The Money Carer card is a unique Mastercard that is linked to a bank account that is protected by the Financial Services Compensation Scheme. The account cannot go overdrawn.
The bank account is opened in the name of the vulnerable client on Money Carers’ own banking platform, and the contactless cards can be used in exactly the same way as any other Mastercard, that is, in-store, or online, however, they are not credit facilities so can not go overdrawn.
Uniquely, Money Carer has its own dedicated banking platform with Cashplus Bank which the organisation has worked in partnership with for over 10 years. Over 250 law firms and local authorities use the Money Carer banking platform to open bank accounts and support their own vulnerable clients.