Woolies reloadable prepaid MasterCard is no more

Major supermarket, Woolworths, has announced that its Everyday Money Reloadable Prepaid MasterCard has been discontinued.

The Prepaid MasterCard has been available since 2014, and with no paperwork, income verification, credit check, or minimum age requirement, it has been an easy way for Aussies of all kinds to access the convenience of plastic.

But the prepaid card is now unavailable for purchase to new customers, and current cardholders will need to clean it out of their wallets by early 2017.

• 1 February 2017 - by the beginning of February, cardholders will no longer have access to credit functionality, such as BPAY, direct entry payments or in-store loads. They’ll also need to ensure any direct debit or credits set up on the card are cancelled or transferred to a different credit card or debit card.
• 1 May 2017 - is the official date that the Reloadable Prepaid MasterCard will be discontinued. By this date, card holders will need to have used or withdrawn any remaining balance on their card. Those who withdraw their remaining balance should note that while ANZ ATM withdrawals are fee-free, fees may apply on other ATMs.

On its website, Woolworths stated that the reason for discontinuing the card was “to make way for some exciting new products coming soon.”

In the meantime, shoppers may turn to a fee free bank account with linked debit card, which, like a prepaid card, will allow them to spend their own money at the checkout.