The MG CashViza Prepaid Card offers a versatile, multi-currency solution tailored for individuals looking to securely manage their finances both locally and internationally. Whether you’re a frequent traveler, an individual seeking financial flexibility, or someone unbanked, MG CashViza provides a convenient, accessible way to store and access funds.

This prepaid card lets you experience financial freedom with control over your money without the need for a bank account, credit checks, or binding contracts. Accepted globally at over 34.5 million Mastercard merchants, CashViza brings you ease, flexibility, and secure access to your funds.

Key information about the MG CashViza prepaid card

How does the annual fee work?

With the MG CashViza Prepaid Card, there’s no need to worry about annual fees, which adds to its appeal as a travel and general spending card. The absence of an annual fee provides users with financial simplicity, allowing them to load funds as needed and spend without worrying about hidden costs or recurring charges.

How is the credit limit determined?

Since the MG CashViza is a prepaid card, there is no credit limit in the traditional sense, nor does it function as a typical credit card. Instead, the limit is determined by the amount the cardholder decides to load.

Users can add funds at their discretion, deciding how much to deposit based on their spending needs. For travelers, this means setting a budget is easy, as the card’s limit matches the loaded amount, providing full control over expenses.

Advantages of the MG CashViza Prepaid Card

• Multi-currency capability: Load up to 24 different currencies, offering flexibility for those traveling internationally or handling various currencies.
• Fixed exchange rates: Lock in exchange rates each time you load the card, helping manage currency fluctuation risks while budgeting effectively.
• Global acceptance: Use the card at over 34.5 million Mastercard merchants, making it versatile for shopping both online and in stores worldwide.
• No credit checks: The card doesn’t require any credit checks, which allows individuals with a variety of credit histories or those unbanked to access its benefits.
• ATM access worldwide: Withdraw cash from ATMs both locally and internationally, receiving local currency when abroad.
• No annual fee: Spend more on what matters with no additional recurring annual costs.

Standout advantage

One of the standout features of the MG CashViza card is its flexibility in handling multiple currencies. Travelers can load up to 24 different currencies onto their card, eliminating the need to carry various forms of currency or exchange large amounts before traveling. Additionally, the cardholder has the advantage of locking in fixed exchange rates each time they reload, which is particularly helpful in managing international expenses.

Disadvantages of the MG CashViza Prepaid Card

• Dependent on loading funds: Unlike a traditional credit card, users can only spend the amount loaded onto the card, which may require frequent reloading for heavy spenders.
• No credit-building capability: As a prepaid card, it doesn’t report to credit bureaus, meaning it won’t help in building or improving your credit score.
• Limited cash withdrawal amounts: Cash withdrawals have limits (e.g., R30,000), which could be restrictive for those who frequently need cash access.
• Foreign ATM fees: Although the card can be used internationally, ATM fees may apply, potentially adding costs when withdrawing cash abroad.

A standout disadvantage

A key disadvantage of the MG CashViza card is the lack of credit-building potential. Unlike traditional credit cards, which contribute to a credit score through on-time payments, prepaid cards like the CashViza do not report to credit bureaus.

This could be a drawback for users who are trying to establish or improve their credit. As a prepaid card, the CashViza is designed to provide spending flexibility without credit risk, but it won’t assist users aiming for long-term credit improvement.

Who can apply for this card?

The MG CashViza prepaid card is accessible to a broad range of users, making it an ideal choice for various demographics. Applicants must meet the minimum age requirement (typically 18 years or older) to apply. Since there’s no credit check, it’s available to individuals with varied credit histories, including those who are unbanked, blacklisted, or otherwise ineligible for traditional credit cards.

Additionally, no bank account is needed, and the application process is simple and efficient, appealing to those who want quick access to a flexible payment solution. Requirements like income verification and credit checks are bypassed, allowing easier approval, especially beneficial for tourists, freelancers, or individuals with non-traditional income sources.

How to apply for the MG CashViza Prepaid Card

For the website

To apply through the MG CashViza website, users can visit the official website and navigate to the application section. There, they will find an easy-to-fill form requesting basic details like name, contact information, and identification. Applicants can select specific card options, such as multi-currency preferences, which will guide the process based on their needs.

Once the form is completed, users can upload any necessary documents, such as ID verification, for light FICA compliance. After submitting the form, applicants receive a confirmation email, and the card is typically delivered within a few business days. Online applications provide convenience for those preferring a digital experience, enabling them to complete the process from anywhere with internet access.

Through the app

MG CashViza also offers an app-based application process for those on the go. After downloading the MG CashViza app, users can sign up or log in if they have an existing account. In the app, the application process mirrors the website’s steps, with the added convenience of mobile uploads for document verification. Once the user completes the form and submits any required identification, they can track the status of their application in real time within the app.

At the branch

For individuals who prefer face-to-face interactions, applying at a participating MG CashViza branch is another option. This method allows applicants to receive in-person assistance from a representative who can answer questions and help with document verification directly.

In the branch, the user can complete a physical application form, provide identification for FICA verification, and learn about card features. Upon approval, the card can sometimes be issued instantly or made available for pickup at a later date, offering a hands-on approach to onboarding. This method is ideal for those who feel more comfortable with personal assistance or need additional support.