Can I pay using Finance with a Prepaid Visa Card?

[jimi]

Is it possible to pay for items via the internet using the Finance payment option using a prepaid via card? :rolleyes:

[Casanova]

yes as long as a card has a logo advertised it's fine. Prepay master or visa cards are quite good. Alot of sites give you cashback or discounts and they're good for watching your budget.

I should really get one! I spent my wages like money's out of fashion!

[jimi]

But finance means paying in monthly segments. For example if I wished to purchase a computer costing 500 pounds I would pay 24.99 pounds per month. Are you sure I am able to pay using a prepaid Visa card?

[LouisCollins]

No, In order to get finance firstly you must be 18, Secondly it's setup on a DIRECT debit, So automaticly takes the payments each month, You can defiantly not use a prepaid visa,

[Kieran]

Louis has it exactly right. They will definitely not accept any form of prepaid card. It will get taken by either a Direct Debit or standing order every month and failure to pay would result in legal action being taken against you or if your under 18, your parents

[jimi]

Forest, what do you mean by a standing order?

[Kieran]

A standing order is a similar process to that of a direct debit. A standing order is of a set amount whereas a direct debit can have its amount altered by the collecting company.

[LouisCollins]

A Standing Order (or a Standing Instruction) is an instruction a bank account holder gives to their bank to pay a set amount at regular intervals to another account. The instruction is sometimes known as a banker's order.

Same as a direct debit but you set this one up you're self, Direct debit is done by the company.

Forest, what do you mean by a standing order?

[jimi]

So say if I put money in my bank account just before my payment is due for the item, and then I tell the bank to pay the company a set price? can that be done?

[Kieran]

You wouldn't tell them. The company taking the money would tell the bank. For example:

If you buy something at £24.99 a month, then the company will say to the bank: On this day of the month I want £24.99 to leave this account and be deposited in our accounts. As long as you have the money in your account to cover it, then it's fine. As was said however, you do need to be 18 to agree to a finance deal. Generally, you end up paying a LOT more for the product.