Best prepaid solution for giving money to family member

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Praemon

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So I have a family member who I'm helping financially and looking for a way to better control the funds given to them. It's mainly for things like groceries, medication and odd expenses that come up. Unfortunately they've made many poor financial decisions in the past, and while they've improved a lot, I don't really want to just give them cash. So can anyone recommend a good prepaid solution where I can give them a prepaid card or similar but can be used at most shops? (they don't do anything online)

I'm thinking something along these lines:
  • Standard Bank Virtual Card - then buy them a phone that works with NFC to load and use it for tap and pay. While it has an upfront cost of a new phone and may not work everywhere, there's no further fees on the virtual card. My only worry is if there will be any issues that the card is being used on a different phone, but not sure that's an issue.
  • Prepaid Gift Card - there's a few places that offer them, but they're either not reloadable or have really high fees (around 10%+ per top-up).
Anyone else in a similar situation and have a suggestion, or thoughts on the above?

Thanks!
 
Praemon said:
So I have a family member who I'm helping financially and looking for a way to better control the funds given to them. It's mainly for things like groceries, medication and odd expenses that come up. Unfortunately they've made many poor financial decisions in the past, and while they've improved a lot, I don't really want to just give them cash. So can anyone recommend a good prepaid solution where I can give them a prepaid card or similar but can be used at most shops? (they don't do anything online)

I'm thinking something along these lines:
  • Standard Bank Virtual Card - then buy them a phone that works with NFC to load and use it for tap and pay. While it has an upfront cost of a new phone and may not work everywhere, there's no further fees on the virtual card. My only worry is if there will be any issues that the card is being used on a different phone, but not sure that's an issue.
  • Prepaid Gift Card - there's a few places that offer them, but they're either not reloadable or have really high fees (around 10%+ per top-up).
Anyone else in a similar situation and have a suggestion, or thoughts on the above?

Thanks!
Click to expand...
I'd go with PnP/Checkers vouchers. They should be able to get most of what they need there
 
Speedster said:
I'd go with PnP/Checkers vouchers. They should be able to get most of what they need there
Click to expand...

I did initially do something similar. The problem is their closest (and cheapest store) is Spar which doesn’t accept digital vouchers, and their physical cards are not reloadable. It’s also limited to places that has vouchers.
 
Praemon said:
So I have a family member who I'm helping financially and looking for a way to better control the funds given to them. It's mainly for things like groceries, medication and odd expenses that come up. Unfortunately they've made many poor financial decisions in the past, and while they've improved a lot, I don't really want to just give them cash. So can anyone recommend a good prepaid solution where I can give them a prepaid card or similar but can be used at most shops? (they don't do anything online)

I'm thinking something along these lines:
  • Standard Bank Virtual Card - then buy them a phone that works with NFC to load and use it for tap and pay. While it has an upfront cost of a new phone and may not work everywhere, there's no further fees on the virtual card. My only worry is if there will be any issues that the card is being used on a different phone, but not sure that's an issue.
  • Prepaid Gift Card - there's a few places that offer them, but they're either not reloadable or have really high fees (around 10%+ per top-up).
Anyone else in a similar situation and have a suggestion, or thoughts on the above?

Thanks!
Click to expand...
Using the virtual card on another phone isn’t an issue in my experience.
 
Praemon said:
So I have a family member who I'm helping financially and looking for a way to better control the funds given to them. It's mainly for things like groceries, medication and odd expenses that come up. Unfortunately they've made many poor financial decisions in the past, and while they've improved a lot, I don't really want to just give them cash. So can anyone recommend a good prepaid solution where I can give them a prepaid card or similar but can be used at most shops? (they don't do anything online)

I'm thinking something along these lines:
  • Standard Bank Virtual Card - then buy them a phone that works with NFC to load and use it for tap and pay. While it has an upfront cost of a new phone and may not work everywhere, there's no further fees on the virtual card. My only worry is if there will be any issues that the card is being used on a different phone, but not sure that's an issue.
  • Prepaid Gift Card - there's a few places that offer them, but they're either not reloadable or have really high fees (around 10%+ per top-up).
Anyone else in a similar situation and have a suggestion, or thoughts on the above?

Thanks!
Click to expand...
Careful not to tick over the donations tax threshold
 
They are going to leech off of you for the rest of your life and drag you down with. Cut them off and let them sort their own life out.

They will find loopholes to whatever solution you try to find, get them a gift card, and they will just sell it to someone else for cash, let them use your virtual card and they will just buy stuff for people in return for cash..

Just cut them off, you can’t help someone who has money addiction or someone who can’t manage finances.

They are going to make a fool out of you.
 
A fool and his money are soon parted..

No good deed goes unpunished..

Pick your saying....
 
WAslayer said:
A fool and his money are soon parted..

No good deed goes unpunished..

Pick your saying....
Click to expand...

Tough but true.

That said, I can envisage why OP is doing this (probably kids and such involved).

Life is hard

Edit: My mom was a widow of limited means and up to the point where myself and my brother were able to start contributing to household finances, one of my uncles arranged for a two-weekly delivery of fruit and veg and basic groceries (he owned a supermarket) - that was a lifeline for us and we remain grateful to him to this day (may he RIP).
 
Praemon said:
So I have a family member who I'm helping financially and looking for a way to better control the funds given to them. It's mainly for things like groceries, medication and odd expenses that come up. Unfortunately they've made many poor financial decisions in the past, and while they've improved a lot, I don't really want to just give them cash. So can anyone recommend a good prepaid solution where I can give them a prepaid card or similar but can be used at most shops? (they don't do anything online)

I'm thinking something along these lines:
  • Standard Bank Virtual Card - then buy them a phone that works with NFC to load and use it for tap and pay. While it has an upfront cost of a new phone and may not work everywhere, there's no further fees on the virtual card. My only worry is if there will be any issues that the card is being used on a different phone, but not sure that's an issue.
  • Prepaid Gift Card - there's a few places that offer them, but they're either not reloadable or have really high fees (around 10%+ per top-up).
Anyone else in a similar situation and have a suggestion, or thoughts on the above?

Thanks!
Click to expand...


You can buy a variety of digital vouchers from https://simcloud.co.za

(I built it so if you need help just shout)
 
Virtual cards are awesome and our whole family does this. When we travel we have the same card on 4 phones all being used daily.

You also do not have to worry about donation tax as this would be excluded under maintenance.
 
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