Working in conjunction with Natwest, O2 has produced two pre-paid Visa cards called Cash Manager and Load and Go, both of which will be available exclusively to its phone customers and seem somewhat an extension of the O2 Wallet we trialed in late 2007.
With both cards, you top them up with cash and then spend as you would any other debit (or credit) card. Every time you spend, you'll get a text to your phone letting you know your remaining balance, all aimed at helping you to budget that little bit better.
As for the difference between them, the Cash Manager card can be filled with up to £10,000 a year and is aimed at people wanting to use it as a way to keep their disposable income separate from their bills so not to overspend.
The Load and Go card on the other hand is aimed at a slightly younger audience, from 13 and up, which can be topped up both online or in stores. The card is slightly restricted in that it won't work in places like online gambling sites, but comes with Chip and Pin security and can hold up to a much £1,800 a year, or £150 a month.
Both cards will be available from mid-August, but will you be getting one? Let us know your thoughts to O2's new product below.