Loaded Card - Prepaid debit VISA (step up from a Prezzy Card)

By tonyhughes Hughes, in , posted: 27-Mar-2008 17:26

In a previous post, I was unhappy about not being able to use a prezzy prepaid card to top up my Trademe account.

I have just recieved and activated my new Loaded Card. Same concept as Prezzy, but a reusable card you can top up, and has your name instead of "PREZZY CARD HOLDER".

Just successfully topped up my Trademe account with it.

I was a little disappointed that a card topup from a Kiwibank account does not happen instantly - it seemed to take a few hours.

The fees on Loaded Cards are astronomical if you do anything out of the ordinary - so check and understand them well first!

Also noted that dropping the "www." off the www.myprepaid.co.nz account information site results in a failed attempt to get to their site. Come on people - www. is redundant these days, allow dropping it to still reach a web server at that domain!

Also, why have the main loadedcard.co.nz site, and a seperate domain for cardholder services. Its just encouraging people to think its okay to go to different domains and enter precious info - exactly what the entire planet is trying to avoid. (Think phishing scams).

More information

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Comment by chakkaradeep, on 27-Mar-2008 17:46

And another thing to note is that their Apply page still says "Sorry, Service not available online!" for a long period of time!

Comment by DigiDog, on 27-Mar-2008 18:35

Have you noticed that most Government sites also require the WWW these days. Whatever happened to simple domain aliasing?

Comment by TheBartender, on 27-Mar-2008 21:05

'The fees on Loaded Cards are astronomical if you do anything out of the ordinary'

Thats why I wont bother with such cards...
I have a Westpac Debit card.

Westpac's Debit card is perfect, no additional costs, accesses bank account holders chosen account just like a ATM/eftpos card...but with all the convenience of a credit card (for online shopping)....and better yet, no need to fart around with top ups!

Comment by manhinli, on 27-Mar-2008 22:04

The fees on Loaded Cards are astronomical if you do anything out of the ordinary

I picked up the brochure about 2 weeks ago...

I was completely shocked!

Some very shocking ones:

$1/per reload
$5/per month applies when inactive for 6mths
$10/year for an account

Westpac's Debit card is perfect, no additional costs, accesses bank account holders chosen account just like a ATM/eftpos card...but with all the convenience of a credit card (for online shopping)....and better yet, no need to fart around with top ups!

I seriously like them too... but I'm not switching (or joining another) bank just for that!

The Loaded card doesn't require an attached bank account (although it supports linking with kiwibank)

Comment by James Sleeman, on 29-Mar-2008 13:00

Definately agree on the fees.  A simple annual fee I can understand, but to charge that AND to charge for reloading, and to charge for inactivity, and to not even pay interest on the balance held.... wot a rip.


Comment by Raj, on 21-May-2008 13:43

Good god!! Loaded card is such a pile of crap! I applied for it on 24th April 2008. They sat on their lazy butts for 9 days and did not even inform me that my address verification was not ticked on the application. This was done on the 5 May 2008 and its 21st now and all they keep telling me that the card is ready to go and will be mailed out soon. I should be expecting it in 5-7 days! They do not even have a proper customer service number, only an email where u can write to. There is no way of interacting with this company!! Now that I am fedup with the entire process, I want to cancel the account, I actually have to write a letter requesting a cancellation!!! Take my suggestion and avoid loadedcard at all costs. Their business structure sucks and is a big pain in the ass!!! Hope this helps!!

Author's note by tonyhughes, on 21-May-2008 13:57

Constructive comments there Raj. I have been very happy with the whole process. Its been great, and pretty painless.

Fantastic insight there, into the business structure that "sucks" and is a "big pain in the ass!!!"

Comment by ricky, on 26-May-2008 20:11

I agree with the comment on the fees,but I only wanted a loaded because i am to young(15)for a real credit card,but why do you have to pay for loading the card and other things its horrible but I will stick with it.Dont know how much longer though?

Author's note by tonyhughes, on 26-May-2008 20:23

You have to pay, because they need some way of making money LOL. Simple business. They make money on credit cards by charging massive interest rates, but because this is debit, people cant get into debt, and cant incur interest, therefore the money needs to be recouped through fees.

Comment by Sergeant Noodle, on 3-Jun-2008 16:17

Westpac Debit card costs 10$ annually and: "When you use your Westpac ATM/EFTPOS or Debitplus Visa card to make an overseas transaction, you'll pay a foreign currency fee. This fee is made up of two parts: a portion charged by Westpac (currently 1.50%) and a portion charged by the credit card scheme that processes the transaction, i.e. MasterCard (Westpac or Active debit card) or Debitplus Visa card." But thats still better than loaded.. right?

Comment by Anne Pereira, on 26-Jun-2008 20:16

I agree that the business structure for loaded is unprofessional. I waited 2 weeks, emailed endlessly for a phone number went back to post shop and they rung through the problem was I didn't have confirmed home address but nobody bothered to let me know. Eventually they received this and still took 5-10days in the end I cancelled and still had to wait for my funds to be deposited back into my account.

Comment by Jesse, on 24-Sep-2008 14:38

I think the loaded card is a good idea, Its useful if you cant get a normal visa for some reason. As for the fees, i used to have a westpac debit plus card and I had to pay $10 a year, and everytime i used it, I was charges $3. And when I put money into that account (By Teller) I got charged $3. So in all, i dont mind paying the $1 per re-load and the usual $10 a year.

Comment by Shane, on 4-Dec-2008 10:19

I am just dealing with loaded card over some payments I didn't make and associated conversion charges etc. I have just emailed them cause calling them costs and await contact over this matter. will let you know. At this point I have contacted Kiwibank who support and promote this product but one has to deal with the loaded card people to do anything or get any info. We shall see

Comment by Lee, on 3-Apr-2009 23:54

I seem to disagree with most people in these comments. I have a Loaded card and LOVE it. I have had no problems with it and great customer service. I dont think the fees are high ( they have to make money, it is a company, not a charity) and it stops me getting into debt ( like I did with my standard visa card!!) I dont want to join another bank just for a visa debit card and this account isn't joined to anything. I only spend what I have loaded and cant get overdrawn. It is a win win situation for me. Nothing is perfect!! Wouldnt it be a boring world if everything was!

Comment by rezwan faisal, on 21-Apr-2009 06:01

i am a safety officer of al habtoor enginerring. my gross salary is3500aed and basic is 2500 aed. i am interested for prepaid credit card

Comment by Ira, on 26-Nov-2009 10:17

Hi there, I recently purchased a loaded prepaid visa card from NZPost. I wanted to activate my paypal account. It said on the website that it could be used on paypal. Hence my reason for purchasing it for $16.00. Cancellation fee $15.00. So because I couldn't activate it, it was going to cost me $15.00 to cancel it. Wow! Is this common practise today..MRS AGITATED...

Author's note by tonyhughes, on 26-Nov-2009 10:28

If its not fit for the purpose for which it is sold, and it is sold for consumer purposes, then its a breach of the CGA, and you are entitled to a full refund.

Don't get agitated, research your rights, and ask for a refund.

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