Bank cards

There are several different types of cards available which allow you to access your money. Current accounts usually include the option of an ATM card and sometimes a debit card. With some banks, both ATM and debit facilities are available on the one card. For more information on the cards available:

ATM cards

Credit cards

Debit cards

Prepaid cards

ATM cards

ATM cards let you withdraw money from your account when it suits you. You can use your card at any banks' ATM machines - there is no extra charge for using an ATM other than your own bank's. You can also use your card in branches of your own bank if you prefer to take out money inside the branch. There may be a limit to how much money you can withdraw in one day.

You can use your ATM card at ATMs abroad if it has a Maestro, Link or Cirrus symbol on it.

You may be charged a fee to withdraw cash from an ATM while abroad. For security reasons, your bank may also reduce the amount of cash you can withdraw each day from an ATM outside the EU.

Credit cards

Credit cards are a convenient and flexible way to pay for things without having to carry cash. And if you use them wisely, credit cards can be one of the cheapest sources of credit available. You can get more information on how credit cards work and how to get the best from them.

But you need to be careful about how you use a credit card and disciplined about making repayments, so you do not get into debt.

If you take out a credit card, you may also be offered payment protection insurance

Debit cards

Debit cards allow you to pay for goods and services without taking out cash. The money comes out of your current account directly, although it may take a few days for your purchase to appear on your statement.

You can also use your debit card to get ‘cashback' from some retailers - this is where you pay for your goods but also ask for a certain amount of cash to be added to the cost of the transaction. It can be convenient if you do not want to go to an ATM, or there is no ATM nearby.

Many banks in Ireland issue Laser debit cards. Laser can only be used in Ireland but many Laser cards have other facilities, such as Maestro, which mean they can be used anywhere abroad where Maestro is accepted.

Some Irish banks issue Visa debit cards, which can be used anywhere in the world where Visa is accepted.

If your card is lost or stolen, report it to your card issuer immediately

Prepaid cards

Prepaid cards offer some of the same features as debit and credit cards, but you don’t need a bank account to operate one. You top-up your card with your own money, which you can then spend by using the card. As you are simply spending your own money through these cards, you can never run up debt or spend more than you have in your account.

Prepaid cards usually carry either the Visa or Mastercard symbol and can be used for purchases wherever a credit card is accepted. You can use them to pay for things in shops, online or to withdraw money at ATMs. Some cards also have chip and pin features.

Prepaid cards may provide a convenient solution for you if:

you cannot get a credit card
you do not want a credit card
you have a credit card but do not want to use it online.

You could also use a prepaid card as an alternative to a debit card, for example, if you debit card is not accepted to buy online. However, be aware that the charges can be higher than those for operating a bank account.

Getting a card

To comply with anti-money laundering legislation, you will be required to prove your identity when buying a prepaid card, so check in advance with the seller to see what documentation is acceptable. Prepaid cards are usually only available to people aged 18 and over.

Costs

There is generally a once off cost to buy a prepay card, and then:

a fee is charged each time you top up the card. This fee can vary according to the amount you load onto the card, or
a transaction fee each time you use the card to buy something.
a transaction fee is also charged if you withdraw money from an ATM. This charge varies for different prepaid cards and can be considerably more if you withdraw cash from an ATM outside the Eurozone.

Find out about the cost and the ongoing fees before you buy a card, so you know exactly how much the card will cost you to use.

Different terms and conditions apply to different cards and not all prepaid cards are the same so be sure to ask if something is not clear or you need more information. There are complaints procedures in place for prepaid cards if you are not happy with the product or service. You can get details of the complaints procedures from your prepaid card issuer.