A new prepaid Mastercard has been launched by Virgin Money, to complement their existing credit card offerings and other financial services. The card, which is issued on behalf of PrePay Technologies, will cost an initial set-up fee of £9.95 plus a 2.95% fee on each transaction.

Unlike many other prepaid cards, there is no fee for topping it up if you do so by direct debit, direct transfer, or at a Post Office counter, and there’s no annual or monthly fee.

Virgin are marketing the card as a risk-free way of enjoying the benefits of a credit card without the prospect of running up debts.

This entry was posted on Thursday, July 5th, 2007 at 2:06 pm and is filed under New Cards, Prepaid Cards. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.