Kalixa Pay is a new prepaid MasterCard and eAccount. I was invited to set up an account recently and have since found the card to be a practical addition to my wallet’s somewhat limited arsenal of plastic. For specific budgets, one-off projects, special occasions and travel, I reckon Kalixa Pay is an ideal option for managing how much you spend.
Essentially, the Kalixa card works just like a debit card. Except unlike a debit card, when the account runs out of money, that’s it: no overdraft, no minimum balance. It can be used all around the world – wherever the MasterCard acceptance mark is displayed – both to shop in stores and withdraw cash from ATMs. And because it’s a prepaid card, there’s less chance of going into debt like with a credit card), or giving fraudsters direct access to your bank or credit card accounts.The online account interface is straightforward and, for me anyway, has proved a lot quicker to update than my online banking current accounts do.
A few weeks back,, I tried out my Kalixa card at the pub during a birthday get-together for my girlfriend. I figured out what I would be able to spend toward the festivities and loaded that amount to my Kalixa account straight from my banking current account (instantly and securely via the web) and was ready to go. Obviously, I needed to keep track of my spending and asked for a tab update from the bartender. At the end of the night, there was actually a bit of money left on the account. With that, I’ve used the card as I normally would have done with my debit card – for groceries, little treats (see frozen yoghurt pic above) … things like that.
There’s a one-time £6.95 charge to set up a Kalixa Pay account and receive your card. And there’s one bummer that I’ve come across: ATM fees. It’s £1.75 per domestic ATM withdrawal and £2.25 for withdrawals abroad – nothing exorbitant but mildly annoying. I suppose the benefits outweigh the costs though. For example, Kalixa offers the best available currency exchange rates with no FX fees. Account holders get receive free SMS and email transaction alerts and weekly balance alerts too. All the many features along with the very few fees are laid out at kalixapay.com.
I fully intend to continue spending with Kalixa. I can see my card coming in handy next time I’ve got a work-related budget that I’d rather not mix up with the rest my expenditures. And the card no doubt be utilised the next time I travel internationally.
