Virgin Prepaid Card Review

Virgin Money offers a prepaid card which you load money onto and then can use in the same way as a credit card, charge card or debit card. Here’s our review of this prepaid card.

Virgin Prepaid CardPrepaid cards are becoming increasing popular, both for every day spending and as a good way to get the best deal on holiday travel money.

They’re also a great alternative to old-fashioned pocket money! With the Virgin prepaid card, you can get up to 4 additional cards – maybe one for each member of your family or to help you budget with funds across different cards.

As with all prepaid cards, the one from Virgin, is not a credit card, charge card or debit card but you can you it in exactly the same way to shop online, over the phone and in stores.

You simply load money onto it before you shop. When your funds are running low, you just top it up. That’s easy to do too – and it’s free if you do it at a post office, by debit card, or by direct transfer or there’s a fee by credit card or at a shop or garage via PayPoint.

You don’t need to have a bank account to own a Virgin prepaid card and there are no credit checks which means that subject to ID verification, there’s 100% acceptance. It takes just a few minutes to apply online.

The card is accepted wherever you see theVisa Acceptance Mark.

There are 2 tariffs available from Virgin, there’s pay as you go if you think you’ll only use the card occasionally or there’s pay monthly if you’ll use if more frequently. Whilst you can switch between tariffs, it’s important to consider how you will use the card to ensure you don’t incur unnecessary charges.

Here’s a look at a couple of examples of spending over a month to help you see the differences between each of the tariffs:

Example 1 – £50 on purchases and a £20 cash withdrawal

Costs Pay as you go Pay monthly
Monthly fee NONE £4.75
Transaction fee on £50 spend £1.48 FREE
Fee on one £20 cash withdrawal 59p £1.50
Total charges £2.07 £6.25

Example 2 – £500 on purchases and a £200 cash withdrawal

Costs Pay as you go Pay monthly
Monthly fee NONE £4.75
Transaction fee on £500 spend £14.75 FREE
Fee on one £200 cash withdrawal £5.90 £1.50
Total charges £20.65 £6.25

With the ‘Pay Monthly’ tariff each cash withdrawal has a flat £1.50 fee.
This means it is better value to do a single withdrawal rather than several smaller ones that add up to the same amount.

As with the Virgin Credit card, the prepaid card also gives you access to exclusive discounts at Virgin companies and beyond.

For more information see the Virgin Money website.

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