Monaghan Life.ie is delighted to announce the launch of their very own Prepaid MasterCard product in conjunction with Rubycard. This coincides with the first birthday of Monaghan Life.ie. The card is a prepaid MasterCard offering users all the power and function of a MasterCard with none of the bank charges, late fees or credit facility that so many have being trying to avoid of late in the current credit crisis. It has all the features of a regular credit card without the debt as well being full chip and pin. Behind the card is a full online bank account allowing users to track their spending, check their balance and control their account. The facility is feature loaded with many functions being available to the holder via SMS. The card has a 100% approval rate and is ideal for individuals, families and businesses alike looking for a new way to control their spending. The card is now  available  – details available on www.monaghanlifecard.ie and www.monaghanlife.

Overview Document

What is a prepaid card?

It’s hard to imagine life without a credit or debit card – they are vital for everything from shopping online and buying tickets for events, to booking cheap flights and hotel rooms.

A prepaid card is a fantastic alternative if you don’t already have a card or you just want a safe and quick way to pay for just about anything – over the phone, online or when you’re travelling. There are over 70 prepaid MasterCard products in the UK and now finally there is a fully personalised MasterCard in the Irish Market, The Rubycard is here.

A Prepaid looks and works like a credit or debit card. With a Prepaid card you don’t have to pay interest or penalty fees.

Our Rubycard leads the way

On top of all the usual features above, our card is the first Prepaid Card to offer all this in Ireland. Here’s what makes Rubycard special:

• 100% instant approval* – no bank account needed, no credit checks or application hassles
• You can use up to €2,000 on your Rubycard in any one year without having to provide ID or proof of address. If you want to spend above this amount you just need to provide the normal ID and proof of address.
• Everyone benefits – from bargain hunters looking for Cashback, to travellers, new arrivals in Ireland to the debt wary.
• There are lots of uses – from shopping online and booking tickets to making withdrawals and paying in wages*.
• It is great for personal and business users.
• Enhanced security – with Chip & PIN technology, fraud protection and no link to your bank account.
• Creditbuilder® – designed to build or improve your credit rating at no extra cost.
• Free Purchase Protection – against damaged or undelivered goods, or the company going bust.
• Personalised Prepaid Card.

It’s the great alternative to a credit card

• No credit checks.
• No links to your bank account.
• No interest or penalties to pay.
• No contracts or tie-ins.

It’s simple

Our Rubycard works just like a "pay-as-you-go" mobile phone or just like a normal bank current account. The card can be topped up with cash at any PayPoint or Payzone location, online through your bank or in branch. You can even have your employer pay your wages onto the card.

Because the Card is a Prepaid Card, your spending limits are set by the amount of money you load onto the card. When you make a purchase with the card, the purchase amount is deducted from the card balance. You cannot spend any more than the current balance.

You can view your balance and transaction history online 24 hours a day and even receive the current balance via SMS.

It’s MasterCard – it’s accepted:

• In 28 Million locations throughout the world.
• Thousands of ATM’s across the world.
• Safely and securely on the internet.
• To make flight or train reservations.
• To book hotel rooms.
• For overseas transactions.
• To buy groceries & petrol.
• To share money with friends and family abroad.
• And to top up your mobile phone.

It’s MasterCard – it’s safe:

Our Rubycard is safer than carrying cash as it is protected by chip & PIN technology. When cash is lost, it is gone forever. However, if your Card is ever lost or stolen, you can receive a replacement card within days. Nevertheless you should look after your card with the same care as you do your cash, never reveal your PIN to anyone else and immediately tell us if you think that your card is lost or stolen to avoid any loss of the funds on your card. Rubycard is a MasterCard and as such is covered by the MasterCard guaranteed, that is if your card is stolen or the numbers are used by someone else you are not liable for the expenditure, the money will be refunded to your card.

It’s easy to get and ideal for:

• People who don't want to go over their budget or limit their spending.
• People who don't want to use their credit card for internet purchases.
• Parents wishing to support their children at university in a controlled and budgeted way.
• People who regularly send money to friends or family abroad.
• People with damaged or no credit history.
• Foreign nationals that may have difficulty opening an IRISH bank account.
• For people who want to control and budget their spending.

You set your spending limits by the prepaid amount loaded onto your card. You also can log onto the web site to review your spending. Your Card makes it easy to get your spending under control and shop wisely.

• For people who want to shop or purchase online

The popularity of the Internet makes it difficult to use cash for all of life’s transactions like booking a flight or train ticket, reserving a cinema seat, and buying products online. The Card allows you to access all these things in the knowledge that your transactions are safe and secure.

• For people who regularly share money with friends or family abroad

You can use your Card to share money with people who live abroad very cheaply – at best in the market rates. Just order a secondary card (Companion Card), and then post this to your family member or friend. Then you can share your money with them. They will be able to spend using the card or make cash withdrawals from ATMs in their home country. Sharing money within one transaction will only cost €1.00, regardless of the amount.*

• For people with damaged or no credit history

Getting a spending card has never been easier than the Rubycard™. Your approval is 100% guaranteed once you meet the minimum identification requirements. There will be no credit checks or employment verification. You don’t even need a bank account!

• For foreign nationals

Getting a bank account in Ireland can be very difficult if you are a foreign national residing or working in Ireland. With the Card approval is 100% guaranteed and you will enjoy all the function and benefits of having an online bank account.

• For People Who Travel Regularly with Ryanair

Currently there is a charge of €5 per person per flight for booking a Ryanair flight when paying by Credit Card of Visa Debit. Rubycardallows you to book a Ryanair flight with no Credit Card fees saving you €5 per person per flight.