topic o2 Money. in Discussions & Feedback

o2 Money.

Anonymous — Fri, 21 Aug 2009 21:16:28 GMT

Hi

I know the two o2 prepaid cards are pukka, and indeed have requested one.

I am curious to know however why they do not seem to carry the Visa hologram, just the Visa logo?

o2 Money.

perksie — Fri, 21 Aug 2009 21:42:10 GMT

Why do you need a hologram?

It serves no purpose.

I have a couple with no hologram.

Still think they are a great idea, waiting for mine now.

o2 Money.

Anonymous — Fri, 21 Aug 2009 21:53:24 GMT

Why do you need a hologram?
It serves no purpose.
I have a couple with no hologram.
Still think they are a great idea, waiting for mine now.

Hello Perksie,

I don't "need" a hologram.

I was just interested to see if any members of the forum had banking knowledge and could advise why some cards do and some don't

o2 Money.

perksie — Fri, 21 Aug 2009 22:48:27 GMT

The holograms were brought in originally to give shop assistants the ability to tell if a card was "genuine".

We now know that is a waste of time.

Most transactions are now done by a machine, which cannot read the hologram.

The magnetic strip and chip supply all the information required.

Some card issuers still use them of course but I think they will disappear in time.

o2 Money.

Anonymous — Fri, 21 Aug 2009 23:12:57 GMT

That makes sense, thanks for the reply Perksie.

o2 Money.

perksie — Fri, 21 Aug 2009 23:23:12 GMT

Good luck.

o2 Money.

Anonymous — Sat, 22 Aug 2009 10:37:07 GMT

I've ordered mine - It looks very handy.

I'll be all cash managed soon

o2 Money.

perksie — Sat, 22 Aug 2009 13:20:38 GMT

Mine arrived this morning, just got to activate and load it up, then get out there and speeeeeennnnnnd!

o2 Money.

perksie — Sat, 22 Aug 2009 15:44:57 GMT

I can still do that.

Now though I don't need to carry cards with me that I can't afford to lose.

My main personal cards, debit and credit will stay at home.

I will only carry the O2 Card and one for business, brilliant!

I rarely carry much cash, so this is a good idea for me.

As you said the anti-copying idea was only good if the average shop assistant could tell the genuine hologram from a fake one.

Not easy in a busy store.

I think this type of card will become more popular.

Remember when American Express cards came out, you had to pay the balance each month and I think it was a £24 or so annual fee for the privilege.

No fees on this one.

o2 Money.

Anonymous — Sun, 23 Aug 2009 13:56:12 GMT

A lot of credit/debit cards also have security markings which come up under a UV light.
If you've already got a Visa debit card, I really don't see the value in this product, to be honest. Why bother with the extra faff of pre-loading the card? The 'security' arguments are pretty bogus as both types of card could incur fraudulent use, and in both situations it would be the card issuer's liability. I also don't see how you'd manage the cashflow if you used it for business purposes as most companies pay expenses in arrears - which if you're working away from home could mean you having to front £2k-£4k of your own money every month. (Could O2 Money even support that?)

Of course, if you can't get a Visa card then it's a nice idea... But you might as well just switch to a bank that will give you one.

NB: Perksie, I don't pay for my AMEX, but to be honest I probably would pay £24 a year for their superb customer service. Not sure I'd say that about O2 / NatWest.

o2 Money.

Anonymous — Sun, 23 Aug 2009 16:21:24 GMT

I think these type cards have two main advantages over ‘full blown’ credit and debit cards. I also think they are in no way intended for business use.

The first advantage is that there are a lot of people who, for whatever reason are not accepted as ‘credit worthy enough’ to be issued a credit or Visa debit card.

This and other pre paid cards allow non credit card holders to shop online and not to have to carry cash all the time when they may not feel safe doing so. I have several friends who whilst they have a bank or building society account ‘only qualify‘ for an ATM card that cannot be used on the net or over the counter.

The second group of people to whom this type of card will appeal is to those that do have access to full credit and debit cards but do not want to carry them around all the time. I have several Mastercards and Visa cards however I have applied and received the O2 card as I will use it in situations such as using it to order from an internet site I have never used before or if I go out in the evening, especially in a new area.

In either of the two above situations if it all goes t*t’s up, and the card is lost and used by someone else before I have noticed or is cloned, all I have lost is my money loaded onto the card and not my bank balance and credit limit!

I know banks and credit companies will refund if proved the card has been used fraudulently and the card was canx in a reasonable period, but why take the risk in the first place ?

And no, I don’t work for O2 Money, this is just a general reply to some of the posts.

o2 Money.

perksie — Sun, 23 Aug 2009 22:22:34 GMT

Nicely put Rasputin.

Those who don't like the idea --- well they're not compulsory are they?

So if you don't want one, don't have one.

o2 Money.

Anonymous — Sun, 23 Aug 2009 22:44:36 GMT

Nicely put Rasputin.
Those who don't like the idea --- well they're not compulsory are they?
So if you don't want one, don't have one.

Thanks Perksie, my feelings exactly.

Re: o2 Money.

perksie — Tue, 25 Aug 2009 12:50:41 GMT

Hi
I know the two o2 prepaid cards are pukka, and indeed have requested one.
I am curious to know however why they do not seem to carry the Visa hologram, just the Visa logo?

It does, it's on the back.

o2 Money.

Anonymous — Tue, 25 Aug 2009 13:10:51 GMT

Hi perksie,

You are so right!

I can rest easy now

o2 Money.

perksie — Tue, 25 Aug 2009 14:20:26 GMT

I can't.

Went to the O2 Money site to load it up, and it doesn't work, I have spoken to them and they have had some problems and are getting back to me. 😐

I think it doesn't like the Maestro card that I intend to use it with. :robotsad:

o2 Money.

Anonymous — Tue, 25 Aug 2009 15:45:32 GMT

I have ordered my card too! Think it is excellent as I should now be able to start saving as I'll only use the o2 card for shopping and petrol, then keep my normal card at home. The cash manager is excellent as I now have a better idea of my bills each month, however my phone bill is always different so I only put a base of what it should be. Card should arrive in time for pay day too! Does anyone know if the transfer is automatic or do you need to wait a few days?

o2 Money.

perksie — Tue, 25 Aug 2009 17:34:03 GMT

You do it yourself on the website and it's pretty well immediate.

You can do one off transfers or set up a regular one.

Full instructions with the card and when you log in.

The only snag is it won't work for me. :robotsad:

o2 Money.

Anonymous — Tue, 25 Aug 2009 19:24:39 GMT

Why does it not work? Thats good it is pretty instant. Hope that it does work for me otherwise it is a waste of time me applying for one.

o2 Money.

perksie — Tue, 25 Aug 2009 19:48:41 GMT

It may just be my Maestro card, but that's the one I want to use, so if they can't fix it the O2 card will go.

I have used cards on-line since 1995 without a problem, so I am a bit disappointed but I can live without it.