Woolworths Money are offering no card purchase fee on their reloadable mastercard for facebook fans – thought I’d share it with you as I have one and it’s great for shopping online!
Woolworths Reloadable Prepaid MasterCard – No Card Purchase Fee
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I pay $1 a month, however they also gave me the option to pay $1 per load.
Product disclosure statement and Financial services guide
Fees and chargesPS: It looks like you only save $2.95 if the card purchase fee is waived. There is still a $10 card issue fee.
Card Purchase fee is $9.95 which is waived. I think you're referring to the $2.95 on the non-reloadable card
Ok. Still horrendous charges though.
I found it pretty competitive comparatively when i looked into it :)
You haven't looked enough then. Get a 28degrees card or a debit card.
Get a 28degrees card or a debit card.
they are not reloadable prepaid cards
What of that? The goal was to limit spending. A debit card will do that for you.
A prepaid card would be easier for someone with bad credit to obtain (than the 28degrees card).
I'm not sure what the goal is, but you're right, a debit card will do that.
And yet, this is what is written in both the product disclosure statement and schedule of fees and charges which are linked from the promotion page. Perhaps your web people need to have your legal people double-check things when they copy and paste the T&C boilerplate between pages.
Here are the "real" terms and conditions, only found after you go two steps into the application process:
https://www.everydaymoney.com.au/edm/static/images/money/PDS…So do tell us what differences you found.
I didn't notice it the first time I looked, but I now see that the last document on the list of documents you get by following the PDS link is actually the correct document. If it was there before, I guess I got confused by the difference between "Prepaid MasterCard Product Disclosure Statement" (the wrong one) and "Reloadable Prepaid MasterCard Product Disclosure Statement" (the right one).
The card purchase fee and card renewal fee on the list of fees are wrong, though (they're the prices for the non-reloadable card).
the fees are horrendous!
Why wouldn't you just get a very low limit card is you're that worried?from https://www.everydaymoney.com.au/edm/wps/portal/money/!ut/p/…
Reloadable Prepaid MasterCard
The following fees and charges may apply to your use of the Woolworths Everyday Money Reloadable Prepaid MasterCard:
Fee description
Option 'A' Option 'B'Card Issue Fee (One off fee when your card is issued to you)
$9.95 $9.95Load/Reload Fee
(Incurred every time you load money to your card)- $1Monthly Service Fee
(Incurred each relevant monthly period before your card expires, waived when you load $500 or more in that monthly period.)$1 -International ATM Fee
(Incurred when you withdraw cash from an ATM located outside of Australia using your card. The ATM Operator may also charge you a fee for using their ATM)$2.50 $2.50Card Renewal Fee
(Incurred when you renew your card)$4.95 $4.95Card Replacement Fee
(Incurred when you receive a replacement card)$4.95 $4.95Card Cancellation Fee
(Incurred when you cancel your card)$5.00 $5.00Overseas Transaction Fee
(Incurred for each transaction that is billed by a merchant located outside of Australia. Excludes ATM cash withdrawals)2.5% of the Australian dollar transaction value 2.5% of the Australian dollar transaction valueExpired Card Fee
(Incurred each month after your card expires until you cancel your card or the Available Balance becomes $0)$4 $4Doesn't sound that attractive once you read all those hidden charges. Thanks for bringing that to our attention.
if you are over 18, most banks offer a visa/mastercard debit card linked to a transaction account. you can only spend what you have in your account so you can't rack up any credit card debt.
You only have to be 16 years old these days, to get a debit MasterCard through the Commonwealth Bank.
These prepaid CC's make Paypal look like philanthropists!
I made you a turd sandwich. I think my sandwich is pretty competitive.
I have seen a trend here in Australia toward the marketing and issue of prepaid Visa and MasterCard cards – similar has happened in the USA over recent years.
These cards are often loaded with hidden fees – as is this one as someone has rightly pointed out. Not only that, you might even lose your money after some period of inactivity.
Steer clear of prepaid Visa and MasterCard cards. They are not worth the trouble.
If you want a card for online shopping use simply open a separate bank, building society or credit union account with attached debit card. There are many totally fee-free options.
I think the Australia Post Load & Go cards have no hidden fees etc - at least not that I could find. Just a once off payment I'm pretty sure.
Hmm that looks pretty bad, thanks for posting that
I'm sorry, but I don't see a bargain here…all I see is baiting a trap for the unwary!
deal scrapes lower than the pet-animal insurance (read policy booklet, really is useless) posted in the other thread
"I curse you woolworth's brand".
There is no bargain for all prepaid visa/mastercard in the market.
the question of why someone would use it should not be the consideration of whether or not this is a bargain. I've came across people who only want to use these cards, to give to a minor who might not be able to get a CC, someone with low credit rating, someone gave one of these as a gift (why not cash, i dunno, but they didnt want to give cash).
So given that there is a market out there, its fees and charges are low for the product.
Yes, but as this is OzB, people are going to point out that many people do have other cheaper choices.
