BOV launches pre-paid cards

I. Camilleri

Nov 27th 2009, 05:30

Getting into 2010, I still know a fair amount of people who do not shop on-line for fear of compromising their credit card. This product has the potential of allowing them, for the first time this Christmas, to get some of the excellent bargains on e-bay and the other e-commerce sites on the net.

Chris Grillo

Nov 25th 2009, 19:43

In case anyone here was left holding the short end of a stick,there is no need to be emotional about a dignified talk....we are not complaing,simply commenting.

I already have my Cashlink and Mastercard....and for gifts I have a bona-fide chequebook that is also a receipt with every personalized AND signed cheque cashed.

Since presumably you can give these cards away as gifts,I can safely assume there is no real security behind them?So what if you lost a card A.Fernandez, I can find it and cash it?

YES I DARN WELL CAN! Since the card already is already loaded I can simply sign the payment voucher at the point of sale...so? you might say can't I lose a VISA too?

Ah...VISA and Mastercard have the power of insurance behind them!

And what if the guy who gets this as a gift has 50 euro left on it and give it to a mate to pay off his past debt...

Naturally I am not against the cards. They are,after all,great as gift vouchers for younger people.I simply choose not to use them. I am all for progress.

Good night everyone. :-)

A. Fernandez

Nov 25th 2009, 17:22

For those who don't see the benefit of this card and appear to be emotional about it - go get emotional about something where it may actually be of use.

@ Chris Grillo. You might change your opinion if you were a bit more informed as to the uses of such cards(apart from the self-limitation of spending for some people).

The down side of these cards is, as already pointed out, the remaining balance. BOV should offer the service of depositing the balance into one's own account through an ATM.

Sandy Borg

Nov 25th 2009, 17:18

You can always put any remaining balances on PayPal for example, you don't need to waste anything :P

Is BOV the best bank in Malta? Stumbled upon this blog post:
http://malta.cc/investment-opportunities/best-malta-bank/

C Borg

Nov 25th 2009, 16:52

So now we can use these cards to a number of websites withouth the transaction being shown on my bank statement :)

Chris Grillo

Nov 25th 2009, 16:13

Dear me,what discord. The idea of having news in a blog format is for people like me, who can comment on its uselessness,or for other people who like the idea. I am for both opinions.

I am not complaining of new features or advancement. I hardly ever have a physical cent in my pocket! I don't know how the darned Euros look! I always use a card! ALWAYS. I shun shops who do not take Cashlink or Mastercard...I use modern technology in all aspects at home and on the road, be it lighting, computing, writing..Everything.

But there comes a time when you must honestly call a spade a spade. This is 2 dozen spades worth.

The only benefit I can think of, is that one buys this card and does not spend more than he ought to using a normal mastercard. Self-control I think it is called.

But if it pleases people, then by all means do use it. I am all for personal options. I respect other opinions, and expect people to respect my opinions too.

'Nuff said... anyone got change for a beer? :-)

Have a great afternoon everyone.

S Keyes

Nov 25th 2009, 12:13

@ R. Zammit. Thanks for your message. I just dont understand the mentality of people who feel the need to complain on something like this. Well done BOV for opening up opportunities for more people to have access to online goods and services. Anything that makes something that allot of people take for granted possible for other people is a fantastic idea. I think I will buy a 100 euro card as an emergency and keep it separate from my wallet in case its lost or stolen. I bet most of the moaners on here didnt think of that!

Matthew Borg

Nov 25th 2009, 11:35

I think that these cards are useless and BOV should know better. They already offer a prepaid VISA so why come up with these disposable pre-paid cards? The prepaid VISA is much better because it has much more security features plus one may top it up anytime with any amount he wants to.

louis zammit

Nov 25th 2009, 11:28

useless??? just cos u cant or do not know how to use it......its great now i can buy from the internet without giveing my visa........nobody can take more money than u have......WELL DONE BOV

R. Zammit

Nov 25th 2009, 11:21

That’s right S Keyes. It appears unfortunately that so many people here are miserably negative by nature about anything innovative. Worse still, they tarnish all obvious advantages simply because they fear venturing into modern technology. Just imagine how worse and lacking behind we would be with this kind of mentality….and these very same people are usually the first to complain about lack of advancement……or anything else they could whine about. An unfortunate vicious circle within the minds of so many.

