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Prepaid MasterCard FAQs

1. What is the First Citizens Prepaid MasterCard Card?
The First Citizens Prepaid MasterCard Card is a very convenient payment alternative to cash and credit cards, utilizing the customer’s funds rather than the Bank’s funds as credit cards do. This prepaid card is reloadable and can be used for purchases (online and at merchants) and cash advances, locally and internationally.


2. How is a Prepaid Card different from a Credit Card?

A customer simply purchases a Prepaid Card whereas a customer applies for a Credit Card. A credit card application involves credit assessment and credit checks in order to approve the application. Neither credit checks nor credit assessment is required for a Prepaid customer.


After purchase a Prepaid Card can only be used when the customer loads money onto the card. On the other hand when a bank approves a Credit Card, the Bank gives the customer funds to spend in the form of a line of credit on a card which is available once the customer receives the card.


Once a Credit Card is used and a balance is outstanding as at the date the statement is generated, the customer is required to make a payment, and this is due by a stated payment due date. This payment is mandatory in order to maintain a clean credit rating.


With a Prepaid Card, since the customer is using his/ her own funds there is no “payment required” nor “payment due date”. However overdrawn balances on the customer’s Prepaid Card account may be set-off, combined or consolidated with credit balances on the customer’s other accounts held with the Bank. Very simply, purchase the Prepaid Card, load funds, use the funds and then reload with your funds when you need to increase the available funds on the Card.
 

 

3. How is a Prepaid Card different from a Gift Card?
A Gift Card is a type of Prepaid Card. However a Gift Card is a non reloadable prepaid card. This means that once the funds received in the card in the form of a gift has been depleted, the customer cannot “top up” the card with any more funds. First Citizens is offering a reloadable Prepaid Card as described in Question 2 above.

 

4. How does the First Citizens Prepaid MasterCard work?
The First Citizens Prepaid MasterCard is a reloadable prepaid card.

  • The customer loads / reloads funds onto the First Citizens Prepaid MasterCard and is available for use for purchases and cash advances, locally and internationally.
  • As the customer spends or withdraws cash the available funds decrease.
  • Once the customer reloads the Card with more funds he/ she will then have more funds available to spend.

The First Citizens Prepaid MasterCard customer can choose to load the card immediately at the time of purchase or can choose to load the card anytime after.

 

5. What are the benefits of a Prepaid Card?

  • Great alternative to cash and credit cards for international travel
  • Great alternative to credit cards for online shopping
  • Makes sending money to your family and friends abroad easier than ever!
  • Easy control….Spend what you can afford and avoid debt
  • Hassle free…..use just like a credit card but with no interest charges, no annual membership fee and no “payment due date” to remember that impacts the customer’s credit ratings


6. Who can benefit from a First Citizens Prepaid MasterCard?
Anyone can benefit from a First Citizens Prepaid MasterCard!

This card would be especially favoured at peak travel times by persons who do not want or may not qualify for a credit card. Also, on an everyday basis, persons who need to send money to family and friends abroad through costly money transfer services will surely love the First Citizens Prepaid MasterCard.

 

7. How does the First Citizens Prepaid MasterCard make it easier to send money to your friends and family abroad?
Once the Prepaid Card number is known (the number that is embossed on the face of the card), anyone can “top up” the card at a First Citizens branch, via First Citizens Online Banking or via the First Citizens Telebanking Service.

In terms of Online Banking the card will need to be added under the Bill Payment section, as a Standard Payee, in the same manner customers add credit cards that they wish to pay on the Online Banking Service. A similar action will be done on Telebanking, under Option 1, the Self Service Option where the Prepaid card can be added under the Bill Payment sub menu.

Therefore once a person abroad is in possession of a Prepaid Card, anyone who knows the card number e.g. parents can “top up” the card with funds at a First Citizens branch, or by using either the First Citizens Online Banking or Telebanking Service.

 

8. If someone is abroad, can he/she purchase a First Citizens Prepaid MasterCard?
No, given the requirement that the customer must purchase the card upfront at a branch, these requests will not be facilitated.

