Product Snapshot
The PFS prepaid MasterCard card is available in USD, EURO's and GBP through Prepaid Financial Services (PFS), a prepaid card company who provide prepaid cards for businesses and consumers.
PFS was set up in 2007 to facilitate small card orders for business clients interested in the concept of prepaid cards and wanting to run a trial with an off the shelf prepaid solution before launching a co-branded bespoke prepaid card solution. Prepaid Financial Services also provide individual customers with prepaid cards.
For Businesses, they promise to launch a generic prepaid card pilot or small order programme within 5 working days and absolutely no minimum volumes clauses or contracted volumes are involved. So if you want to launch a scheme for 10 cards or a 1000 cards, PFS have got a solution for you.
By using a PFS off-the-shelf prepaid card solution, you are not tied into minimum numbers of card orders or contracted volumes which is common practice with most prepaid providers.
The maths is quite simple really. PFS help you launch in 5 working days and you start earning revenue from Day 1, the more cards you sell, the more revenue you earn.
The Good
For businesses, PFS provide a unique proposition with their speed to market and this could provide you the competitive edge in your marketplace. Coupled with the flexibility of their prepaid platform and innovative SMS functionality, you can manage your account no matter where you are in the world. The unique 5 day launch for generic programmes means you can take advantage of short temr opportunities in the market.
The Not so Good
Currently, the 5 day opportunity is only available for generic prepaid card programmes and the cardholder pricing is fixed - an extremely small price to pay to test the market before investing 5 to 6 figure sums in a co-branded prepaid card scheme.
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Application Process 
There are a number of ways you can apply for a PFS prepaid card as a consumer or a business..
- Apply online - if you have the right to reside in the UK, have a valid passport and a mobile phone then you can apply online on the PFS Website. Your card will arrive in 10 days
- Apply by post - you can apply using an application form on the PFS Website. It can take up to 10 working days for the cards to arrive
- Apply through your employer - if your employer offers thePFS prepaid card, you can apply through your employer. If they don't, you can ask them to get in touch with the PFS prepaid card team.
- Apply through your employment agency -if you are unemployed, you can still get the PFS prepaid card through your employment agency if they offer it . If they don't, you can ask them to get in touch with the PFS prepaid card team.
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Card Features 
- Free POS transactions within the UK
- Launch a prepaid card programmes in 5 working days
- You can manage your Chip & PIN secure PFS prepaid card using your mobile phone
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Card Design
At this stage, only one card design is available. We hear that more card designs are on the way for the travel, payroll and moneyshare industries.
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Card Fees
- Card Issue Fee - £8.95 (Card Issue + Activation)
- Monthly Fee - £1.00
- Transaction Fee UK - Free
- ATM Withdrawal Fee UK - 1.5% (min. £1.00 - max £3.75)
- Reload Fee - Free via bank transfer, £1.00 via debit card online/SMS
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Online Account Management and Self Servicing
You can service your account on the PFS prepaid card website or via an interactive voice response (IVR) facility. You can also use your mobile phone to manage your prepaid card account and move money between your cards. You can view your balance, recent transactions and change your personal details.
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Using Abroad
The PFS prepaid MasterCard card is available in GBP, USD and EURO's and is MasterCard branded. This means that you can use it at over 25 million locations that accept MasterCard worldwide. A POS transaction abroad will cost you an extremely reasonable £1.00 or equivalent in USD/EURO and an ATM withdrawal will cost you 2% of your transaction value. Using a GBP card in a USD/EURO currency territory or vice versa will incur a 3% foreign exchange cost but with three currencies to choose from, you should be able to avoid this fee.
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Reload Options
Funds can be loaded on to your PFS prepaid MasterCard card in a number of ways:
- Using Cash at any Payzone outlet - 3% of load amount
- Bank account transfer - Free
- Wage Transfer - Free
- Internet top up using your debit card - £1.00
- SMS/Phone top-up using your debit card - £1.00
- Card load from Primary to Secondary Card - 3% of transfer amount
Quite a vast array of options exist and you should choose the most cost-effective ones.
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Customer Service
There are a couple of ways you can get in touch with the PFS Prepaid Card Customer Services team.
- By Email:cardservices@prepaidfinancialservices.com
- By Telephone : +44 (0) 207 125 0321
- Lost and Stolen Cards: +44 (0) 207 125 0321
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Complaints Procedure
The PFS prepaid MasterCard card customer services team promise to investigate and resolve all queries with 14 days. You can also use the ‘Contact Us’ facility on the PFS Website to get in touch and detail your complaint.
You may be able to take unresolved complaints to the Financial Ombudsman Service at South Quay Plaza, 183 Marsh Wall, London E14 9SR. Telephone: 0845 080 1800 or +44 (0)20 7964 1000 (for calls from outside the UK) and e-mail: enquiries@financial-ombudsman.org.uk
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Awards
The PFS prepaid MasterCard card is an exciting new prepaid card which we think will be a big hit in the B2B and B2C markets. We are awaiting details of any award wins at this stage.
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Overall Card rating
An excellent product for businesses and consumers with a unique speed to market proposition!
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