Should you get a prepaid card?
Prepaid cards offer a safe, convenient way to pay for things, and give you control over your finances - but they can also come with hidden costs. Here’s everything you need to know about prepaid cards for spending at home and abroad.
What are prepaid cards?
It’s a type of payment card that you pre-load with money. Unlike a debit or credit card, it’s not linked to a bank account.
Once you’ve topped it up however, you can use your card in the same way you would spend with a debit or credit card - you just don’t have an overdraft, and you are not borrowing money.
Depending on the card, you may be able to:
Prepaid cards are ideal if you don’t have a current account, and need a secure way to spend online. They’re also popular for spending abroad, budgeting and to help children and teenagers manage their money.
In Ireland, prepaid cards are usually issued by banks or e-money institutions rather than traditional current account providers. This affects how they’re regulated and the level of consumer protection they offer compared to debit or credit cards.
Most prepaid cards are issued on the Mastercard or Visa network, so you can use your card anywhere you see the Mastercard or Visa acceptance marks.
What’s the difference between a prepaid card and a debit card?
Debit cards are linked to a current account and are protected under bank account regulations, while prepaid cards are not linked to a bank account and generally offer more limited consumer protections.
Other differences include:
How do prepaid cards work?
Once you’ve received your prepaid card, you can add money to it and use it as you would a debit or credit card, though you are not borrowing money.
You are in control of when and how you spend your money, for example:
If you add €500 to your card, you can use it to shop online, at a restaurant, or to pay a utility bill at your own leisure. You can add more money to your card at any time, too.
Adding money
Once your prepaid card is set up, you’ll need to add money before you can start using it. How you top up will depend on the card provider, but common options include:
- By transferring money directly from your bank account
- Using your debit card on the prepaid card issuer’s website or app
- With cash at selected retail locations, such as Payzone points across Ireland
Top up limits
How much money you can add to a prepaid card varies depending on the provider and the type of card you choose. In general:
- Card issuers usually set a maximum annual limit and a cap on individual top-ups.
- Your limits may increase over time, or after completing additional identity checks, depending on the provider.
- Top-up limits can also differ based on the method used, such as bank transfer, debit card, or cash deposits.
Checking your balance
The simplest way to check your balance is via your card issuer’s linked smartphone app, where you can manage your prepaid card, view transactions, check your balance and top up. You can usually also check your balance on:
- your card issuer’s website
- at an ATM
- by text.
How much do prepaid cards cost?
Prepaid card costs can be complex and card issuers have different fees and charges, so it’s worth shopping around to find the one that works out cheapest for you.
Here’s are some of the different charges you may encounter:
Common fees to watch for
In addition to standard charges, some prepaid cards come with fees that are easy to miss.
Depending on the provider, it’s worth checking for:
- Inactivity fees: Some cards charge a fee if the card isn’t used for a set period.
- ATM withdrawal fees: Cash withdrawals can be costly, especially when travelling.
- Declined transaction fees: You may be charged if a payment is attempted without enough balance.
- Account closure or dormancy fees: Charges may apply if the card isn’t used for a long time.
Always review the provider’s fee schedule before applying to avoid unexpected costs.
Some prepaid cards may stop working or incur charges after long periods of inactivity.
Where can you get a prepaid card?
There are lots of different prepaid card issuers in Ireland. New digital providers are popping up all the time, but not all of them are licensed by the Central Bank of Ireland.
Here’s a look at the main providers in Ireland and what they offer:
| Name of card issuer | What’s on offer? | Best for… | |
|---|---|---|---|
| An Post | Prepaid travel and currency card for spending abroad | Spending abroad, | |
| Bunq | Digital account with a Mastercard debit card that must be funded in advance | Spending abroad | |
| Cheetah money | App-based prepaid Mastercard aimed mainly at business and international use | Payments worldwide, Businesses | |
| Neteller | Online wallet with a prepaid Mastercard for digital and online payments | Transaction rewards | |
| Makes Cents | Prepaid card designed for children and teenagers, with parental controls | Children and teenagers learning about money management | |
| Skrill | Digital wallet offering a prepaid Mastercard, commonly used for international transfers | Buying cryptocurrency, Transaction rewards | |
| Swirl | Prepaid or travel cash card available from selected Irish retailers | Easy availability. Simple to buy, load & use worldwide |
Availability, fees and features can change over time, so it’s worth checking the provider’s website for the most up-to-date information before applying.
Some prepaid card issuers also offer extra financial services, whilst others design their cards for specific purposes like currency cards for spending abroad or for children and teens to manage pocket money.
How do you apply for a prepaid card?
To get a prepaid card you don’t need a current account or a credit check. Just supply your basic personal and contact details to the card issuer and you’ll be sent a card in the post.
Some providers also offer the choice of a ‘virtual card’ that you use on your smartphone.
Do Mastercard offer prepaid cards?
While you can’t buy directly from Mastercard, all prepaid cards in Ireland are processed by Mastercard and sold by different card issuers - for example An Post or Bunq. You can use your card anywhere you see the Mastercard Acceptance Mark.
Can you get a prepaid gift card?
Yes, card issuers like AllGo and Clever Cards are geared toward gifting, especially for small businesses and corporations who wish to reward employees with options of up to €1,000 or more tax-free.
