Why Get a Prepaid Credit Card in Germany?
The benefits that come with a prepaid credit card make it a must-have for everyone. Following are some benefits of prepaid credit cards in Germany.
Large International Payments
When making an international purchase, a prepaid credit card helps you follow a smooth payment procedure. Particularly, when you have to go through large payments, prepaid credit cards make the procedure easy for you.
A prepaid credit card allows you to withdraw money from all the ATMs worldwide.
For online payments, your prepaid credit card is the best payment option.
Protected and Secure
A prepaid credit card provides you with great consumer protection. It enables you to recall your payments for up to eight weeks in case of false payments.
With a prepaid credit card, you spend the credit you have on your card. This eliminates the chances of overspending and is thus a great way to remain within your budget.
The Assessment Criteria to Find Best-Prepaid Credit Card in Germany
When looking at myriads of options available, you may get confused about which one is the best. Following are some parameters that you should keep in mind while getting a prepaid credit card in Germany.
Some cards are free of cost i.e., they have no issuance fee. However, they may have high annual costs. The issuance fee is all about the setup and purchasing cost.
English Customer Service
When dealing with your finances, it’s hard to trust a company. So make sure to contact a company that provides excellent customer service in English. This will help you stay in touch with the company whenever required.
Maximum Balance Limit
This limit sets the restrictions on the amount of credit you can load on your prepaid cards. Some cards come with no load limit. If you are not going to use your card too often, then a lower load limit will never cause you a hassle. However, for excessive usage, a card with no such limit will be best for you.
There are many extraneous costs associated with prepaid cards i.e., recharging costs, withdrawal costs, foreign currency fees, etc. keep all these costs in mind while choosing the best-prepaid credit card in Germany.
Make sure that you can get the card with much ease and comfort. The quick online registration process offered by many card providers is a good option for getting a prepaid card easily.
How to Open a Bank Account & Get a Prepaid Credit Card
If you want to open a bank account to get a prepaid credit card, then you need to have some documents with you when applying. These documents include proof of registration, passport, or proof of national identity. If you are a student, then you will be required to submit the student registration proof. In some cases, income proof is also required by some banks.
Best-Prepaid Credit Cards in Germany
Here we have listed some of the best-prepaid credit cards in Germany.
1- Mastercard VIABUY
2- Mastercard Black&White Card
3- Commerzbank Prepaid Mastercard/VISA
4- Bunq Mastercard
Quick Comparison Between the Best-Prepaid Credit Cards in Germany
If you are in hurry, then no problem. Here is a table giving you a quick overview and comparison of the best-prepaid credit cards in Germany.
Mastercard VIABUY Black&White Mastercard Commerzbank Prepaid Bunq Mastercard Payango Card
Issuance Fee 69.9 € 89.9 € No fee No fee 25 €
Annual Fee 19.9 € No fee 39.9 € 2.99 € 25 €
Recharging Fee 0.9 % 1.5 % No fee when recharging via bank transfer - No fee when recharging via bank transfer
Foreign Currency Fee 2.75 % 2.49 % 1.75 % No fee 1.5 %
Cash Withdrawal Fee 5 € 4.99 € 1.95 % 0.99 € 2.0 %
If you want to enjoy an effortless application process for a prepaid card, then Mastercard VIABUY is a good choice for you. For issuance, you will be required to pay a fee of 69.90 Euros. After the issuance fee, there comes the annual fee of 19.90 euros.
If you recharge your card via SEPA bank transfer, you will have to pay a recharge fee of 0.9%. for purchasing items in euros, you will not have to pay the fee. While for foreign purchases, the fee is 2.75%. For the cash withdrawal from the atm, you will be paying 5 euros no matter in which currency you are making the withdrawal.
✅ The application process is effortless and quick.
✅ The quality of the card is assured.
✅ It doesn’t require any income proof or credit check.
⛔ If you remain inactive for more than 12 months, then you will have to pay the fee of 9.95 euros/month.
Mastercard Black&White Card
When it comes to quality, this card ranks on the list of prepaid cards in Germany. The process to apply for this card is super-easy as it hardly takes 3 to 5 minutes. To issue this card, the bank will charge a fee of 89.90 euros. However, this is a one-time fee and you will not have to pay for it again.
After you have received the card, you will have to pay recharge fees of 1.5% on each recharge. When purchasing in euros, you can shop for free without any charges. However, when dealing in foreign currency, you will have to pay a 2.49% fee. The cash withdrawal fee of this card is fixed no matter whether you are withdrawing local or foreign currency and this fee is 4.99 euros.
✅ The card is valid for 3 years
✅ The online application process is very quick and smooth.
✅ You will not have to pay the annual fee.
✅ No compromise on the quality of the card is made.
✅ It doesn’t require any salary checks.
✅ Cheap to buy
⛔ It doesn’t offer any travel insurance or special discounts.
Commerzbank Prepaid Visa/Mastercard
With the Commerzbank, you have the freedom to choose whether you want a Prepaid VisaCard or a MasterCard. With this card, you have to pay a high annual fee of 39.90 euros. If you recharge your card via bank transfer, you can enjoy free recharging. For the cash withdrawal, the fee is 4.95 euros.
It doesn’t come with embossing and therefore it seems distinctive from usual credit cards.
✅ Recharging is free when done via bank transfer.
✅ Customer service is available in English.
✅ It looks distinctive and therefore easily locate in your wallet.
⛔ A cash withdrawal fee is associated with this card.
Bunq Travel Card
Bunq Mastercard requires you to follow a quick 5-minute application procedure. The annual fee of 2.99 Euros is associated with the Bunq Mastercard card. Money transfers are free of cost. Also, the payments done in euros are free. And the best thing about Bunq is that it offers you free non-euro payments as well. The cash withdrawal fee is fixed worldwide and that is 0.99 Euros.
✅ The annual fee is relatively low as compared to other cards.
✅ Foreign currency payments are free of cost.
✅ The cash withdrawal fee is relatively low.
✅ No credit checks.
✅ 5-minute quick application procedure.
The Visa card of Payango is a debit card in actuality. However, it is capable to function as a prepaid card. The online process of application is easy, quick, and simple. The issuance fee of this card is relatively low i.e., 25 Euros. It is a one-time fee. However, you will have to pay the annual fee of 25 Euros.
The fee for foreign currency payments is 1.5%. For cash withdrawals, you will have to pay a fee of 2%.
✅ The card is valid for four years.
✅ The card has a relatively low issuance fee as compared to others.
✅ When recharging via bank transfer, no fee is charged.
⛔ An annual fee is required.
When looking for a prepaid credit card in Germany, you will hardly find the one having no fee. Different costs are associated with different cards. Now it’s all up to your usage requirements that which one suits you the most.
If you are in search of a detailed guide about getting a free credit card in Germany, then we are here to rescue you with a complete guide in this regard.
Frequently Asked Questions
How much time will it take to apply for a prepaid credit card in Germany?
Is there any prepaid card that comes without the Credit Score (SCHUFA) check?
Yes, prepaid credit cards have nothing to do with your credit history (SCHUFA). There will be no need for a bank statement while applying for a prepaid credit card. Such cards which never require a credit check include VIABUY and Blakck&White Mastercard.