Prepaid cards for housing associations
Housing associations are increasingly turning to prepaid cards to pay out funds for staff expenses, repairs and incentives to customers, while many residents currently use them to pay utility bills.
The Government is exploring the role of prepaid cards for Universal Credit as a way of paying out benefits to individuals who don’t have a bank account or those who need additional support moving to the new system of direct payments.
The cards function like debit cards, whereby funds are loaded onto a card and can be spent in shops or online.
If Universal Credit funds were put onto these, a portion could be ringfenced and allocated only for rent – reducing the risk of arrears. They could also be used for those beginning to live independently e.g. where the cards could be used to teach budgeting skills.
Your housing association can use a prepaid card for:
- Universal Credit (unbanked tenants)
- Petty cash replacement
- Travel and expenses
- Staff expenditure
- Decorating allowance
Benefits for you and your customers...
- Saves money
- Saves time
- Supports financial inclusion initiatives
- Tightens control
- Improves security
- Fully tailored around your needs
- Strengthens your organisation's identity and customer loyalty
- No major IT system developments required
- Improves customers satisfaction
For your customers:
- Immediate access to funds
- Greater convenience
- Financial inclusion
- Quick and easy
- Enhanced customer service
We'd like to show you, first hand, how The allpay Prepaid Card can benefit your housing association. You can book a demonstration now by completing the below form!
The Prepaid Visa Card from allpay is issued by R. Raphael & Sons plc (Company Registration No. 1288938) with its head office and registered office at Albany Court Yard, 47/48 Piccadilly, London, W1J 0LR (“Raphaels Bank”). The bank is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 161302’.