Raphaels Bank is a leading player in the emerging European prepaid market with over £35m of prepaid clients’ funds under management and over 1,400,000 live cards in the market through over 50 prepaid programmes. Through our principal memberships of both MasterCard and Visa we offer opportunities to companies that wish to launch prepaid card programmes in the UK and other European countries.

We are a UK Bank, Authorised and Regulated by the UK Financial Services Authority and we have permission under our banking license to issue e-money.  We have passported our right to provide cross border financial services to most countries within the European Union.

We currently have live MasterCard programmes in UK, Germany, Austria and Holland and a license to issue in France.  We have Visa programmes live in the UK and France.

Our current range of card products includes gift cards, corporate benefits cards, disbursement and distribution of commissions, insurance claim pay-out, general purpose, virtual, money sharing and government benefits.

We operate our card programmes working with card processing partners such as FIS (Incorporating Metavante and Wildcard), TSYS, M2 Global and StoreFinancial and we are always willing to look at extending our processing partner base.

As a Bank Sponsor operating in the prepaid market, our services include holding client funds (in ring-fenced trust accounts) regulatory overview and compliance, access to card schemes and associated settlement and reconciliation.

Raphaels Bank is a niche operator in the prepaid market and we specialise in working with clients with complicated requirements, particularly international (within the EU) or other demands.  If you have an existing or potential prepaid issuing requirement, we would love to hear from you.

For further details contact Mike.Smith@iceplc.com