The Sun launches pre-payment MasterCard
Tuesday, 11 Sep 2007 16:19
The Sun is launching a pre-payment MasterCard in association with Newcastle Building Society and Tuxedo Money Solutions.
The newspaper claims the 'pay as you go' payment card will help readers "combat the growing problem of credit".
The card can be topped up at PayPoints across the UK with no charge until March 2008, by bank transfer or directly from wages. Charges for PayPoint top-ups from March have yet to be disclosed.
The card costs £6.49 with £5 cashback returned when the first £10 is loaded on the card.
Withdrawals from cash machines come with a 1.5 per cent charge (99p minimum, £1.50 maximum) and purchases are charged at 2.95 per cent (50p minimum, £1.50 maximum). Non UK ATM withdrawals come with a standard £2.25 fee.
Last October, the Daily Mirror launched its own pre-pay card, Quidity. Tesco is also thought to be launching a similar card.