O2 has launched O2 Money with NatWest, offering two pre-paid cash cards to its customers.

O2 has launched O2 money, in conjunction with NatWest, which offers two Visa cash cards – one of which is available to people over the age of 13.

The pre-paid cards, Cash Manager and Load & Go, will be available to O2 customers by the end of August and are designed to help with money management as they do not allow people to become overdrawn.

Money is loaded onto the cards and once it runs out, no more money can be taken out until it is added to again. Customers receive a real-time balance via text to their mobile phones to ensure they stay updated with how much they have spent.

Load & Go is designed for young people aged 13 and over. Children can use it online and in the high street, however moves have been made to ensure certain outlets and websites are blocked from its usage, such as gambling and adult sites. In another effort to regulate children’s spending, parents are also informed if their child makes an application for a card, and are also able to top-up the cards themselves.

Helen Page, Managing Director of Marketing and Innovation at NatWest, commented on the new cards: “More people than ever are using their mobile phones as a means of managing their money and NatWest is always looking at new ways of incorporating the mobile phone into our services, to ensure our customers can interact with us as easily as possible.

“These cash cards, delivered in partnership with O2, are the first step on the road towards a more advanced mobile banking service, and the closer alignment between mobile phones and payment technology.”

The two cards can be used in almost any outlet that accepts Visa cards, in the UK, overseas and online. The Cash Manager card is ideal for those who want to balance their essential outgoings with their disposable income. They can load the card with their budgeted disposable income, knowing they are unable withdraw more than they have added to the card.

The cards will be available online to O2 customers. For further information, visit: http://o2money.o2.co.uk