M Borg

Nov 25th 2009, 10:49

@J Rizzo

Totally useless?

It's a gift card - more versatile than a gift voucher; an internet payment card; a travel card; a general purpose payment card; can be used at retail outlets that accept MasterCard worldwide; gives you the benefit of confidentiality and security when paying over the internet; etc.

I would say - rather useful:)

S Keyes

Nov 25th 2009, 10:13

Why do some people feel the need to complain about anything and everything. Your not being forced to use one. If you dont like it then dont get one... simple. As mentioned in the article the cards will allow people to buy things online (booking flights for example) without the hassle of getting a credit card. It will make things easier for allot of people. Well done the BOV and I pity all the haters on this site.

R. Zammit

Nov 25th 2009, 08:19

@J Rizzo

The value of cash is what is needed for personal purchasing power and not the cash itself. Plastic (and virtual) money has become the fulcrum in modern trading between merchants and customers. It is safer, more convenient and enables one to affect his purchases, locally and abroad, even from the comfort of his armchair. In addition, some categories of cards offer purchasing insurance and royalty schemes, and have a reversing system that protects cardholders in case of frauds.

So it is only useless to those who prefer the antiquated method of presenting raw legal tender physically for purchases.

So please….appreciate the available enterprising spirit to accommodate people with opinions different to yours.

R. Zammit

Nov 25th 2009, 07:57

@ CPisani

Simple......because cash cannot be used online! So the card is obviously more versatile, and if you intend to give it as a "Universal" gift voucher…..it should not bother you whether the recipient exhausts it’s value till the last cent or not!

T.gauci

Nov 24th 2009, 22:41

more like a new gift for hackers to exploit and phis

Chris Grillo

Nov 24th 2009, 21:48

@John Pace ... for local purchases you just use your normal credit card! Come on man, wake up. And for PayPal you divulge your number only once, through an https server (secure internet server) and that's it. You don't top up at all!!!! You just give PayPal permission to use your card details.You get a receipt for the exact amount, and if you receive anything, or a bill that's not yours (highly unlikely) you just take it up with VISA and Paypal...

Here we are discussing cards which are clearly utterly useless. I am a keen BOV client, and will probably be until I die..but useless is useless....far easier for me to give out cash or a cheque as gift...

J Rizzo

Nov 24th 2009, 20:48

Totally useless card

M Scicluna

Nov 24th 2009, 16:10

Great timing from BOV - these make nice presents. Well done for coming up with new products.

Mario Galea

Nov 24th 2009, 15:34

@ rodnick abdilla

What you are probably referring to with regards to APS is the 'PREmier Card'...
nothing to do with PREpaid.

This is really a cool gift card particularly for Christmas.

CPisani

Nov 24th 2009, 14:54

@R. Zammit

Why would i want to use such a gift as a voucher when i can just give some1 cash? that way the problem with having left over cash on the card that i can't use (as mentioned below) will be solved! tada!

JBorg

Nov 24th 2009, 14:03

@Warrent Magro
If you cannot top-up the card to its' original value, I guess you are right.

Jonathan Beacom

Nov 24th 2009, 13:48

The cards are a great idea and will make great gifts.
I noticed that the cards have no number on them, so I guess that if you were to lose it ANYONE can spend your money.
With a credit card, on the other hand, there are security measures and you can even cancel the card before anyone else can use it!

R. Zammit

Nov 24th 2009, 13:26

It can also serve as a perfect and an unbeatable “gift voucher” that can be used anywhere; anytime; and everywhere, be it physically or online - unlike other vouchers that can only be used through specific listed outlets.

A most welcomed launch that coincides conveniently with the coming festive seasons.

M Abela

Nov 24th 2009, 08:51

@Rodnick Abdilla
Check your facts. APS offering pre-paid cards? Never saw one!

Well done BOV - this makes a good gift card.

