14-04-2025
Major card provider set to introduce £3 monthly fee within weeks
A major prepaid card provider is set to introduce a £3 monthly fee in weeks. HyperJar is a free money management app and prepaid debit Mastercard designed for both adults and children aged six and above.
It functions as a digital "jam jar" budgeting system, allowing users to divide their money into separate "jars" for specific spending categories.
But customers face a new inactivity charge, which is set to be introduced within weeks. From June 3, a £3 monthly inactivity fee will come into effect and be automatically deducted from your HyperJar balance if your account remains inactive for 12 months or longer.
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Money Saving Expert explained: "If you haven't used your HyperJar account in a while, but want to keep it, you can avoid the fee." Ways to do this include send money to, or receive money from, another bank or HyperJar account.
You can also move money within your HyperJar account from one 'jar' to another; buy something using your HyperJar card,.
Or you can buy a 'Cashback Voucher' or 'HyperVoucher' (these are gift cards for various retailers available through the HyperJar app).
"However, you'll need to keep using your account to avoid being charged going forward, as the inactivity fee will kick in if you don't do any of the above within a 12-month period," MSE said.
"If you don't think you'll use the account often enough in the future, then it's safest to ditch or switch." In its current terms and conditions, HyperJar says: "If you or your Sub-account User do not receive a replacement card and want to continue using the HyperJar account or Sub-account, you or your Sub-account User can contact Customer Support using the chat feature in the App and request a new HyperJar card at any time within the 6-year period from your last activity in the HyperJar account or Sub-account.
"A fee may apply for replacing the HyperJar card – see here. After 6 years of inactivity your HyperJar account and any Sub-accounts will be deleted, and you will need to apply again if you want to use the Services."
