News & Events

View All
5th July 2017

Discover the benefits of Prepaid Cards

NEPO’s Prepaid Card Accounts solution was launched earlier in the year following extensive stakeholder engagement and market consultation. The suppliers to our nationally-available solution are Prepaid Financial Services Ltd and All Pay Ltd.

Prepaid Card Accounts operate in the same way as a standard UK bank account, including the option to withdraw cash from an ATM, make regular payments, pay vendors and receive regular statements. The cards themselves are similar to a standard debit card, whereby funds are preloaded by contracting authorities and used by the cardholder until the balance is exhausted (there is no overdraft facility).

NEPO’s solution will be of particular interest to organisations with responsibility for adult and children direct payments, appointee and deputy clients, welfare payments, community care payments, asylum seekers and disaster relief. Furthermore, the solution was developed with innovation in mind and allows for wider usage depending on emerging requirements, for example staff expenses, gift cards, citizen ID cards.

In addition to improved customer service for end-users, one of the key benefits of the solution is the ability for contracting authorities to reclaim unspent funds (typically understood to be 10% of original budget).

NEPO is working closely with the National Prepaid Card Network to help identify and share best practice. The network is free to join and is open to anyone working in the public sector (Read more about the network at http://prepaidnetwork.org.uk/)