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Feb 19
2011
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O2 offer new prepay Visa cardPosted by sharkey in Visa PayWave , Visa , ruby money , ruby card , online payments , MBNA , Mastercard PayPass , MasterCard , ireland , 3V voucher |
Telefónica O2 Ireland Ltd. have recently announced their O2 Money Card, a prepaid Visa (debit) card which customers can purchase at O2 shops nationwide for €4.99. We have reported on similar products in this space on the Irish market, in particular Rubycard, MoneyBookers and the Dublin City Gift Card, both prepaid Mastercards.
The important factors for these products are always the ease of access to top-up facilities, costs and how widespread the acceptance of the cards are as payment mechanisms. Being backed by credit card companies, the prepaid Visa card is accepted wherever you see the Visa sign and similarly the Mastercard endorsed cards are accepted wherever you see the Mastercard logo. The costs however tend to vary widely, see our other posts about prepaid Mastercards from Dublin City Business Association and Tuxedo Money.
To buy an O2 Money card for €4.99; you need to be 18 years or older, have an Irish registered mobile phone and you need to place minimum €20 on the card (maximum €150).
Checking your balance
The balance on the card can be checked by:
- Texting the word 'BALANCE XXXX' to 50280 where XXXX is replaced by the last four digits of the 13-digit customer number imprinted on the back of every O2 money card; or
- Signing into your O2 Money card account online
Topping up the card
Transferring funds from your bank account appears to the the most cost-effective method offered. As with any bank transfer, it may take 3-5 days to process. The cost of the transfer is deducted from the amount transferred and the maximum you can transfer in one day is €350. These transaction costs apply:
€20.00 - €59.99 charge €0.80
€60.00 - €99.99 charge €1.25
€100.00 - €159.99 charge €1.70
€160.00 - €350.00 charge €2.55
Two other methods are available, both subject to the same topup costs. Topping up in an O2 store or at a Payzone outlet should make the new balance available on the card ten minutes later, however O2 do recommend retaining the receipt for up to 24 hours just in case. These transaction charges apply:
€20 - €50 charge €0.99
€60 - €90 charge €1.49
€100 - €150 charge €1.99
€160 - €350 charge €2.99
There are other charges and limits that apply, for example ATM withdrawls and moving money to another O2 card are charged at €1 per transaction; replacing a lost or stolen card or moving money back to a bank account is charged at €5; if you use the card as a credit card Government stamp duty (€2.50, once per 12 month period) will be charged and if you use the card in an ATM a second stamp duty applies (Again €2.50, once per 12 month period).
Do you use a prepard Visa or Mastercard? We'd love to hear your comments below!
Ultan.
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My previous blog post about the Ruby Card prompted some discussion about the benefits of 
