Do you need to ring-fence your expenses? Then maybe you need a fee-free pre-paid card to help keep tabs on your finances. Times online reports that O2 has announced that it will offer pre-paid Visa cards that can be used online, in store or at cash points and works simply as a substitute to carrying cash. The card can even be claimed by children as young as 13, without their parent’s permission.

The ‘Load and Go’ card will be launched by O2 in partnership with Natwest and comes with no fees. O2 will provide users with balance updates on their phone. The pre-paid card has no overdraft feature as users can only spend what they have loaded onto the card. The card will in effect work as an easier and safe way to carry cash. Parents won’t have to worry about their children carrying or losing cash. The  card uses the Chip and Pin security feature and if the card is stolen it can easily be cancelled.

Pre-paid cards have been very expensive in the past, when banks have tried to charge users for a myriad of actions with the card - Lousie Bond from uSwitch has highlighted some of those charges, including up-front fees to take out the card, monthly fees, withdrawal charges and even a charge for loading the card. Bond sees the O2 cards as a good way to budget monthly expenses and keep tabs of your finances.

The Load and Go card is also designed to introduce children to understanding  financial control, as well as keep them from having to carry cash which could attract crime.

If you have taken all the steps to budget yourself and cut down your expenses but are still struggling to pay the rent or utility bills, then it may be time for you to consider getting yourself a payday loan from us at www.247Moneybox.com. Our team is waiting to advise you and help make a tailored cash loan solution to help you out of a cash-flow crisis until the next paycheque arrives.