- ClearCash responds to customer demand to supply cheque cashing service

- ClearCash provides this service up to 45% cheaper than any other UK Prepaid card providers for cheques £250 and under

The cheque isn’t dead yet. To meet heavy customer demand, ClearCash has launched a cheque cashing service which can be up to 45% more cost effective than any other UK Prepaid card providers.

Many ClearCash users rely on the card as their sole financial portal. Recognising this, ClearCash introduced this service to ensure clients can make use of cheques given to them as gifts or payment for services.

ClearCash launched in 2009, is targeted towards people struggling to manage their finances and those who may not be able to use a normal bank account due to bad debt or poor credit rating.

Samuel Mond, Operations Director of ClearCash comments:
“The appeal of ClearCash has widened substantially over the last 12 months to people of all backgrounds and finances – mainly because we offer tools which are useful to anyone wanting to stretch and manage their budget in such frugal times.

“The cheque cashing service was clearly in demand but we needed to make sure it was a cost-effective service too. There was no point introducing it if a client ended up losing too large a proportion of the value of their cheque just to pay for the privilege of cashing it.”

This additional service has been incorporated into the ClearCash Prepaid card’s portfolio, which already includes the interactive BudgetMaster, enables users to see first hand whether they are over or under spending. This has proved a popular resource, helping cardholders get to grips with their finances and gain a higher level of understanding regarding money management.

Earlier in 2010, ClearCash was awarded Best Unbanked Pre-paid Card 2010 and runner up as Best Pre-paid Newcomer 2010 – coming second to the more publicised O2 Card, by Pre-paid 365.

© 2010 ClearCash Limited, Nelson House, Park Road, Timperley, Cheshire, WA14 5BZ: Registered in England No. 2441375. Account opening fee payable. Proof of identity will be required. The ClearCash prepaid MasterCard is operated jointly by Payment Card Solutions (UK) Ltd and Quantum Card Services Ltd. MasterCard is a registered trademarks of MasterCard International Incorporated. The CARD is issued by Newcastle Building Society ("NBS") pursuant to licence by MasterCard International Inc. NBS is authorised and regulated by the Financial Services Authority as an issuer of e-money (registration no. 156058).

Notes to editors:

ClearCash Cheque Cashing Service is up to 45% more cost effective than any other prepaid card providers for cheques cashed up to the value of £250.00

The only other Prepaid cards, to our knowledge at this time, which offer a cheque cashing service are 45% more expensive at certain levels – source MoneySupermarket.com (June 2010):

ClearCash Cheque cashing service is £4.50 for cheques being cashed up to the value of £250.00 and cheques will clear within 7 working days.

The ClearCash Cheque cashing service is provided by e-Panurgy Ltd.

Payment Card Solutions (UK) Ltd operates the ClearCash solution in conjunction with their partners Quantum Card Services Ltd. The ClearCash prepaid MasterCard is issued by Newcastle Building Society

Prepaid MasterCard providers ClearCash launches a new Pay As You Go option as an alternative to its award winning Pay Monthly card.

Launched following customer feedback, the new ClearCash tariff gives clients the option of only being charged when they actually use the card.

Samuel Mond, Operations Director for the card explains,
“For regular card users, the Pay Monthly card saves a considerable amount of money as there are no UK transaction charges. For people who just want to use the card for a specific purpose, Pay Monthly isn’t the most cost effective option. ClearCash’s new Pay As You Go card gives everyone the option to choose what’s best for their own financial circumstances.”

The Pay As You Go ClearCash Card costs £4.50 - £5.00 (depending on whether you purchase using card or SMS) and has no monthly fee at all. UK transaction fee is 2.5% and ATM withdrawal fee of £0.75.

Pay As You Go clients will also have FREE access to the ClearCash BudgetMaster, specially designed to help users budget their income and stretch their spend so it becomes the most effective use of their money. Users can also purchase a year’s worth of Purchase Protection offering cover up to the value of £1500* at a cost of 83p per month – currently free with the pay monthly card option.

© 2010 ClearCash Limited, Nelson House, Park Road, Timperley, Cheshire, WA14 5BZ: Registered in England No. 2441375. Account opening fee payable. Proof of identity will be required. The ClearCash prepaid MasterCard is operated jointly by Payment Card Solutions (UK) Ltd and Quantum Card Services Ltd. MasterCard is a registered trademarks of MasterCard International Incorporated. The CARD is issued by Newcastle Building Society ("NBS") pursuant to licence by MasterCard International Inc. NBS is authorised and regulated by the Financial Services Authority as an issuer of e-money (registration no. 156058).

Notes to editors:

*Purchase Protection Insurance is offered free of charge to ClearCash Pay Monthly clients and at a rate of £10 per year to Pay As You Go clients. This Insurance is an annual cover, and therefore must be renewed at the end of the 12 month contract should clients wish to extend it.
Full details of the Purchase Protection Insurance offered are below:
30-day Purchase Protection
Theft and Accidental Damage coverage for any item with a value greater than £50 purchased on your prepaid card in the UK for 30 days from the date of purchase (secondary coverage only).
Repair or replacement
£1K single item limit, £10k for any one event, £25K annual limit
Exclusions do apply
30-day Price Protection
If you make a purchase on your prepaid card in the UK and then find the same item at a cheaper price at any retail store anywhere in the UK then the policy will refund the difference. You must discover the cheaper price within 30 days from the date of purchase.
Claims for items less than £25 and greater than £250 excluded
Exclusions do apply
Extended Warranty
12 months mechanical breakdown coverage beyond the manufacturer's warranty on domestic electrical goods purchased in the UK on the prepaid card.
Repair or replacement
£1K single item limit, £5k annual limit
£50 excess
Exclusions do apply

The Cashplus prepaid card is now exclusively free with Compare Prepaid.

