In a world where financial services often seem to cater only to a privileged few, Card One Money presents a refreshing alternative. Its mission is simple: to provide accessible banking without long applications or unnecessary barriers.
Whether you’re self-employed, have struggled with credit in the past, or just want a straightforward way to manage your money, Card One Money offers a current account and prepaid card solution designed to meet your needs.
Key information about the credit card
How does the annual fee work?
One of the most important factors when choosing a financial product is understanding the cost — and Card One Money makes it very clear. Instead of offering a “free” account with hidden fees, this service charges a fixed monthly fee of £12.50.
How is the credit limit determined?
Because Card One Money uses a prepaid model, there is no credit limit assigned by the company. Instead, the customer decides their own spending capacity by depositing funds into the account. This means no applications are assessed for risk, and no borrowing is involved.
Advantages of the credit card
- No credit checks required: Card One Money offers a straightforward way to open an account and access a Mastercard® without undergoing a credit check. This is ideal for those with limited or damaged credit histories.
- Instant account setup: Most applicants can get their account and card set up within minutes. In many cases, the physical card arrives within 24 hours, offering speed and convenience.
- 24/7 account access: Manage your account any time, from anywhere, using the online platform or mobile app. This includes features like Two-Factor Authentication for enhanced security and the ability to block your card immediately if lost.
- Cashback rewards: Earn up to 3.5% cashback at popular UK retailers. It’s a great way to get more out of your everyday purchases without doing anything extra.
- Second card option: You can order an additional card linked to your account with a fixed spending allowance — perfect for partners or teenagers (minimum age 13), offering flexibility and control.
Standout advantage
The most significant advantage of Card One Money is its inclusivity. By eliminating credit checks and simplifying the application process, it opens financial doors for those often overlooked by traditional banks.
Disadvantages
- Monthly fee: At £12.50 per month, this account may not be suitable for those seeking a completely free service.
- Limited ATM withdrawals: While UK card use is free, ATM withdrawals incur a fixed fee of £1.50 per transaction, which can add up over time.
- Not FSCS protected: The current account is not covered by the Financial Services Compensation Scheme, which may concern some users.
- No interest on balances: Since it’s a prepaid account, it does not offer interest on the money stored in the account.
- Cashback limitations: Cashback is available only at selected retailers, which may limit its usefulness depending on your shopping habits.
A standout disadvantage
The most notable downside is the lack of FSCS protection. While Card One Money is regulated by the Financial Conduct Authority and follows strict security protocols, the fact that your funds are not protected under the Financial Services Compensation Scheme could be a dealbreaker for some.
Who can apply for this card?
To apply for a Card One Money account, the applicant must be at least 18 years old and a UK resident. There is no requirement for a minimum income or credit score, making the card highly accessible for people with various financial backgrounds.
Applicants must provide valid identification and proof of address during the application process. It’s also a viable option for people who are self-employed, on benefits, or have been denied traditional banking services.
While the card is inclusive, it still requires identity verification to comply with regulations, so having the necessary documentation ready is important.
How to apply for the Card One Money Card
For the website
Applying for a Card One Money account through the official website is a quick and intuitive process. Start by visiting the Card One Money homepage and selecting the “Open an account” option.
You’ll be guided through a straightforward application that asks for your name, address, date of birth, and a few details to verify your identity and residency. There’s no credit check required, which speeds up approval time dramatically.
Most applicants are approved within minutes, and once you’re verified, your account is created instantly. A prepaid Mastercard® is then sent to your registered address and typically arrives within 24 to 48 hours. This makes the process ideal for anyone needing a fast and reliable banking solution.
Through the app
For those who prefer managing their finances on the go, Card One Money provides a dedicated mobile app available on both the App Store and Google Play. The application process through the app mirrors the website and requires similar identification documents.
Once the app is downloaded and installed, you simply tap “Open an account,” and follow the on-screen prompts to provide your personal information and proof of address. The app uses Two-Factor Authentication to keep your data secure, and all uploads are encrypted.
After successful verification, your account is activated immediately, and you gain instant access to digital banking tools. You’ll receive your physical card shortly after, completing the transition to a fully functional personal account.
At the branch
Card One Money operates primarily online and does not have a network of physical branches like traditional banks. This means there is no in-person application process available. All account applications must be completed digitally, either via the website or mobile app.
However, customer support is based in the UK and available to assist with any part of the process by phone or email. If you’re uncomfortable with online applications or need guidance, the support team is known for its friendliness and efficiency — as highlighted by numerous five-star reviews.
While the absence of physical branches might be seen as a limitation, the digital-first approach allows Card One Money to offer faster services and greater flexibility at a fixed cost, making it ideal for those comfortable with online banking.