o2 Money.

[Anonymous]

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?

[perksie]

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.

[Anonymous]

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

[perksie]

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.

[Anonymous]

That makes sense, thanks for the reply Perksie.

[perksie]

Good luck.

[Anonymous]

I've ordered mine - It looks very handy.

I'll be all cash managed soon

[perksie]

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

[perksie]

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.

[Anonymous]

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.