You can now get a Cashplus Active account with no application fee just by initially topping up your card with £20.00. This will save you paying the £9.95 or £4.95 application charge.

With so many prepaid cards now on the market it is hard to work out which is the best prepaid card to get. By getting the no application fee Cashplus card you can try out your card without any initial cost, Spend the amount on the card and if you don’t like it simply do not add any more funds to it.

So why get a free Cashplus card?

First and foremost it’s a gold card so it comes with payment protection on every purchase you make.

You can also opt for the free CreditBuilder with Cashplus active, where if you pay the monthly fee for 12 months, CreditBuilder will report this to credit reference agencies, which can help you, increase your credit rating.

Based on a recent survey conducted by Cashplus this has helped thousands of people increase their credit rating and in some cases by up to 40%.

With a Cashplus card you are guaranteed to be accepted with no credit checks and no application fee, just initially top up your account with a minimum of £20 and you are ready to go.

http://www.compareprepaid.co.uk/reviews/cashplus-prepaid-card-review.html

Bank account customers should be offered ‘safe haven’ accounts that garentee their money is only being invested in safe assets.

That is one recommendation from the Future of Banking Commission founded by consumer body Which? and led by MP David Davies.

It has released a report suggesting that these accounts would give better protection to customers.

The panel says it is ‘unacceptable’ that people’s savings are put at risk without their knowledge.

It has also called for banks to be stopped from paying commission to staff for selling products in an attempt to avoid ‘mis-selling’.

The growth forecasts for the UK economy have been slashed as the government's new independent watchdog has reassessed the figures in light of the damage caused by the recession.

The Office of Budget Responsibility has downgraded the expected growth in the UK economy to just 2.6 percent for next year, that's down from the previous prediction of 3.25 percent.

However the watchdog also found that public borrowing would be lower than expected and that unemployment would begin to fall.

With the economy still in turmoil it's more necessary than ever to make sure that you make the most of your money.

At Compare Prepaid you can find the best deals on credit cards, bank accounts, prepaid cards and even get away from it all with a prepaid travel money card.

Credit card customers could be paying out more, because banks are charging shops too much for accepting their payments.

That’s the view of the British Retail Consortium (BRC).

It says banks charge up to 17 times more for retailers accepting payment by credit card than it does for cash payments.

An average cash payment costs a shop 2.4pence, paying on a debit card will cost 8.5 pence while transactions of credit cards cost on average 34p according to the industry body.

It believes customers could save a total of £480m if lower charges were introduced and passed on.

BRC is calling on the government to look into the situation.
Director general Stephen Robertson said: "With payment technology and efficiency developing, card charges should be going down not up.”

Holiday makers taking their car to the continent are being urged to think tactically when deciding where to fill up their petrol tank.

A new survey by the Post Office has found that there while prices in general have rocketed across the content, careful planning can still save motorists money.

While Spain remains relatively cheap compared to the UK, France has seen prices soar so much that motorists travelling through the East of the country may be better to cross into Luxembourg to refuel.

For diesel drivers filling up is likely to be cheaper all across Europe, unless they happen to be visiting Norway, Europe's most expensive driving destination.

Wherever you're headed make sure that you don't get stung by fluctuating exchange rates.

With a prepaid travel money card you can make sure that you lock in the very best exchange rates. Find the one that suits your needs best by searching here at Compare Prepaid.

The nations savers, already hard pressed by low interest rates, have taken another hit as banks and building societies have withdrawn some of their highest paid ISAs and savings accounts.

According to the Daily Telegraph the shake-up is a result of the coalition government's announcement that the country's finances are in an even worse state than expected.

It's also been brought about by a readjustment in the way the banks raise funding on the international markets.

The move means that savers looking for a decent home for their cash will have to search carefully to make sure they get the best deals.

You can search and compare all the best ISAs and savings accounts here at Compare Prepaid and make sure that your money is working as hard as it can for you.

A consumer group is calling for the government to do more to address the needs of people that do not have access to mainstream banking.

According to Consumer Focus, nearly a million people do not have access to a bank account and the advantages that go with it.

The group says that it means they are unable to take advantage of the discounts available through paying by direct debit and buying over the internet.

If you don't yet have a bank account or if you want to switch to a better one, then why not visit our bank account section?

You can then compare all the different options and find the best bank account for your needs.

New research has found that the number of paid-for current bank accounts has overtaken the more traditional free bank accounts for the first time ever.

According to personal finance researchers Defaqto there has been a 94 per cent rise in packaged bank accounts over the last four years.

These accounts usually offer consumers additional benefits such as free travel insurance and breakdown cover and often offer other advantages such as lower overdraft fees.

You can get a full comparison of the ever increasing range of bank accounts available at the bank account section here at Compare Prepaid, where you can find the perfect bank account to suit your lifestyle.