New Sainsbury Money Card
SAINSBURY’S LAUNCHES PREPAID MONEY CARD
- New cards allow Sainsbury’s shoppers the option of convenient spending and cost effective foreign purchases
SAINSBURY’S launches the MasterCard Prepaid Money Card in store this month. Ideal for managing payments and bills in the UK and a convenient and secure alternative to traveller’s cheques and cash whilst abroad, the Sainsbury’s Money Card can be used wherever consumers see the MasterCard Acceptance mark.
There are two cards on offer in Sainsbury’s stores. The Sainsbury’s ‘Travel’ Money Card allows holiday makers or business travellers to load either US dollars or Euros onto the card at a fixed exchange rate. This means that on return from a trip there are no surprises. The currency is pre-purchased and loaded onto the card for security and convenience. The Sainsbury’s ‘Everyday’ Money Card assist with day-to-day spend in the UK. It allows spending wherever MasterCard is accepted, for example online, for bills or for grocery shopping.
Sainsbury’s shoppers can simply purchase a ‘Travel’ or ‘Everyday’ registration card in store for £9.95 (refunded with an initial top-up of £500 or more), activate the Money Card account online and top it up with funds. There are no credit checks and the whole process takes a few minutes.
Partnering with prepaid card service provider Tuxedo Money Solutions and issuing bank Newcastle Building Society, Sainsbury’s Money Card offers its customers the eccount facility where funds are safely held and released to their cards. The eccount® and card balances can be checked 24 hours a day and can be instantly blocked or canceled if it is lost or stolen.
The Sainsbury’s Money Card is an easy way to stay in control of spending. The prepaid card looks just like a credit or debit card, with a card number, chip & pin capability and signature strip. Unlike credit cards, which provide a line of credit and debit cards, that are linked to a bank account, a prepaid card only allows shoppers to spend the amount they have loaded - helping them stay in control of spending.
Compare Prepaid Money Cards
If you are interested in applying for a travel money card to either use on holiday or for everyday budgeting compare the market for the best deals.
MasterCard® is accepted at over 30 million locations worldwide including 1.5 million ATMs
What is a prepaid card?
A prepaid card works like a debit card, except it is not linked to a bank account. Money needs to be loaded on to the card before any purchases can be made. The Sainsbury’s Prepaid MasterCard is fully regulated, and is subject to KYC (Know your Customer) which ensures that the applicant is over 18 and has a UK address.