PCS agrees prepaid deal with ClearDebt Group plc

12th March 2008


Payment Card Solutions (UK) Ltd in conjunction with their partners Quantum Card Services Ltd have agreed a deal to operate their ClearCash prepaid Visa Card programme.

With launch earmarked for November 2008, the ClearCash solution will help anyone who is having difficulty managing their money, including individuals, in or entering into, a debt management plan or an IVA (individual voluntary arrangement) or even those who have gone bankrupt. It offers a viable banking solution for those that may have lost access to their existing high street bank facility through overspending and reliance on credit or who cannot open a bank account.

ClearCash combines a full online bill payment service with a prepaid Visa Debit Card and is available to anyone no matter what their credit history is. Funds are pre-loaded onto the card from salary or benefits payments.

Paul Swinton, PCS Managing Director commented “An important aspect of the ClearCash Card is the ability to pay household or other bills online via BACS or standing order. This is a function that PCS have implemented and which will be an important differentiator from other cards in the sector”.

ClearCash features a number of unique features:

  • Britain’s first “full use” Visa prepaid card
  • Cheapest prepaid card with bill pay facility
  • Full online access – including pill payments and standing order
  • Can replace current account
  • Cannot go overdrawn

    • David Mond, Chief Executive Officer of ClearDebt Group and long time campaigner for self-regulation and oversight in the debt resolution industry commented: “We increasingly find our clients being treated by the financial services industry as personae non-grata which has led to us coining the term FUNT’s or financially untouchables. By launching the ClearCash card we are throwing a lifeline to help our customers continue living in a world where plastic is almost essential and, at the same time, giving them a first class tool to manage their finances and rebuild their financial lives.”

    Mark Maffia, Managing Director of comparison website whichwaytopay.com commented “We’re looking forward to featuring the ClearCash card on our site as its low cost and ability to provide BACS transfers both to and from the card gives it a clear point of differentiation in the prepaid card sector”.

    Payment Card Solutions (UK) Ltd operates the ClearCash solution in conjunction with their partners Quantum Card Services Ltd. The ClearCash prepaid Visa card is issued by Alliance & Leicester Commercial Bank plc.