Providing an alternative to the traditional bank account associated debit and credit cards, the Post Office Money Card has been designed to enable consumers to manage budget as only the amount loaded to the card by the customer can be spent. The card is designed for usage within UK to pay for goods and services both online or on the high street and to withdraw cash from ATMs, wherever the MasterCard logo is displayed.
Raphaels Bank is set to issue two types of cards: Post Office Money Card Pay As You Go and Pay Monthly which can be topped up in around 11,500 branches, Post Office mobile vans which visit approximately 250 rural locations in the UK, and via website, call centre and SMS, once the customer’s details are registered via The Post Office website.
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