Lycamoney Prepaid Card Review

The Lycamoney Prepaid Card is available for purchase at www.lycamoney.co.uk

GBP CARD

^£4.99

Issue Fee

Monthly Fee £0.00

UK POS £0.00

UK ATM £1.50

FX FEE 1.50%

INTL POS £0.00

INTL ATM 1.50%*

LOAD Load for FREE via Bank Transfer , £1.50 via Post Office

*INTL ATM - The fee is 1.50% with a minimum fee of £1.50.

Find out more

The Lycamoney Prepaid Card comes with a few extras which make the card even more appealing than it already is and these include

Free SMS Text Alerts on all spend
£5 Free Lycamobile credit upon 1st load
10% Extra Mobile Minutes when you top up your Lycamobile with your card

Visit the Lycamoney Website to find out more.

Product Snapshot
The Good
The Not so Good
Rating

The Lycamoney Prepaid MasterCard provided by Lycamoney Limited offers consumers two amazing new prepaid cards; the Green Lycamoney Instant Issue card with guaranteed acceptance for all as well as a FREE upgrade to the Silver Lycamoney Prepaid Card. The Silver prepaid Card comes with the added feature to allow cardholders to send money for FREE using Lycamoney's card to card transfer functionality.

Lycamoney offers cardholders the option of adding up to three companion cards linked to the main prepaid card and these cards can be sent by the main cardholder to the secondary cardholder almost anywhere in the world. What makes this offer even better is that if the customer is a Lycamobile customer or they become a Lycamobile customer after they purchase their card they will receive £5.00 FREE Lycamobile credit upon activation and first load, thereby making their prepaid card purchase FREE.

For cardholders that top up their Lycamobile via their Lycamoney Card, there is an additional 10% bonus credit every time they top-up their Lycamobile. Both the Green and Silver Lycamoney Prepaid Cards have no monthly fee, no transaction fee and very low ATM fees.

The Silver upgraded prepaid cards can also be loaded via bank transfers free of charge and these funds will normally arrive the next working day. Available in GBP, with a foreign exchange fee of just 1.50% above the MasterCard mid rate, the Lycamoney Cards offer a cost effective way to carry travel money.

Available as an Instant Issue Card and a full KYC silver prepaid card, the Lycamoney prepaid Cards come with an attractive design and more importantly, an attractive fee structure. With Free transactions in the UK and abroad and a low ATM fee, the Lycamoney Prepaid cards are definitely consumer usage friendly. Contacting customer services is also not a painful premium number but a much healthier lo-cal number. The Interactive SMS features and balance alerts are a sure winner.

The Lycamoney Prepaid Cards are available in GBP currency only which means that you do incur a 1.50% FX fee (one of the lowest in the UK) for usage abroad but an excellent option for daily use in the UK and for sharing money with friends and family.

Lycamoney Prepaid Card
Reviewed by Prepaid365 on 8th June, 2011.
Simplicity and Innovation with Lycamoney Prepaid
The Lycamoney Prepaid Card is available for purchase at www.lycamoney.co.uk.
Rating: 4.5

Application Process

You can apply for Lycamoney Prepaid Cards online using a rather simple application process.

Apply online: You can apply for the Lycamoney Prepaid cards by simply visiting the Lycamoney Prepaid Card website and completing the online application form where a card will be issued to you. That’s it – your fully personalised card is on its way and should be with you in 5-7 days.

Note: As long as you live in the UK and are 18 or over, you’re guaranteed to get one. Green card holders can upgrade to the Silver card by providing KYC details.

Card Features

Fixed Fee Cash Loading: £1.50 at Payzone/ePay agents and just £1.50 at Post Office Branches nationwide.
Low FX Fee: Very Low foreign exchange fee – 1.5% (one of the lowest in the UK)
Multiple Companion Cards: Cardholders can request up to 3 companion cards on their account compared to a single companion card on most other products.

Card Design

The beautiful green Instant Issue Lycamoney prepaid card is complemented by the fully personalised and sophisticated Silver Lycamoney prepaid card.

Card Fees

An attractive fee structure with some of the lowest ATM fees around and fixed fee loading at over 35,000 UK locations

Card Issue Fee: £4.99
Monthly Fee: FREE
Transaction Fee UK: FREE
ATM Withdrawal Fee UK: £1.50.
Reload Fee: Bank Transfer Load FREE*, £1.50 via Post Office/Payzone/ePay.

*Note: Bank Transfer, Standing Orders and Wage Transfers are only available as loading options on the fully personalised Silver Lycamoney Prepaid Card

Account Management

Lycamoney Provide a comprehensive online account management and IVR Facility. These facilities can be used FREE of charge for the following:

24/7 Online Access to account information
Balance alerts via SMS after every transaction
IVR access to account information
24/7 Call centre
Interactive SMS features for Lycamobile users

Remember, all this functionality is available to you absolutely FREE!

Using Abroad

The Lycamoney prepaid Cards are currently available only in GBP. A Mastercard branded prepaid card, these cards can be used around the world at over 32 million global locations for purchases. The Silver card can also be used for making International cash withdrawals at over 1.5 million ATM’s displaying the Mastercard Acceptance Mark.

POS transactions abroad are free subject to an FX fee of 1.50% if used in a region with a different currency from GBP. Use of ATM’s abroad incur a £1.50p or 1.5% of the amount withdrawn whichever is higher

So you can definitely use your Lycamoney Prepaid Cards around the world but if your main intended usage is abroad, then it may be worth considering prepaid travel cards.

Reload Options

You can load your Lycamoney Instant Issue Prepaid Card and the Silver Full KYC Lycamoney Prepaid card with Cash at Payzone and Post Office Locations across the UK. Additional loading options are available for the Silver Card

Green and Silver Lycamoney Prepaid Cards

Using Cash at Post Office – £1.50
Using Cash at Payzone – £1.50
Using Cash at ePay – £1.50

Additional Options for Loading the Silver Lycamoney Prepaid Card

Standing Order – FREE
Bank Transfer – FREE

Note: The minimum load amount is £10.00 for all options. You can find additional details at the Lycamoney Prepaid Card website.

Customer Services

The Lycamoney prepaid Mastercard customer services team can be reached using various options as detailed below.

Telephone: +44 (0) 207 132 1100 (Available 24/7 )
Email: info@lycamoney.co.uk (General Enquiries)
Online Support Centre: On the “Contact Us” page of the Lycamoney Website
Lost and Stolen: +44 (0) 207 132 1101 (24/7)
By Post: Lycamoney, 3rd Floor, Wallbrook Building, 195 Marsh Wall, London, E14 9SG

Complaints Procedure

The Lycamoney Prepay Card team are dedicated to responding and resolving all complaints as quickly as possible and complaints can be sent across to customer services using the contact details above. It is the policy at Lycamoney to answer complaints within 5 working days if they cannot be resolved immediately upon being raised.

If you are still not satisfied after following these procedures, you can ask the Ombudsman to review the complaint. Alternatively you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London, E14 9SR or telephone 0845 080 1800. Calls may be recorded.

Awards

If the Lycamoney Prepaid Card proves as inspired an offering as Lycamobile, then this space should not be vacant for too long!

Overall Card Rating

Simplicity and Innovation with Lycamoney Prepaid!

Get the Lycamoney Prepaid card now

Lycamoney Prepaid Card Review was last modified: April 27th, 2015 by Prepaid365

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