 

9. How secure is the First Citizens Prepaid MasterCard?
As with any other card, you play a key role in ensuring the safety of your card and therefore your funds. The First Citizens Prepaid MasterCard uses both signature and PIN for your safety.

 

10. How do I obtain a First Citizens Prepaid MasterCard? What are the requirements?
The First Citizens Prepaid MasterCard can only be attained by customers who have an active deposit or loan account at First Citizens for a minimum of 12 months. Secondly, the Prepaid card is only available to Nationals/ Residents of Trinidad and Tobago, and holders of a valid Work Permit to Trinidad and Tobago.
The Prepaid card is available for purchase at First Citizens branches.
To obtain the card an application form is to be completed, a one time fee paid and the following documents provided.

  • 1 form of identification, once it has the enhanced security features. The accepted forms of identification are: national passport, electoral identification and drivers permit. (2 forms are required if none of the identification presented bears the enhanced security features)
  • Proof of address, typically a utility bill not more than 3 months old
  • Job letter and payslip: where a job letter is more than 1 month old, but less than 3 months, a 1 month old salary slip (and vice versa) will also be required to support the employment and most recent income

 

11. Where and how can I use the First Citizens Prepaid MasterCard?

The card can be used for purchases (including online) and cash advances locally and internationally. In line with international standards, the First Citizens Prepaid MasterCard applies Authorisation Holds in certain situations. Detailed information on this is provided at this link . Please note that fees and authorisation holds are subject to change by the Bank from time to time.
 

12. What are the fees on a Prepaid Card?

  • One time card fee of TT$180, card is valid for 2 years
  •  Additional card fee, replacement card fee – TT$70 per card
  • Load/reload fee of 1.15% of the load/ reload dollar value
  • Local purchases: Free
  • Local ATM withdrawals at First Citizens and non First Citizens ATMs: TT$7 
  • International & Online purchases: international processing fee of 2% of the transaction value
  • International ATM withdrawal: (i) TT$15, (ii) any charge by the Bank whose ATM is being used and (iii) international processing fee of 2% of the withdrawal amount.
  • Refund or Cash Out fee of TT$20
     

 

13. Who can purchase a First Citizens Prepaid MasterCard?
Persons 18 and over can purchase a First Citizens Prepaid Card. Applications to purchase the card will be reviewed in line with the Bank’s anti money laundering policies.

 

14. Who can be an additional cardholder on a First Citizens Prepaid MasterCard?
Additional cards issued on the Prepaid Card product will only be allowed for minors aged 16 and 17. Persons seeking to have an additional card for someone aged 18 years and over will be advised that the individual will need to acquire their own Prepaid Card.
 

 

15. How many First Citizens Prepaid MasterCards can be purchased by one customer?
The principal Cardholder can only purchase one First Citizens Prepaid MasterCard.

 

16. How many additional cards are allowed on a First Citizens Prepaid MasterCard?
A First Citizens Prepaid MasterCard account allows up to 5 cardholders, inclusive of the Principal Cardholder.


17. What is the process to issue an additional card? Must the additional cardholder be present at the branch?
The Principal Cardholder is responsible for all transactions, with special reference to chargebacks/ disputes. Therefore all instructions to add Additional Cardholders must be issued by the Principal Cardholder.


The Additional Cardholder need not be present at the branch to sign given that the Principal Cardholder has ultimate responsibility for the card. In the same vein the Principal Cardholder also has authority to collect the Prepaid MasterCard on behalf of the Additional Cardholder.

However, the position is that the signature of both the Additional and Primary cardholders must be obtained on the Prepaid Application Form. Other required documents for the Additional Cardholder are: one (i.e with security features) or two (i.e. without security features) forms of valid identification (Electoral Identification, Drivers Permit, Passport); a proof of address e.g. a utility bill if the Additional Cardholder does not reside at the same address as the Principal Cardholder.



18. Will the Additional Card be issued immediately at the branch upon completion of the Application Form and payment for the card?
Additional cards can be collected on the 3rd working day after submission of all relevant documents by the branch to the Bank’s Electronic Banking Unit.


