MasterCard released new standards designed to help employees take full advantage of the benefits of having their paycheck electronically deposited onto payroll cards. The payroll card standards require employers and payroll card providers to offer cardholders greater insight on how to access their pay through educational resources and increased transparency of any fees. Additionally, the standards ensure the employee has a fee-free way to access their pay and check available balances.
Cardtronics announced that Costco Wholesale has renewed the company as a key provider of ATM services in the United States, adding a long-term contract extension to a relationship established in 2005. The world’s largest retail ATM owner, Cardtronics owns and operates more than 450 ATMs located in Costco membership warehouses spread across 39 states today, and has expansion rights for future Costco locations. With the recent expansion of Cardtronics’ ATM branding program to include both Principal Branding and Preferred Branding, all 450 ATMs are once again available to interested financial institutions.
Green Dot Corporation’s “GoBank” (GDOT) is open for general availability, no longer an invite-only service for beta members. A GoBank account is an FDIC-insured bank account that is specially built for the smartphone generation”designed from the ground up to be opened and used on a mobile device. Now anyone can sign up for GoBank on the app for iPhone or iPod Touch (available for download from the Apple App Store) or at GoBank.com (by clicking or tapping ‘JOIN’). GoBank has formed a national partnership with MetroPCS to distribute the GoBank mobile application across MetroPCS’s compatible Android device portfolio. GoBank will also be featured as the official financial sponsor on the upcoming 12th season of Lifetime’s “Project Runway,” premi “Project Runway,” premiering July 18. Throughout the season, contestants will utilize GoBank accounts showcasing the slide for balance feature, Fortune Teller, debit cards and person-to-person money transfers.
UniRush, program manager for the Prepaid Visa RushCard pioneered by Russell Simmons in 2003,announced new Fee Disclosures designed to make it easy for customers to understand the cost of using their RushCard, going above and beyond current industry standards.RushCard introduced a fee-free ATM network – for existing cardholders and new customers – in order to help cardholders keep the cost-to-use down. RushCard’s new, best-in-class Fee Disclosures will appear online at www.rushcard.com and in all Terms & Conditions mailings. Designed to go beyond current industry and regulatory standards, the disclosures (see: https://www.rushcard.com/howitworks/ScheduleOfFees.pdf) contain easy to understand fee descriptions, as well as clear explanations of when each fee is incurred. RushCard offers 3 different fee plan options: RushUnlimited, Pay-As-You-Go, and Monthly. The fees for each plan appear side-by-side, making it simple for prospective customers to compare plans. In addition, an easy-to-use Plan Calculator is available to help customers make the right selection.
Green Dot banking and payment solutions partnered UniRush to launch the RushCard Live Reloadable Prepaid Visa Card. The prepaid card that will begin rolling out to thousands of Green Dot partner retailers nationwide is a cost-effective alternative to a traditional bank account. Available only at retail, it offers early payroll direct deposit, which enables customers to receive their direct-deposited paycheck up to two days before payday; pass-through FDIC insurance coverage up to the applicable limits; and a choice of usage plans. Customers also have access to fee-free transactions at more than 22,000 ATMs via the nationwide MoneyPass ATM network, worldwide merchant acceptance of Visa debit, online bill pay, and a mobile app which includes real-time views of account balances and transaction histories.
Discover Financial Services launched its Discover “Cashback Checking” direct banking product. Featuring credit cards, home loans, student loans, personal loans, CDs, money market accounts and savings accounts, “Cashback Checking” accounts pay customers 10 cents for every debit card purchase, Online Bill Payment and check they write, automatically added to the account holder’s Discover card Cashback Bonus balance. With no monthly fees, no minimum balances, free checks and replacement cards; an app that lets customers easily bank on the go with mobile check deposit, mobile bill pay and an ATM locator; and $0 fraud liability for unauthorized transactions and bill pay protection, a full suite deployment is projected for 2014.
Green Dot launched “GoBank” bank account designed from scratch to be opened and used on a mobile device. This makes it easy to send and deposit money, build a budget and find an ATM, with a massive network of more than 40,000 fee-free ATMs. Each GoBank account includes a checking account with a linked Visa debit card and a second integrated bank account called the “Money Vault” that’s designed to be an easy way for GoBank members to put money away for savings. Accounts are demand deposit accounts (DDA) with deposits insured by the FDIC and full “Regulation E” consumer protections. Available through the program is Debit Card Customization; a Fee-Free ATM Network; Remittance; Quick Account Set-Up; and the Money Vault integrated bank account, allowing members to easily put money away for savings.
Western Union global payment services announced a series of relief efforts to support communities in the Philippines devastated by Typhoon Bopha. With this, westernunion.com is offering fee-free money transfers to the Philippines. The online fee-free* money transfer service to the Philippines is available for all money transfers sent from www.westernunion.com and its mobile app between December 12-21, 2012, and is subject to network, service and currency availability. Additionally, the Western Union Foundation will provide a $50,000 grant to the Philippines Red Cross for shelter, food and basic necessities.
Western Union continues to increasingly cater to the needs of web-savvy customers who want greater convenience in their financial services through its online money transfer service. Customers can now use www.WesternUnion.com to send money from the U.S. to India, Mexico and the Philippines fee-free* during a promotional period for people who send money online using their online bank accounts. Receivers can pick up the money at any of the more than 100,000 combined Agent locations in the respective countries. The platform is attracting new customers: over the last 12 months, more than 80 percent of new online customers are new to the company’s customer base, including those with established banking relationships.
Fiserv global provider of financial services technology solutions announced its “UChoose Rewards” solution experienced 69% growth in the number of debit and credit cards registered under the program in 2011. UChoose Rewards from Fiserv is a customizable rewards program designed to incent cardholder usage and provide consumer benefits for both consumer debit and credit programs.…
Texas Trust Credit Union partnered Allpoint ATM network to offer TTCU members fee-free ATM access, whom can now use any Allpoint ATM, fee-free. Texas Trust members receive unlimited surcharge-free transactions through more than 43,000 Allpoint ATMs in the United States and beyond. These ATMS are located in destination retail outlets that include major discount retailers, and convenience, grocery, and pharmacy stores.
Huntington Bank is converting its debit card programs to MasterCard and upgrading all its customers to a Platinum Debit MasterCard. Huntington will also implement the world-class debit and ATM transaction processing capabilities of MasterCard Integrated Processing Solutions (IPS). Also, the bank is remaining fee-free for debit card usage for its customers. The conversion of Huntington’s debit portfolio to MasterCard will include the nearly 1.5 million consumer and business debit cards issued by the bank. Card benefits include an upgrade for all Huntington customers to a platinum Debit MasterCard Card and fee-free debit purchases with zero liability for unauthorized transactions and 60-day price protection.