Pre-paid Mastercards are not a very consumer friendly item to begin with, but IDT’s “Sigo” pre-paid Mastercard takes the cake. Some of the fees involved:
Monthly Fee $2.95
Overdraft Fee $25.00
PIN Based Purchase $0.50
Each Optional Monthly Paper Statement $5.00
Card Closure Fee $10.00
ATM Cash Withdrawal – Domestic $1.50
If that wasn’t enough, their “Confidentiality” clause functions like a screen door on a submarine, letting a flood of IDT affiliated marketing into your home.
“We may disclose information to third parties about your Card or the transactions you make: To our employees, auditors, affiliates, service providers, or attorneys as needed.”
And then there’s the “Privacy and Data Protection” clause:
We may use Cardholder Information to provide Customer Service, to process claims for lost or stolen Cards, to develop marketing programs, to help protect against fraud and to conduct research and analysis, or as otherwise required by law. In addition, it is often necessary for us to disclose Cardholder Information for the same purposes to companies that work with us. For example, we may provide certain Cardholder Information to companies that perform business operations or services, including marketing services, on our behalf.
Don’t give your info to a company like this, and don’t pay outrageous fees for a pre-paid mastercard!—MEGHANN MARCO
Terms and Conditions [Sigo Money]