John Pace

Nov 23rd 2009, 22:13

@ Alexander Azzopardi & Chris Grillo

And how do you top up the Pay Pal account????
Isnt' that through your ACTUAL card??

A prepaid card limits the risk of giving out your actual card number on the internet.
Besides, Pay Pal can only be used online where as the prepaid card here can also be used at shops.

It's a great idea.

Alexander Azzopardi

Nov 23rd 2009, 20:19

why use theese cards when paypal is 10times safer !!!

Gerard Cassar

Nov 23rd 2009, 18:59

And if it is stolen or lost. What happens?I am green of such nicities. A 50 Euros or higher does the job for me without having to sign anything. Of course cash can be lost anyhow.

Warren Magro

Nov 23rd 2009, 18:54

@JBorg Yes you can check your balance. But let's say you buy something that with postage costs Euro 92.75, what will you do with the remaining Euro 7.25? You have to buy something that costs exactly that much to be able to use all of the funds. You can not transfer the remaining funds onto another card or reclaim the remaining balance (as told to me by the BOV customer care agent before you ask) and you can't use it as part payment for something online either, i.e. purchasing something that costs Euro 20 and using the remaining balance plus some on another card. Try it and you will see. You still have the money on the card but can't spend it unless you hunt online for something that will cost the exact amount as remaining on the card, which is why I stated that you would have to end up either buying something you don't want/need or loose the money.Online banks such as Neteller will give you a one use credit card with the exact amount on it that you want to spend, with no charges for online purchases.

Chris Grillo

Nov 23rd 2009, 17:54

Maybe I need somebody from BOV to enlighten me. Who the heck needs to make use of these cards? If you are buying locally, use your normal Cashlink...if buying from the net, use PayPal. Secure and safe, with the huge insuring power of VISA behind it if you cannot negotiate a PayPal deal (highly unlikely)...after all, dealing with foreign merchants is easier than local sellers. Good try, but needless...

rodnick abdilla

Nov 23rd 2009, 17:34

Not the first bank for sure :) APS had this service for years now

azzopardi joseph

Nov 23rd 2009, 17:21

in certain countries you will find similar cards that one can buy fuel,pay for parking,make telephone calls from phone booths,and can also be used to do one's shopping.....all in 1 card!!! they are more practical since all you need is 1 card to pay for everything...and its 100% secured cos you have to type yr pin number every time

George J.

Nov 23rd 2009, 16:58

Agree this is a Save for buying on Line, but Pay Pal is much saver with less husle

JBorg

Nov 23rd 2009, 16:07

@Mario Genovese

I do not tend to agree with your comment. As d. attard said, this is ideal for buying from the internet (as it is much safer), since you do not expose your actual account or card number anywhere.

JBorg

Nov 23rd 2009, 15:59

@Warren Magro

The article says that "Cardholders can check their balance by inserting the BOV Master Card into any BOV ATM". This indicates that it will work like a normal BOV Cashlink card where instead of the money being deducted from the account, it will be deducted from the card itself (so it must have a chip instead of magnetic strip). Thus, when you are buying, you do not have to buy the exact amount of the card.

Fenech M D

Nov 23rd 2009, 15:29

I thought banks did not give balances over the phone. :-p

Warren Magro

Nov 23rd 2009, 15:06

Absolutely a waste of money. You will never make a puchase of the exact ammount of the card and any funds remaining can't be transfered to another card, so basically you will be throwing away your change or purchasing something you don't want/need just not to waste the cash, and even then you won't use it all. Online one use cards would be a much more viable option.

Loranne Zammit

Nov 23rd 2009, 14:54

i tend to agree with d. attard - online shopping is somehow safe

Mario Genovese

Nov 23rd 2009, 14:10

I don't think there is too much difference from depositing money beforehand into the normal Card account!!!!!!! but....that's marketing.

Daniel Vella

Nov 23rd 2009, 13:58

This is a great initiative. Well done BOV!

Will I be able to stack multiple cards together if I wanted to buy something costing more than 100 Euros though?

d.attard

Nov 23rd 2009, 13:31

great idea. makes the use of a card to buy on-line so much safer. well done.