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Old 18-06-2011, 15:38   #1
Tempest
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Cashplus Card - Anyone got one/use it?

A friend just told me about this, and seems like an excellent idea, esp with the recent spate of things getting hacked, which seeing as how the cloud computing idea is moving forward may only get worse.

A Cashplus Card: http://www.mycashplus.co.uk/

From 1st glance it seems to be simple a new Mastercard you use for all your online buying of goods, but it's not linked to any of your actual accounts.

You have to load money onto it, so you can use it.

Wondered if anyone uses one and any thoughts about it?
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Old 21-06-2011, 21:00   #2
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90 views and no replies, I guess that means no-one here uses them or thinks they sound good.

Strange, as with all the hacking stories recently. The idea of a credit card you could use online, but you had to load money onto it, otherwise it was worthless, sounded like a reasonably good idea to me, when it came to putting credit card details into online/cloud accounts.

No?
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Old 21-06-2011, 21:10   #3
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Sounds a good idea to me, might give his a go as the Credit Cards idea of security is poo
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Old 21-06-2011, 21:16   #4
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Quote:
Originally Posted by BaggyDave View Post
Sounds a good idea to me, might give his a go as the Credit Cards idea of security is poo
Well with the Sony issue and credit card details possibly compromised, and I'm sure I've heard at least one or more things similar to that. It would seem a better idea not have the card number you use actually linked to your real accounts.

Unless I'm misunderstanding how these cards work?

Well it seems to be what I think it is:

One of the safest ways to shop online
There’s no link to your bank account, so there’s no risk to the money in it
Fraud protection – if there’s a problem we can replace your money as long as you’re using the card safely*
There are no paper statements – track your transactions online to reduce the risk of identity theft or invasion of privacy


http://www.mycashplus.co.uk/cashplus...-shopping.aspx

So if you want to be able to use the card, you put some money onto the card, and then this new card can be used up to the money limit you have loaded onto the card.

Last edited by Tempest; 21-06-2011 at 21:19.
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Old 22-06-2011, 08:54   #5
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Not sure what protection you'll get when someone empties your account, it'd be like using a debit card surely and there'd be no payment protection. I know it says you get it, but it wouldn't be the same.

A CC has fraud protection generally so not sure what the point is really. My CC isn't linked to my bank account either.

It seems a massive faff to load money on to it and in all honesty when you see that you need to top it up at the post office, it just sounds like one of those cards that poor people have and seems to be aimed at them rather than any real online protection element
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Old 22-06-2011, 09:04   #6
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Quote:
Originally Posted by rbullivant View Post
Not sure what protection you'll get when someone empties your account, it'd be like using a debit card surely and there'd be no payment protection. I know it says you get it, but it wouldn't be the same.

A CC has fraud protection generally so not sure what the point is really. My CC isn't linked to my bank account either.

It seems a massive faff to load money on to it and in all honesty when you see that you need to top it up at the post office, it just sounds like one of those cards that poor people have and seems to be aimed at them rather than any real online protection element
Well, my understanding is:

You visit "dodgysite.net" or "PSN Network" or some other place. And you give them this number and they take out the £20 you loaded onto this card from your bank.

Mr Hacker comes along and steals your details and uses your card details.

At the moment he empties your bank account.

If you had a card like this, he could not get anything as there is no more (or very little left) money on the card.

It's like someone stealing your wallet in the street, they can only take what is in your wallet at the time. You wallet does not give them access to the main money in your bank account as there is no link between them.

that's my understanding.

Last edited by Tempest; 22-06-2011 at 12:34.
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Old 22-06-2011, 09:57   #7
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For debit cards, yes that makes sense - however if you're using a credit card online then there's no advantage surely?
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Old 22-06-2011, 13:33   #8
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Ok my Tesco CC works like this.

I put £20 on my PSN account, it gets hacked and they use my card. I get stung for £1000. I phone my CC say its fraud, they refund me the money.

You use your Cashplus card

You put £20 into your PSN account and gets hacked, they empty your card of whatever other money you had on it. You phone Cashplus, they tell you to make love to yourself as its not a credit card and you don't have any protection. They then add, if you want credit card protection go get a credit card, rather than a bancrupt persons equivalent.

Not only that, to get £20 onto the card you've got to queue up at the local spar shop or something. If you use the internet banking, surely some form of details will be on there to be hacked

R
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