

None of this has held the cards back in the United States, where banks reportedly started to push them after debit card fees were capped. "Had the 9/11 terrorists used prepaid cards to cover their expenses, none of these financial footprints would have been available."

Law enforcement was able to follow the trail. "The 9/11 hijackers opened US bank accounts, had face-to-face dealings with bank employees, signed signature cards and received wire transfers, all of which left financial footprints. As explained in this PR-deflating passage from the United States Treasury Department, ferreted out by the Government Accountability Office: Here is the part that is not always in the sales pitch: The lack of bank links can make them alluring to money launderers. This protects people from impulse shopping, which appears to be the reasoning behind a government initiative to issue prepaid cards to be used at approved stores by teenaged beneficiaries. They are not linked to a bank account, so the money at risk is only what you load on the card. Prepaid cards provide the convenience of a credit card for people who don't want one, or for children, or people with bad or no credit histories.
#Icash card offers plus#
The Fundzi children's card, at $59.40-$81.35 a year plus 20c per transaction (after the first 10) is more at the Kardashian end of the price spectrum. Westpac's prepaid Visa is $20 with no ongoing fees but costs $1 each time to load. Of the others, Kiwibank's Loaded Everyday looks cheap by Kardashian standards - $36.50 to buy and own for a year to the Kardashian Kard's US$99.99 (excluding load fees). One lasted two years before being pulled from the shelves. So what should New Zealanders make of pre-paid cards here?
