NEW - Virgin Money Visa Prepaid Card Review

Product Snapshot
The brand new and shiny Virgin Money prepaid Visa card is finally here. This prepaid visa card is bought to you by the team at Virgin Money and MBNA and provides with a world of Virgin discounts as added value on top of all the standard benefits of a pay as you go or pay monthly prepaid credit card. This means that as a Virgin Money customer you can get access to the following sort of discounts

• 7.5% off Virgin Holidays.
• Exclusive Savings with Virgin Media.
• 10% off at Virgin Wines.
• 30% off with Virgin Books.
• Upto 20% off Virgin Experiences.
• 10% off VIE at home.
• 1 month free with Virgin Digital Help and
• Half Price Virgin Balloon Flights.....

You can use your Virgin prepaid card to spend just like you would use your credit or debit card wherever you see the VISA acceptance mark. The main difference is that you need to load it up with cash before you shop, rather than paying for it after. That means no worrying about bills or interest, and no getting carried away and absolutely no getting in debt on your Virgin Prepaid Card.

This useful alternative to credit cards gives you the freedom to shop safely online, by phone or in the high street and is great for helping you manage your spend as you can't overspend and the discounts mean that there is always more in your pocket to start with.

The Good
Ease of application, two excellent card designs and aspirational brand value to start with - but where the Virgin Money prepaid Visa card really scores is with access to a world of Virgin discounts including discounts at Virgin Media, Virgin Wines,Virgin Books, Virgin Holidays and Virgin experiences as well. The Virgin Money prepaid card is part of the VISA network and hence benefits from the convenience and ease of usage at over 14 million worldwide locations. What's more, there are two tariffs - Pay Monthly and Pay As You go and you can even switch between tariffs for free.

The Not so Good
The card is available in GBP only and hence is not the friendliest card for travel abroad and there are a few other cards in the market which have lower transaction fees but the Virgin Money prepaid card has excellent overall value with its exclusive access to Virgin discounts and you do have the option of the new Virgin Money Prepaid Travel cards to consider as well.

Application Process

• Apply online - if you have the right to reside in the UK, you can apply for your Virgin Money prepaid card online. All you need to provide a few personal details and your address and you are good to go. You can choose from the Red or Pink card as well as choose whether you want a pay monthly prepaid card or a pay as you go prepaid card. Your card will arrive within 2 weeks.
  
  
• Starter Pack - If you bought a Virgin Prepaid MasterCard PayPoint or SMS voucher, or starter pack before 8 December 2010, please call the Virgin Money Prepaid card team on 08454 601 606.

Remember, you need to be aged 18 or over and be a UK resident to apply for the Virgin Money Prepaid Visa Card.

You can pay for your Virgin Money prepaid card application via text message, using a PayPoint e-voucher, with a credit or debit card. Choices aplenty with the Virgin Money prepaid cards.

Card Features

• Ease of application: No credit check, just need a valid UK address and 5 additional cards.
• Switch between PAYG and Pay monthly Tariff for Free.
• Access to exclusive Virgin money deals on holidays, books, wine, flights and more from Virgin.

Card Fees
There are two pricing plans to choose from – a Pay As You Go price plan and a Pay Monthly price plan giving you the choice of tariff to suit your needs with the Virgin Money Service, branding and branding as standard.

Virgin Money Pay As You Go Prepaid Card: - Get it now

• Card Issue Fee - £9.95.
• Monthly Fee - Free.
• Transaction Fee UK - 2.95%.
• ATM Withdrawal Fee UK - 2.95%.
• Reload Fee - Free at Post Office and via debit card. 2.75% via PayPoint.

Virgin Money Pay Monthly Prepaid Card: - Get it now

• Card Issue Fee -£9.95
• Monthly Fee - £4.75.
• Transaction Fee UK - Free.
• ATM Withdrawal Fee UK - £1.50.
• Reload Fee - Free at Post Office and via debit card. 2.75% via PayPoint.

For a complete listing of the fee structure, see the "What does it cost?" section on the Virgin Money Prepaid Card Website. Furthermore, you can switch between tariffs for free. So if you end up using the card more than you thought you would or a bit less, just switch.

You can switch between tariff's once your card is set up, and then once every four months if you wish using your online virgin money prepaid card account.

Using Abroad
The Virgin Money prepaid card is Visa branded. Hence, it means you can use it at over 14 million merchants worldwide and can also be used to withdraw cash at over 1 million ATM's worldwide.

However, only a GBP card is available which means that there are additional fees payable for usage abroad. There is a 3.5% transaction fee chargeable in addition to currency exchange rate that you will pay for both purchase and ATM transactions on the Pay as you go card and 2.95% and £1.50 ATM withdrawal fee on the Pay Monthly Card. So whilst the option exists to use the Virgin Money prepaid Visa card abroad, it can be an expensive option.

If you are planning a trip abroad, it may be wiser to consider the Virgin Prepaid Travel Money Card - which is available in in a choice of currencies (US Dollars or Euros) - or consider other prepaid travel cards.

Note: that you cannot use your Virgin Money prepaid card in Cuba, Burma, North Korea, Iran or Sudan.

Reload Options
Funds can be loaded on to your Virgin Money Visa Prepaid card in a number of ways. The list below shows the available options and the approx. time in which the funds are made available on your card following the load.

• Using Cash at any PayPoint outlet - 2.75% of load amount (Immediately)
• Using Cash at any Post Office outlet - Free (1 day)
• Bank account transfer - Free (4 Days)
• Wage Transfer - Free (4 Days)
• Internet Debit Card Top-up - Free (Immediately)
• Internet Credit Card Top-up - 2.5% (Immediately)

Quite a vast array of options exist. Just find the one that works best for you.

Customer Service
There are a number of ways you can get in touch with the Virgin Money Visa Prepaid card Customer Services team.

• By Phone - 0845 089 6278 (Available 24/7)
• By Email: info@prepaidcard.virginmoney.com
• Lost and Stolen Cards: +44 (0)845 089 6278
• By Post - Virgin Money Prepaid, c/o MBNA Europe Bank Limited, PO Box 1004, Chester Business Park, Wrexham Road, Chester CH4 9WW

*Calls may be monitored or recorded. Maximum call charge from a BT landline is 3.9p per minute. Calls from other networks may vary whilst email is free

Complaints Procedure
If you would like to make a complaint, or contact MBNA for any other reason connected to these terms and conditions or regarding the management of your Virgin Money prepaid credit card, please write to Virgin Money at Virgin Money Prepaid, MBNA Europe Bank Limited, PO Box 1004, Chester Business Park, Wrexham Road, Chester CH4 9WW.

Any complaints you have will be dealt with quickly and fairly. 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