Online eCommerce has been continuously growing in Kenya for some time with people paying for various goods and services.
These goods and services include payments for Netflix, Facebook ads, Instagram ads, Google ads, and online purchases from overseas eCommerce platforms.
You need a secure mode of payment for these goods and services.ย When you are making online payments, you can use your normal bank debit card that is connected to your account. However, most people prefer to use a separate card from their normal bank debit or credit card for security reasons. For this reason, you can also ensure that the separate card is only loaded when you need to pay for something.
Various banks in Kenya offer prepaid cards for this purpose. These cards are Visa or Mastercard branded and you are able to use them on various platforms to pay for goods and services. The cards can be loaded in Ksh. and also various international currencies.
We have compiled a list of the 4 best prepaid cards in the Kenyan market and the requirements for getting one.
1. Me Cash Prepaid Visa Card
The Me Cash Prepaid Visa Card is a product of KCB Bank. It is a Ksh. card and enables you to buy things online.
Any charges made on foreign currency transactions will be converted into Kenya Shillings at an exchange rate quoted by Visa on the date of debit.
You pay for Ksh. 516 for the card. To apply for the card you need your ID or passport. The card can be loaded via M-PESA, at a KCB Agent or any KCB branch.
2. NIC Bank Multicurrency VISA Prepaid Card
The NIC Bank Multicurrency VISA Prepaid Card can be able to be loaded with three currencies i.e. Euros, US Dollars and Kenya Shillings.
To apply for the card, you need your ID or passport (plus work permit if you are a foreigner). It will cost you Ksh. 485 and it expires after three years. If you lose the card, you will be charged a replacement of Ksh. 500.
You can load the card at any NIC Bank Branch, via online banking, through the NIC NOW mobile banking app and through Mpesa Paybill Number 445992.
3. Barclays Bank Multicurrency Prepaid Card
With the Barclays Bank Multicurrency Prepaid Card, you can be able to load up-to 9 currencies i.e. US Dollar, British Pound, EURO, South African Rand, Canadian Dollar, Australian Dollar, Indian Rupee, Japanese Yen, and Kenya Shilling.
The card costs Ksh. 465 and replacing it will cost the same amount as well. You can load the card at any Barclays Bank branch or via M-Pesa Paybill numbers 123456 or 303030. When you load the card, you will be charged Ksh. 116, which includes the SMS alert cost. There is also a foreign currency commission of 3.2% if you pay for a transaction in a currency that is different from the one on the card.
4. I&M Bank Multicurrency Prepaid Card
The I&M Bank Multicurrency Prepaid Card allows you to hold GBP, EURO and US Dollars in one card. To apply for the card, you need your National ID or Passport, copy of you KRA PIN and a recent passport photo.
The card costs Ksh. 500 and replacing it will cost the same amount. If you lose the card, you will have to pay Ksh. 500.
You can load the card at any I&M Bank branch via M-Pesa PayBill 872651. You can be able to load up-to US Dollars 10,000 on the card.
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