Post Office Launches Money Card
The Post Office is today launching its Post Office Money Card – a pre-paid MasterCard® card offering customers the opportunity to take control of their finances. Customers will have the choice of two options: Post Office Money Card Pay As You Go or Pay Monthly, both of which will provide them with the convenience of a credit or debit card without the worry of spending beyond budget.
Money Cards can be topped up in every Post Office branch, with 2,500 branches offering over 60,000 extra opening hours and around 1,500 open on Sundays and through Post Office mobile vans which visit over 250 rural locations in the UK. Customers can also load money via website, call centre and SMS, once the customer’s details are registered via www.postoffice.co.uk/moneycard. The maximum load at any one time is £500, free of charge.
This introduction of the Post Office Money Card is part of Post Office’s ambition to drive growth in its financial service business as well as challenging the market by offering customers a real alternative to other providers.
Designed to make life easier, the Post Office Money Card provides a secure and convenient way to buy goods, be it online or in store. Customers will be fully in control of their finances as they will only be able to spend what is available on the card.
Alan Smith, Head of Payments & Banking Services at the Post Office, said: “The launch of the new money card is yet another way in which Post Office is offering its customers a choice in how they manage their money; the card provides an alternative to traditional payment methods, such as a debit or credit card.
“The introduction of the Post Office Money Card is a welcome addition to the Post Office’s already well-established award winning financial services offering. The card offers customers the flexibility they need to carry out their day to day transactions while enabling them to closely manage their budget. The card can also be topped up in a number of ways, meaning customers can manage their money while on the move.”
Marion King, President at MasterCard UK & Ireland, said: “We are excited to partner with the Post Office to launch this prepaid card. The Post Office has a significant retail network and this new payment card maintains our focus on financial inclusion which aims to increase economic opportunities and life outcomes for the UK consumer.”
Accepted by retailers in the UK, the Post Office Money Card can be used for everyday spending, whether on the high street, online, or to withdraw cash from tens of thousands of ATMs.
The launch of Post Office Money Card will complement its existing award-winning products and services including travel money, travel insurance, savings, mortgages, mails and government services.