Oh definately, there are always cheaper alternatives for everything. Im just saying if you compare apples with apples, this product is the cheapest out there.
In that case feel free to post deals for luxury items. While technically they may be a bargain for their class, they will probably be roundly ignored, as has happened here. (Notice I did not neg the deal since I agree it may be useful to some tiny fraction of the market.) In any case nobody gave any figures about other similar cards so I don't know if it's true that it's the cheapest of its (overpriced) class of products.
to give to a minor who might not be able to get a CC, someone with low credit rating, someone gave one of these as a gift
None of these are reasons to choose this over a conventional debit card. Is it not an anonymous stored-value card, but tied to the purchasers verified identity, and a contract.
You are happy to give your debit card as a gift? My brother will happily receive it for his wedding gift instead of the pre-paid CBA one he got. lol
Agree this is terrible value.
If you cannot get a 28degrees card (the best?), just get a free debit card.
e.g.
https://www.ingdirect.com.au/everyday/orangeeveryday.htmWhy would anybody choose a Woolworths card over that? Isn't the prepaid Mastercard just a really bad debit card?
This is a great card if you want to use pay at the pump for woolies and not have to worry about getting kids out of the car, no other card can do this with Woolworths as far as debit cards go.I have one for that reason. The odd $1 or so charge is nothing compared to convenience and safety.
Please do not drag your small children out of the car when paying for petrol.
They are much safer where they are. Unless you are a Columbian billionaire, and left your bodyguards at home.
What is it with all the paranoid helicopter parents these days?And which Ozbargainer ever buys petrol without using a discount coupon?
No point with this card, and it links up with EDRs so the discount is automatically applied. You might want to check want your trying to say because you are wrong when it comes to facts my friend :)
Re "Please do not drag your small children out of the car when paying for petrol. They are much safer where they are."
Leaving small kids unattended in a car is now an offence, haven't you seen all the advertisements about not leaving kids in hot cars "even for a couple of minutes"?
Leaving small kids unattended in a car is now an offence,
[citation needed] . Not true. Had this argument on a different forum.
Here's two citations, took me five seconds on google:
http://m.news.com.au/QLD/pg/0/fi1615049.htm
"ANOTHER parent has faced court accused of neglect after she left her children in the car while she went into a hardware store"Or http://www.premier.vic.gov.au/media-centre/media-releases/28…
"Victorian legislation now makes leaving a child unattended in a car a criminal offence, with penalties ranging from fines of up to $1,652 to three months in prison"Which law is invoked may vary from state to state, but even without an explicit law, the police can just say "reckless endangerment" or something similar.
You might be better off looking for a bargain on cable-ties to keep the rug-rats in the vehicle! :p
These cards are geared towards illegal usage. Or maybe it's different, but the ones I purchased only required a Date of Birth, which you could put down anything you wanted.
I wonder why ASIO is so tight about busting small companies for money laundering, when the big guys with a similar setup can get away with it.
Bastards.
These cards are geared towards illegal usage.
I don't see why. This card has the same (easily defeated) identity checks as a normal online bank account.
And how can it disguise the origin of money? Spending it secretly is not laundering.Rubbish, you need to do the normal bank 100 point ID check prior to issuance.
The ones I buy don't require any details from you at all (Not even a date of birth)
Or maybe it's different, but the ones I purchased only required a Date of Birth, which you could put down anything you wanted.
No, they are pedantic about id - hubby got one of these in a previous 'free card' promo. It took several weeks from applying and actually receiving the card, including not one, but two trips to woolies with id. By the time it had arrived I'd been able to convince him he'd be better of just opening a fee-free nab account with visa debit.
These cards are used as gifts in the USA. I recently got a Walmart visa gift card in the mail, and the fees weren't half as terrible as this. It was $1 a month after expiry, which was a year. (though I could only use it to shop at online American stores as it couldn't be used in Australia.
I'm surprised at whatever the hell this is that they are trying to sell as a deal.
Hey doesn't a bank mastercard/visa debit card with your transaction account require a minimum deposit each mth for no ac keeping fees??? I don't think this card has mthly fees if you dont choose this option.
Nope, lots of transaction accounts with no such requirement. They're happy to have your money and pay you no interest.
WOW have you read the fee structure??? you even get charged $4.95 if your card expires and keep paying $4.95 until you pay them $5 to cancel it.
Do you have to be over 18?
I have had one of these cards and there are a few issues:
1) BPay trasnfers from you bank to this card take a ling time to be credited anything from a min of 2 to 4 days.
2) Purchases on the web like Google App Store and others even if they are quoted in AUD$ attract international transactions fees because they allege that the billing party uses an overseas bank and may bill in AUD$.
3) Their website is awfull and slow.
4) Dont think of using these cards if you are on a cruise ship, if your name is not on the card and embossed you cannot use it.
Dont think of using these cards if you are on a cruise ship, if your name is not on the card and embossed you cannot use it.
Oh yeah, better cancel my cruise :p
I think I'll stick to the non-reloadable kind. Save me the trouble of applying for something I will hardly ever use.
Is there any transaction cost?