Osper Review | November 2024 | DebitCardGuru.com

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THE OSPER CARD

BACKGROUND INFORMATION

FOUNDED: 2012

COMPANY NO: 07958759

CURRENCIES: GBP

ATM LIMIT: £50 per day, £150 per day premium

ATM FEE: FREE

PREMIUM OPTION: Yes

APP: iOS & Android

CUSTOMER SUPPORT: Email & Telephone

IBAN: NO

MONTHLY FEE: 1 Month FREE then £2.50 per card, per month

TRANSFERS: Yes

LOADING OPTIONS: Bank transfer or Debit Card

CARD DELIVERY CHARGE: £4 if lost or stolen

GET 1 MONTH FREE!

What Is Osper?

Osper is an online banking and money management system aimed at families. With Osper, children get to own and use their own card. Their parents can add an allowance to their card, which can be used as an alternative to cash-based pocket money. The card is also linked to an app, which can be used to view transactions and more. The app can be used by children and their parents. This prepaid debit card has been advertised in the media by Davina McCall and aims to help children manage their money more effectively and avoid wasting it.

How Does Osper Work?

To get up to four cards per household, simply complete the form on the Osper order page. Kids must be aged between 8-18 to be eligible for an Osper card. The card needs to be activated before money is added to it. It’s possible to set up either a monthly or weekly allowance, though this can be stopped for any reason, such as bad behaviour. Instant payments can also be made. Parents may wish to make these in emergencies or when their children have been particularly well-behaved. Kids can only spend money that has been loaded onto the card, and their parents can see how much they have spent and where they spent it. They can also set up a monthly savings facility, so a portion of their funds is saved every month. The cards work in all outlets where MasterCard is accepted, except those that have been listed as inappropriate vendors such as pubs and so on.

Key Features of Osper

Many parents have chosen Osper due to the way it gives their children more financial freedom whilst keeping them safe and helping them manage their money. Merchants can be blocked to stop kids spending money on unsavoury services. Parents can also choose whether to allow online shopping. There are no overdrafts, and texts are sent out when attempted payments are declined. Spending limits can also be set, and the app offers a real-time overview of card activity.

How Much Does Osper Cost?

The first month of Osper is free. After this initial period, the cost rises to £2.50 per child, per month. Osper can be cancelled at any time.

The Osper App

Different apps for children and their parents are available. The kids’ app allows them to spend and safely wisely whilst keeping track of what where their money is going. Parents can use their own app to set allowance, oversee spending, load extra money onto the card for emergencies and treats and lock the card if has been lost or stolen.

Is Osper Safe and Secure?

Osper comes complete with various safety and security features. Many parents require ways of allowing their offspring to access cash whilst maintaining control over what it is spent on. There are no overdrafts, so kids can’t spend more than the money in their account. The app delivers total transparency so transactions can be monitored in real-time. The Osper Team consistently monitor usage for unusual activity, and daily load and withdrawal limits are also in place. The cards won’t work in places like bars, casinos, online gambling sites and other inappropriate spending environments. Online spending can be blocked, and kids and adults can report lost and stolen cards. The cards can be unlocked if they are located again.

Advantages of Osper

Many families love the way the card gives kids more financial freedom whilst blocking inappropriate purchases and overspending. There are many security features to take advantage of, and the cards come with chip-and-PIN functionality. Money can instantly be loaded on to the card in the case of an emergency. This makes it ideal for situations where kids find themselves stranded miles from home with no cash. Sign-up only takes a few minutes, and identity checks take place online. This means there is no need to visit a bricks-and-mortar bank to get everything set up. The apps are intuitive and simple to navigate for parents and children alike.

Disadvantages of Osper

Some parents may find the £2.50 per child, per month cost of Osper rather high. It’s also theoretically possible for children to attempt to purchase alcohol with the cards if they visit an establishment listed as a restaurant – however, the staff are legally obliged to ask them for ID to prove their age before they serve them. If your child doesn’t have an Apple or Android device, they won’t be able to access the app. Your child will also need to be aged at least 8 to use Osper.

Conclusion

It’s clear to see why more and more parents have been choosing Osper over other prepaid card services. Leaving Osper is also a simple process if you are unsatisfied for any reason – parents can simply send an email to help@osper.com from the email they signed up with. Remaining money will then be refunded to your debit card.

If your child or children do want to make purchases when they are out and about, Osper could be the ideal solution. Cash is generally more likely to be lost than a simple card. What’s more is that cards can quickly be blocked if they are lost or stolen, whereas there is no way of stopping someone spending cash that has fallen into the wrong hands. More and more kids are now buying products and services online, and a prepaid card enables them to take full advantage of the online purchasing boom.

It’s not possible to see what your child has been spending physical cash on or how much they have spent. It is also hard to get physical money to your child in an emergency. Giving a child their own card is also much less dangerous than handing your own card to them – we’ve all heard many horror stories of kids running up four or five-figure sum bills for services linked to their parents’ cards.

Prepaid solutions like Osper also allow kids to start boosting their money management skills at an early age and appreciate the value of money. If you have been searching for the right prepaid facility for your child, Osper may well be the solution.