Prepaid Cards For Students

We’ve compared and displayed all the prepaid cards that are open to students to apply. These cards provide all the features to manage spending by “topping up” the card while offering all benefits of being able to make purchases, shop online and other benefits. Choose and click through to apply direct with the card issuer.

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All credit types
Rated 4.8/ 5

Pockit Why?
Why?

This provider is our Expert’s Choice in its category as it won tops marks for the following.

  • TRUST
  • VALUE
  • EXPERTISE & KNOWLEDGE
  • CUSTOMER SERVICE

Learn more about how we review and assess the providers here on Lending Expert.

Admin Fee
99p Per Month

Transaction Fees
Free

ATM Fees
Free

Load Charges
Debit Card & Paypoint 99p
Bank Transfers are Free

Pockit believe that accounts should be available to all types of people, regardless of their income or credit rating. They believe that fees should be simple, fair and without any nasty surprises.

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All credit types
Rated 4.8/ 5

WeSwap

Admin Fee
Free

Transaction Fees
Free

ATM Fees
Free

Load Charges
Bank Transfers are Free
Debit Cards are Free

We Swap is a British Bank Award Winner for Best Travel Money Provider in 2018. Get the best rates on your foreign currency with our travel card and app. WeSwap is up to 10 times cheaper than banks and bureaus.

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All credit types
Rated 4.8/ 5

U Account

Admin Fee
Free

Transaction Fees
Free

ATM Fees
£1

Load Charges
Free Bank Transfers

With the U Account you can get all the features of a bank account plus a whole lot more. Manage your money on the go, view your spending, and even organise your funds into different accounts.

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All credit types
Rated 4.7/ 5

goHenry

Admin Fee
£2.99 per month

Transaction Fees
Free

ATM Fees
£0.50

Load Charges
Free Bank Transfers

goHenry is a Pre-paid Card and App with unique parental controls which are ideal for younger people and teenagers aged 6 to 18. You can join today and try goHenry FREE for a whole month without obligation. No credit card required.

FAQ's

What are these types of cards?

Keeping track of money as a student can be difficult. There are lots of bills that need paying, as well as grocery shopping, book buying and evenings out. For many students, this is their first time away from home, and can be a lot to take in. If they have never had a credit card of any kind, or any sort of overdraft, they can get a little too excited, and may end up making a mess of their credit rating before they have even finished their education. One way that parents can help students with their finances is through the use of a pre-paid credit card. Parents and students can both top up their card, but will set a limit on the amount that they can spend. This can help students to take more control of their finances while still buying what they need to study and general living expenses.

Are prepaid cards the best deal for students?

Students need a great deal of help with budgeting and also need a card which is flexible and able to offer them the best alternatives to getting into debt. Many students find that they fall into debt with their bank, and may even have to struggle on with an unauthorised overdraft, which can lead them deeper and deeper into debt. A student friendly prepaid credit card will help students to keep a closer idea on what they are spending, and can be used for things such as the weekly grocery shop, or for book purchases at the beginning of each term. Parents can also help by budgeting their assistance to their student, adding money each week to tide them over.

How much will it cost to use the prepaid card?

The card can be helpful to students, but it does come at a cost. Unlike bank cards and cheques, which are provided free by the bank, the prepaid credit card has charges which will need to be covered. In most cases, the card will require a £10 deposit to set up, and there will also be charges for use, including ATM withdrawal charges and even charges for going abroad. There may also be other costs for failure to use the card, which can be left in a drawer over the summer, for example. All of these things mean that parents need to be careful when they are considering whether to give their children a prepaid card before they start at university.

Where can I find prepaid cards?

There are several companies who supply prepaid cards, some of whom have students specifically in mind, and others who are just offering the card with no requirements for the user. Researching the different cards may give you a clearer idea of which is the best for the student, and which is likely to be the most useful to them. Some of them have higher withdrawal rates, for example, while others have lower set-up costs, so you should consider all of the options available, and only select one when you are confident that it is right for you.

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