Provision of Prepaid Card Accounts

The North East Procurement Organisation (NEPO) Framework Contract award for the provision of Prepaid Card Accounts allowing Contracting Authorities an alternative method to manage their cash disbursements and budget monitoring. Prepaid Card Accounts will operate similar to a standard UK Bank Account, including the option to withdraw cash from an ATM, make regular payments, pay vendors and receive regular statements. Prepaid Card Accounts do not have an accessible overdraft facility. Prepaid Cards operate much in the same way as standard Debit Card whereby funds will be preloaded by Contracting Authorities and used by the Cardholder until the balance is exhausted. It is anticipated t…

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