The prepaid debit card industry has grown tremendously in the last few years and consumers are expected to load $672 billion on these cards in 2013. What is the hype behind prepaid cards? Why do consumers love them so much? In this … Continue reading
American Express has recently been scrutinized for lacking FDIC insurance on its prepaid cards. The company instead chose to work through a surety program, which gave its customers different levels of protection based on the states they live in. Amex … Continue reading
For the longest time, the U.S. government has issued unemployment and workers compensation payments through checks in the mail. They eventually opened the option of receiving direct deposits into a bank account, but that does not help the thousands of … Continue reading
American Express is making two major changes with the Bluebird prepaid card sold at Walmart. These cards will now be backed by the Federal Deposit Insurance Corporation. In addition, consumers will have the ability to write checks and to make … Continue reading
People often assume that it takes bad credit to get declined for a credit card, but that is not always the case. A complete lack of credit may be just as detrimental to your chances, depending on what card you … Continue reading
Why More Americans Will Fall Behind on Their Credit Card Bills This Year A quarterly report issued last month by the Federal Reserve Bank of New York said that, although our total debt dropped by $74 billion in the third … Continue reading
The U.S. Department of the Treasury will no longer issue tax refunds on the MyAccountCard prepaid debit cards, according to the New York Times. The card was used during the 2011 tax season as a pilot program for low- and … Continue reading
Anyone receiving Social Security or other federal benefits has until March 1 to switch to electronic payments or prepaid debit cards. In a cost saving measure, the government started a program in May 2011 to eventually eliminate the paper checks … Continue reading
According to the latest FDIC study, 8.2 percent of our nation's households are unbanked. That represents nearly 10 million households, an increase of 821,000 households in a two-year period. The National Survey of Unbanked and Underbanked Households, released in September by the FDIC … Continue reading
Price of Plastic Going Up? Merchants May Get Surcharge Rights Merchants may soon begin to impose a surcharge each time a customer pays with a credit card, a practice Visa and MasterCard currently prohibit. Retailers have long pushed for the … Continue reading