with no commissions, make payments and divide accounts with friends, monitor your expenses and much much more. 

Let's go

Nimbl Pocket Money Card

Adminstration Fee
£15 a year (1 month free)
UK transactions
Free
UK ATM Withdrawals
£0.49
Load charges
Bank Transfer; free, debit card; free

The nimbl prepaid debit card is the best solution to help your children learn how to manage their money and become financially confident, in a controlled environment.

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Creative Wealth Solutions Prepaid Mastercard

FCA Regulated Provider
Yes
Loading Limit
£50,000
Can I have multiple cards?
Yes

This card is issued by an FCA regulated company. You are able to load up to £50,000 at a time on this card and have multiple cards.

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U account £0 Monthly

Administration fee
No fees
UK transactions
Free
UK ATM withdrawals
£1
Load charges
Bank transfer: free, debit card: free

Includes direct debits, a contactless Mastercard® card and a digital Money Manager. iOS and Android apps available now.

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Pockit Prepaid Card

Administration fee
99p
UK transactions
Free
UK ATM withdrawals
£0.99
Load charges
Bank transfer: free, debit card: £0.99, Paypoint: £0.99
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Cashplus prepaid MasterCard (Deluxe)

Administration fee
£5.95 then £9.95 a month
UK transactions
Free
UK ATM withdrawals
Free
Load charges
Debit card: free, Post Office: free

Free Direct Debits & online banking.

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U account £10 Monthly

Administration fee
£10 a month
UK transactions
Free
UK ATM withdrawals
Free
Load charges
Bank transfer: free, debit card: free
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U account £5 Monthly

Administration fee
£5 a month
UK transactions
Free
UK ATM withdrawals
£0.50
Load charges
Bank transfer: free, debit card: free
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goHenry Prepaid Account

Administration fee
£2.49 a month
UK transactions
Free
UK ATM withdrawals
Free
Load charges
Bank transfer: free, debit card: £0.50
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goHenry Custom Card & Prepaid Account

Administration fee
£4.99 then £2.49 a month
UK transactions
Free
UK ATM withdrawals
Free
Load charges
Bank transfer: free, debit card: £0.50
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Cashplus prepaid MasterCard (Flexiplus)

Administration fee
£9.95
UK transactions
£0.99
UK ATM withdrawals
£2
Load charges
Debit card: free, Post Office: free
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Soldo Prepaid Card - Personal

Administration fee
No fees for 3 months then £2 a month
UK transactions
Free
UK ATM withdrawals
£0.50
Load charges
Bank transfer: free, debit card: £1
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Tuxedo Pay As You Go Card

Administration fee
£9.95
UK transactions
2.95%
UK ATM withdrawals
1.5%
Load charges
Debit card: free, Post Office: £0.99, Paypoint: 3%
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Cashplus Prepaid Gold (Freedom)

FCA Regulated Provider
n/a
Loading Limit
£5,000
Can i have multiple cards?
n/a
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CardOneBanking cardone

FCA Regulated Provider
Yes
Loading Limit
£5,000
Can i have multiple cards?
No
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Advantages of prepaid cards

Prepaid cards allow you to set your spending limit whilst having the convenience of a credit or debit card. They're readily available to everyone, regardless of your credit rating, income, or whether you hold a UK bank account.

As they don’t offer a credit facility you can’t get into debt and there’s no need for the provider to credit check you. As you set your own spending limit in accordance to your budget, you are completely in control of how much you spend and how frequently you top up your card. 

Your prepaid card will work in the same way as a credit or debit card, so you are able to use it abroad and in the specific currency you need. You can pre-load them with the currency you need to avoid the fees that are charged by many debit and credit cards for use abroad.

Prepaid cards can also be seen as an alternative to a traditional bank account, with some cards having the facility for your wages to be paid directly onto your card. Many prepaid cards also offer cashback advantages for any purchases you make.

As you can only spend money that’s been pre-loaded onto your card, they are ideal for people who want to stick to a tight budget, parents who want to oversee their child's spending, or for businesses use.
 

FAQs about prepaid cards

What is a prepaid card?

Q

How do prepaid cards work?

Q

Can you go overdrawn on a prepaid card?

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Is there a limit to how many prepaid cards I can have?

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Can I use a prepaid card abroad?

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Are there age restrictions on prepaid cards?

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Will I need to provide ID to purchase a prepaid card?

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Which type of card do I need?

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