4 Reasons Prepaid cards are seeing a boom in 2019.
1. For overseas travel
Travelling overseas this year? Carrying a lot of cash while travelling is quickly becoming a thing of the past. Prepaid cards are a convenient and safe way to pay when you’re overseas as thieves can only get access to the money that’s loaded onto it, nothing else.
With Vasco Pay being powered by Visa, this means you will be covered under Visa’s zero liability policy for any fraudulent charges or unauthorised payments made on your account.
Tip: there’s a few ways to access money overseas with your Vasco Pay card. You can tap and go with Visa payWave, swipe your card at EFTPOS machines, or withdraw cash from ATMs.
2. Helps you stay on budget
Christmas is coming and it is the time of the year that many Australians fall off the budget track. In 2019, Australians racked up almost $30 billion in credit card, with the average person amounting to $1,727 in debt.*
With 27% of people expected to take more than 12 months to pay off the debt, we believe the best way is to lay off the credit cards in 2019.
One way is to set aside your ‘splurge’ budget and transfer the amount to your Vasco Pay account. When you go shopping, only take your Vasco Pay card, and leave the credit cards and cash at home. Once you’re running low on funds, you can simply load your account and do it all over again!
Tip: set a ‘card balance alert’ so that you’ll know when to reload your Vasco Pay account.
3. Shop securely online
Online shopping is a popular way to shop these days but sometimes it can turn into an upsetting experience when you’re hit with a fraudulent charge. With Vasco Pay, we eliminate the risks to your privacy as your personal and main bank account details are not linked to your Vasco Pay account. This protects you from potentially having to deal with potentially exorbitant fraudulent charges on a credit card.
Tip: link your Vasco Pay card to your PayPal account for maximum online security!
3. Teach your kids how to manage money
Prepaid cards are great for kids to use as allowance or emergency funds without having to carry cash around. This means that the kids won’t have to deal with the responsibility of owning a checking account or the risks of credit card debt, giving you a peace of mind.
Tip: the easiest way to give your kids allowance is to set up a recurring payment e.g. $10 a week.
* Finder.com.au “Australians have racked up $29 billion in Christmas credit card debt“, January 2019