Do you have to be 18 to apply?
No, there are some prepaid cards that are designed especially for children and teens. The application will need parental consent if you’re under 18 years of age.
For example, The Makes Cents prepaid card for 8-18 year olds allows parents to manage and monitor their children’s expenses via an app.
Can you get a prepaid card with bad credit?
Yes, you can. You don’t need to be credit checked for a prepaid card as you would to apply for a current account or credit card.
You may still have to undergo identity and age checks though.
Prepaid card pros and cons
The greatest advantage of a prepaid card is the flexibility and control it gives you over your spending. You don’t need to apply for a current account and you can even get a prepaid card with bad credit.
Here are the main pros and cons of getting a prepaid card.
Pros
Cons
Prepaid travel cards
Prepaid travel cards are designed for spending abroad and can be a useful alternative to carrying cash or using your main debit or credit card overseas. You load money onto the card in advance, helping you manage your holiday budget and keep everyday finances separate.
Fees, exchange rates and features can vary by provider, so it’s worth checking the details before you choose a card.
Benefits may include:
- Use in many places that accept Mastercard or Visa
- Option to load foreign currency before you travel
- Protection against unauthorised transactions
- Access to your balance via an app or online account
- A simple way to track spending while you’re away
Prepaid travel cards are available from selected Irish providers, including An Post. For more options, see our guide to Travel money & the best ways to spend abroad.
Prepaid cards, gift cards, vs virtual cards
The terms prepaid card, gift card and virtual card are often used interchangeably, but they refer to different types of payment cards with different features and limitations.
| Card type | What it is | Best for | Limitations | |
|---|---|---|---|---|
| Prepaid card | A reloadable payment card you add money to in advance | Budgeting, online spending, everyday purchases | No credit, limited protections, may not work for deposits | |
| Gift card | A one-off card with a fixed balance, usually bought as a gift | Gifting or one-off spending | Not reloadable, often restricted to certain retailers | |
| Virtual card | A digital-only card used for online or app payments | Online shopping and added security | Can’t be used in-store or at ATMs |
Should you get a prepaid card?
Prepaid cards have clear advantages and disadvantages, and they can be a useful option in certain situations.
If you’re considering one, it’s important to think about how you plan to use the card and what costs may apply.
When choosing a prepaid card, consider the following:
Is a prepaid card right for you?
Before applying, it’s worth considering whether a prepaid card suits your needs at all. While they can be convenient, they’re not designed for every type of spending.
A prepaid card may suit you if you:
A prepaid card may not be the best option if you:
If you’re still unsure, comparing prepaid cards with debit or credit card options can help you decide which type of card best fits your needs.
What prepaid cards don’t work well for
While prepaid cards can be useful in certain situations, they’re not designed for every type of payment. In particular, prepaid cards may not work well for:
If you expect to use a card for any of the above, a debit or credit card may be a more suitable option.
Alternatives to prepaid cards
If prepaid cards aren’t right for you, it may be worth checking which banks offer a debit card with their current account, or considering a credit card instead.
There are also several digital finance companies operating in Ireland that provide online accounts with debit cards:
- N26 is a regulated digital bank offering online accounts with a debit Mastercard, managed through a mobile app.
- Revolut is an app-based account that lets you transfer, spend and withdraw money, with features for everyday spending in Ireland and abroad.
- Wise is a multi-currency account designed for international payments, with a debit card that can be used in Ireland and overseas.
Virtual Debit Card with Online Bank Account
Open a free N26 online bank account & get a virtual Mastercard debit card to use in store & online, accepted worldwide. T&Cs apply.
Prepaid cards FAQs
Can I use a prepaid card for shopping on Amazon?
In many cases, yes. Most reloadable prepaid cards can be used for online shopping on Amazon and similar websites.
However, acceptance can vary depending on the card and seller.
Some prepaid or gift cards may not work for subscriptions, digital services or repeat payments, so it’s worth checking the card terms before using it online.
Is my money safe on a prepaid card?
Prepaid cards can be a safe way to spend money, particularly for online purchases or budgeting. Most providers allow you to freeze the card through an app or online account if it’s lost or stolen.
However, prepaid cards don’t offer the same level of protection as debit or credit cards, and consumer protections can vary by provider. For this reason, it’s important to choose a reputable issuer and understand what safeguards apply before loading money onto the card.
Are prepaid cards the same as credit cards?
No. Prepaid cards are not credit cards. You can only spend money that you’ve already loaded onto the card, and there is no borrowing, credit limit or interest involved.
Although prepaid cards can be used in many of the same places as debit or credit cards, they don’t help build a credit history and offer different consumer protections.
Can I get a prepaid card with bad credit?
Yes. Prepaid cards don’t require a credit check, because you’re not borrowing money. This means they’re often available to people with poor or limited credit histories.
You may still need to provide proof of identity and age when applying.
Where can I buy a prepaid card in Ireland?
Prepaid cards are available from a range of providers in Ireland, including selected post offices, retailers and online card issuers.
Some cards can be purchased and managed entirely online, while others are available in-store. Availability, fees and features can vary, so it’s worth comparing options before choosing a card.
