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Online bank account with prepaid card

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Bank accounts are important, in fact it´s one of the topics we are always asked about and always pay attention to. However, we don´t need everytime a bank account in the classic sense of the word.
In todays article you will find a brief introduction to the topic of pre-paid international cards, a relatively new type of card and different from your usual credit or debit cards.
I will give you below a comparison between the most important suppliers. For this comparison I only considered the online accounts that the pre-paid card offers.

International prepaid card

In general, anybody can use this type of card.
Contrary to what happens with banks, accounts and prepaid cards are obtained after the simple and typical process of personal identification (KYC), no further inquiries are carried out. In other words, they do not take into account lists of defaulters or similar, which also makes these cards suitable for people in debt.
The cards can be ordered through the internet without any complications, they are sent to any corner of the world and can be used worldwide. All this makes them a great option as insurance, in the case that your usual card doesn´t work.
The cards usually take 1-2 weeks to arrive by post and are activated by entering a PIN in the open account, so that security is assured. Thanks to the online banking system we can reload the card and control our balance at all times.
According to the supplier, it´s possible to charge other credit cards or make transfers to other bank accounts.


The accounts listed here are not suitable for the use to buying from online shops with warranties (since you can not request a chargeback, that is, the cancellation or reversal of the transaction), or to hide large sums of money.
Although these types of financial service providers are not subject to the automatic exchange of information on bank accounts, within the EU they are subject to the EU FATCA. Moreover, each one has to decide how much money they want deposited in the accounts of these poorly regulated entities.
In order to identify yourself you must present a copy of your passport and proof of residence, which usually consists of a utility bill (telephone, electricity, etc) in which the customers information appears.
In the case of prepaid cards, you often only need a previous bank statement or your credit card bill.
For verification it´s essential to have an email address and, if possible, a mobile or cell phone number that allows authentication in only two steps. You will also need to be in posession of a bank card with which to pay the cards fees.
Depending on the case, especially in the case of large sums of money, they may also request additional documents.

What is a prepaid card for

Many people will tell you, if I don´t have debts and I already have a currunt account and credit or debit cards, why should I get a prepaid card?
On one hand, you will be able to make online purchases without notifying others of your credit card number. On the other hand, you can use the card in unsafe places or countries without worrying about the seller making a copy of your card and then having to cancel it.
In the case of traders or players (gambling), prepaid cards give you direct access to your money without depending on any bank, entities that are not usually impressed with these types of activities.
The independence of banks allows you to improve your personal credit rating, it better protects your privacy (bank accounts are already fully open to the Public Administration) and makes it difficult to seize your money.
Moreover, when the financial crash arrives, you can access your money and, if you also have some money in a foreign or offshore account, you will be able to leave the country in time to establish yourself in another place and continue with your life.
The advantages of pre-paid cards are clear, in my case, I already have more than 10 in my purse, of course to also be able to make this comparison.

Characteristics of the online accounts

The online accounts that we analysed can sometimes also have some nasty surprises for those that aren´t careful. It´s important to look carefuly at the fees for withdrawl of cash and those for paying with card.
We mustn´t forget either the fees for recharging the card, or the fees for transfers to other accounts, as well as the commissions for currency exchange or the surcharges for inactivity of the account.
To make your life easier we have found the most important characteristics in this comparison.
Apart from the basic features, you will also find a section with the advantages and disadvantages that certain platforms have over others.
In general it is interesting to opt for an online account with it´s own IBAN. Many of the suppliers listed here use common IBAN accounts, so that the sender has to use the correct reference number in order for everything to work. It is also essential to know that if the online account offers the possibility to open business accounts, meaning, if the account allows you to receive payments from your clients.
Other factors that also differentiate some accounts from others is their compatability with Paypal, the option to make mass payments or to top up your balance with Bitcoin.
Here is our final comparison of pre-paid cards. If you know another interesting supplier, don´t hesitate to contact me by leave a comment.

Note: keep in mind that the conditions may have changed since we found this information, so make sure to double check before deciding on one service or another. Also, to be sure that the services offered for each product are good for your needs, you can also read customer reviews at Trustpilot , if applicable.

Revolut

Revolut (United Kingdom)

What it offers
Currency card: $/€/+
Account in: USD, GBP, EUR, AUD, CAD, NZD, CHF, JPY, SEK, HKD, NOK, SGD, DKK, PLN

Options: Premium account for 7€

Costs
Cost of the card: 5/0 Premium
Monthly rates: 0/7,99€
Transfer: 6€/0
Recharge of any card: Internal transfers: 0
Recharge card from E-Wallet: 0
Withdraw money: 200€ free/400€ free, from there 2%
Online payments 0
Currency exchange rates: On weekends the commission for foreign exchange rises by 1,5%

Advantages
The currency exchange is extremely good
Business Account possible

LeoPay

LeoPay (Bulgaria)

What it offers
Currency card: $/€/+
Account in: USD, GBP, EUR, AUD, CAD, NZD, CHF, JPY, SEK, HKD, NOK, SGD, DKK, PLN, RON
Options: IBAN, Paypal account

Costs
Cost of the card: 0
Monthly rate: 0
External card recharge: 1% EU/2% outside of the EU
Transfer: €3 SEPA/€35-200
Re-charge of any card: Internal transfers: €0,1
Recharge card from E-Wallet: 0
Withdraw money: €2 EU/€3 international 0
Currency exchange rates:-

Limitations
High fees for transfers outside of the EU . Available just for EU citizens.

Advantages
Low maintenance costs
Widely accepted, including offshore
The account and card are compatible with Paypal . It is free to use card at any POS terminal around the world. It is free of charge to shop online with card LeoPay.

MONESE (United Kingdom)

What it offers
Currency card: €, GBP
Account in: EUR, GBP
Options: Paypal

Costs
Cost of the card: 0
Monthly rate: €5
External card recharge: –
Transfer: 0/0.5% if not –GBP
Recharge of any card: Internal transfers: 0
Recharge card from E-Wallet: 0
Withdraw money: 10 times for free/month, after €0.5//0.5% if not -GBP
Online payments: 1.5
Currency exchange rates: 1.5

Limitations
There are some limitations in terms of amounts of money, with no more than £40,000 being allowed in the bank account at any time. Top ups are limited to £500 at the Post Office per day, and £249 per transaction at Paypoint (with a daily limit of £500

Advantages
The prices are good and they are clearly explained to you.The Monese UK account maximum balance is £40,000 .

PAYONEER (USA)

What it offers
Currency card: $/€/+
Account in: EUR/USD/GBP/JPY/CNY
Options: IBAN, Paypal account

Costs
Cost of the card: 0
Monthly rate: 0/7,99€
Top-up external card: 3%
Transfer: 0
Recharge of any card: Internal transfers: 0
Recharge card from E-Wallet: 0
Withdraw money: 3,15$ or 2,5€
Online payments: 1.5
Currency exchange rates: 3%

Limitations
Only clients can put money in the account, not the owner. Specially designed for freelancers

Advantages
Huge flexibility for businessmen, as it allows them to receive money from clients
Individual account in € (Germany), $ (USA), £ (UK), ¥ (Japan), Yuan (China).
The european account allows charges to Paypal .

There are many other financial institutions that offer an online bank accoun: Transferwise, Viabuy, Neteller, Skrill, Bunq, Sogexia, Monzo, Wireaccount.

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