Cashplus prepaid Gold MasterCard Deluxe account – Review

In order to help you decide if the Cash Plus account is suitable to meet your needs, we thought that you would welcome a review of it. This covers things like the features and benefits of the account such as the prepaid debit card that is provided as well as how to apply to open one. Both the Current account, and the Cashplus business account are reviewed, and we’re sure that you’ll find this helpful if you are looking into opening one.

Features at a glance

  • Pay your bills by direct debit or standing order.
  • Make one off payments by utilising the online Payments and Transfers service.
  • Issue of a MasterCard that can be topped up by a variety of means.
  • Withdraw cash from ATMs.
  • An overdraft facility of up to £250.
  • Manage your account online.

What is a cashplus account?

Quite simply, it is a current account and provides many of the services offered by a high street bank current account that we will cover later.

Who can apply for a cashplus account?

Anyone who resides in the UK and is at least 18 years of age – even those people with a bad credit rating are able to apply for basic bank accounts.

How do you open a cash plus account?

It only takes a couple of minutes to apply online by completing a simple application form.

No credit check is made on you so you are guaranteed to be accepted even if you have been declared bankrupt as long as you can be suitably identified and your address verified which are usually done by electronic means.

What features does the mycashplus account provide?

You can have your salary, wages, pension or state benefits paid directly into the Cashplus Current Account. You can also pay cash into the account at numerous locations such as the Post Office or The Money Shop.

You can pay regular bills such as your mortgage, rent, utility bills and insurance policies by either direct debit or standing order. You can also make one off payments by utilizing the Payments and Transfers service.

You also receive a prepaid Cashplus Gold MasterCard that can be topped up by a variety of means such as through a bank current account, by standing order, or at numerous Cashplus stores. This card can be used to pay for goods and services either online, over the phone or in retail high street outlets. It can also be used to withdraw cash from ATMs and can be used overseas.

An overdraft facility of as much as £250 may also be available.

It is even possible to manage your account online.

You do not get a cheque book.

What are the charges and fees?

A one-off fee of £5.95 is charged to issue the card. There is a monthly administration fee of £9.95 for the account but this is waived if there is nothing in your account. There are no charges for withdrawing cash from ATMs in the UK.

Other charges may apply which you can find details about on the mycashplus website.

Is there the option to open a cashplus business account?

If you are a business owner and have a poor credit history then you may wish to consider the Cash plus Business Account, as no credit checks are undertaken when applying.

You can make purchases at trade stores, both in the high street, by phone, and online.

You can also withdraw cash at many ATMs using the Cash Plus Prepaid Business MasterCard, both in the UK and overseas.

Not only can you pay cash into cashplus business accounts through over 12,000 outlets in this country and arrange to have monies transferred directly into your account, but also you can pay your business’ regular bills by direct debit and standing order. You can even manage your business account online 24/7.

However, you are not permitted to pay cheques into your account and no cheque book is available.

There is currently an annual fee of £99 for the account – For other fees please refer to their website.


The Cash Plus account is one of several similar bad credit bank accounts offered by a number of providers that may be ideally suited to those people who, for whatever reason, have got into financial difficulty. The fee-paying current account provides a similar level of service to that provided by a number of the high street banks and building societies, as does the cashplus business account.