Yes. The Bread Prepaid Mastercard® Card is an e-money product which is reloadable and is only issued after full Know Your Customer (KYC) checks have been completed.It provides a full electronic trail to a fully verified cardholder and meets all the criteria in the Home Office guidance document - a link to which can be found here.
No. Our model is that you pay a set-up fee to use our service and that is it. We charge the cardholder a nominal amount for transactions but you do not pay us beyond the set-up costs and the stock of cards - the cost of which you can pass onto your customers.
We need a prefund or float from you covering the costs of the loads you need to make - to cover weekends and holidays this will be between 3-7 days worth of loads. These funds are held in a ring fenced client funds account by Natwest. As you load cards from this - it is immediately updated and you can view all your daily activity from reports in our web portal.
Not really, you need to ensure that you have a computer with an internet browser and stable connection to the internet to access our web portal. You will also need to be able to scan documents as requested and save them as files and will need to be able to print out receipts.
Once we have got you signed up, we can usually conduct training and allow you to start making payments onto cards within 3-4 weeks.
We would always recommend that you have a back up plan in place to pay your customers in the event of a loss of telephony connection. However, you should be able to run our service from a smartphone with a 3G internet connection with no problems.