Thursday 9th November 2006
High-street bank Halifax has noted that a pre-paid credit card comparison points towards its Easycash account as a sensible alternative.
The bank claimed that its account can provide protection not present with pre-paid cards, such as guarding against loss and safeguards in the case of a dispute with a shop or service provider.
Halifax also recognised that operating fees attached to pre-paid cards can soon mount up, whether they are charged as a percentage of transactions or as a fixed fee when loading the card with cash.
Paul Marriott-Clarke, head of banking at Halifax, said: "Pre-pay cards may seem like the answer for someone without a bank account but they can be very costly."
"A basic bank account, such as Easycash, is by far the better option for those who have struggled to get a bank account previously," he added.
Easycash offers customers access to their account at post offices and at any of the UKs 50,000 Link cash machines.
The news follows an announcement last week by 3V Transaction Services that it was launching a new Visa pre-pay card available to anyone over the age of 16.
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Halifax bank is one of the more recognisable banks on the high street and offers a credit card called the Halifax One Card.
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