LoadHub Canada – What It Is, How It Works, and The Customer Experience
There is quite a bit of knowledge about some of the more popular prepaid cards including Visa, MasterCard and American Express. On offer are regular credit cards and (for a fee), prepaid ones that will allow you to load money and spend it anywhere you want. A prepaid card is like a gift card but it’s usable anywhere you want to spend or transact instead of being specific to one store or one restaurant. This is great for people who prefer not to carry cash with them or people who want to give a gift to someone that affords more spending options.
Many people like these cards because they feel safer with a prepaid card than if they are carrying cash and to an extent, this is mostly true. But at the same time people don’t want to carry a credit card because they may spend more money than they actually have. By loading the money onto a prepaid card you get the security of a card over money but the limits of only spending the amount of money that you actually have. It’s a win-win situation for a lot of people. But there are some downsides to these prepaid cards which are addressed with LoadHub.
Let’s take a look at LoadHub today as an example to illustrate the what and how of a PrePaid Gift Card.
What is LoadHub?
LoadHub is a ‘cash-in’ load network for prepaid cards in Canada. Customers only require access to an open-loop re-loadable card (a prepaid card) and if you already have one of
these cards you’ll be able to begin immediately or,if you need one you can buy it just about anywhere you shop. This prepaid card system then allows you to use Canada’s post office network to load funds quickly into your prepaid account. You don’t have to search for a special location that can reload your card and you also don’t need to spend a lot of money. The fee for each transaction is small and the convenience of being able to load it at the post office is compelling.
An additional benefit of this program over others is that LoadHub is instantaneous. You don’t need to worry about whether the money has been processed. As soon as your clerk hands you back your card and receipt, the money is waiting for you to spend from your nominated prepaid account. This is great because often you’ll find that you don’t have enough time to wait for activation or wait the ‘up to 24 hours’ that other prepaid cards may take to make them available for use.
What’s the Process?
These cards are useable anywhere in Canada. That means you’ll be able to load up the money and then go have fun with it anywhere you would normally shop. You don’t have to skip over restaurants or stores that don’t accept it because this card is just like any other prepaid card. It will work anywhere that accepts the credit card that it is based on and you’ll be able to select which card you want to use when you buy the initial card from a regular store. You then just swipe the card at the register just like you would a regular credit card.
Of course, these cards are very similar to other prepaid cards in a lot of ways. You still have to buy the card from a retail establishment. You also need to make sure you pick the right one as not all cards are accepted in all the places you may want to go. Then you want to take the card to your local post office. You will always be able to find a place where your card can be reloaded and the cards are accepted throughout Canada, so you never have to worry about losing the value on your card.
The Customer Experience
Using LoadHub is actually very simple for the customer, making the entire process accessible to a wider audience. You don’t need to go to a store and buy additional ‘packs’ to load onto your card, which is a standard feature with a lot of other prepaid cards. Instead, you just need to go to the post office (no particular one, just whichever is nearest to you) and ask them to load additional money onto your card’s account.
You will give the clerk your LoadHub card and the money that you want to load onto the card’s account. They scan it, enter in the amount you are loading and hand you the card (with your funds already loaded) and the receipt for your transaction. Just like that the entire process is done and your prepaid account is ready to use. You can immediately start spending the money that you’ve just loaded and there’s no downtime. You don’t have to wait for the process to complete or call a number to activate your card. You’re just ready to go.
These cards are gaining a lot of popularity because of the simplicity in using them. You don’t have a complicated process to apply for a credit card, deal with the banks, add funds to your account, there’s no worrying about usernames and passwords or a complicated process for spending the money once it’s been loaded.
Prepaid cards are popular and this one is definitely one of the best that’s going around right now. It’s a trusted brand (using the Canadian Post brand and network) and the network is large enough that you’ll nearly always have a location nearby to load money using your card. After all, the post office has over 6,000 different locations that you can just stop in and put more money on your cards account whenever you need to.