19. How can I load /reload my First Citizens Prepaid MasterCard or additional cards on my Prepaid MasterCard account or even a Prepaid MasterCard belonging to a 3rd party?
First Citizens has made this process quite simple through:

  • First Citizens Online Banking

You can load/ reload your card or any other First Citizens Prepaid MasterCard through the Bill Payments option on the Online Banking Service. When adding your prepaid card as a payee on the First Citizens Online Banking service, you are required to choose “Prepaid MasterCard” under the “First Citizens Prepaid Card” heading.

  • First Citizens Telebankingor
  • At First Citizens branches

It is the customer’s responsibility to load/reload the accurate account, on any of the channels noted above.


20. How will the reload fee be charged?
The load/ reload fee will be deducted from the load/reload amount.

 

21. When can I access funds loaded onto the First Citizens Prepaid MasterCard?
Prepaid loads/ reloads made at branches, via Online Banking and via Telebanking are updated in the same timeline that applies to credit card payments made at branches, as seen below.

  • Monday to Thursday: loads/ reloads made by 3pm will be updated on the same night. If your load/reload is made after 3pm, then that payment will be updated on the night of the next working day.
  • Friday: loads/reloads made by 4.15pm will be updated on the same night. If your load/reload is made after 4.15pm, then that load/reload will be updated on the night of the next working day.
  • Weekends and Public Holidays: loads/reloads will be updated on the night of the next working day.


Other local banks cheques will be placed on hold in accordance with normal banking practices.
Immediate access is not applicable to funds loaded onto the First Citizens Prepaid MasterCard.

22. Is there a limit in terms of how much I can load/ reload?
The Prepaid Card Account can be Loaded or Reloaded up to maximum of TT$30,000 per day, with a maximum of two (2) reloads per day.


23. Is there a limit in terms of how much I can use per day?
Yes, the conditions below consider all cards on the account, and is not applicable per card.

  • The maximum amount that can be accessed per day is TT$8,500 (approx.USD$1,200).
  • The maximum number of purchases per day is 10, up to a maximum value of TT$8,500 (approx.USD$1,200).
  • The maximum number of ATM cash advances per day is 5, up to a maximum of TT$6,800 (approx.USD$1,000).
     

24. Is there a minimum balance to be left on the First Citizens Prepaid MasterCard?
No, there is no minimum balance to be left on the card.



25. How can I obtain information on transactions done on my First Citizens Prepaid MasterCard?
Customers can obtain transaction history, for posted transactions, via:

  • First Citizens Online Banking Service
  • First Citizens Telebanking Service
  • First Citizens Mobile Banking Service

 

26. How long is a First Citizens Prepaid MasterCard valid for?
This card is valid for 2 years.


27. If my First Citizens Prepaid MasterCard is lost or stolen what do I do?
Immediately report the incident to the MasterCard Global Service (MGS) if you are abroad or call 62-FIRST Options 2 & 3 if in Trinidad and Tobago. The MGS and 62-FIRST Option 2 services are available 24/7. 62-FIRST Option 3 is available Mon to Thur 6am to 10pm excluding public holidays.


When in the USA and Canada contact the MasterCard Global Service by calling toll free - 1-800-307-7309 and when in other countries call collect at 1 636 722 7111.


You are advised to store these numbers safely e.g. on your mobile phone so that in the event you lost your card, the customer service support numbers are easily at your reach.


28. Are there any other benefits on the First Citizens Prepaid MasterCard?
Yes. The Accidental Death and Dismemberment (AD&D) benefit provides a maximum benefit amount of USD $500, in the event the cardholder suffers from loss of life, limb(s), or paralysis as a result of a covered accident.


Cardholder coverage is automatic and provided 24/7 anywhere in the world, as long as the eligible cardholder has an active account and a minimum of two point-of-sale (POS) transactions (excluding ATM) 30 days prior to the event which results in the loss.
 

  • Classic Credit Card “Shopping”
  • Card Safety Tips
  • E first
  • Contact Centre
  • Point of Sale Terminal
  • Mobile Banking