You are here

prepaid cards

October 7, 2013

Underscoring a trend towards consolidation in the prepaid issuer space, payroll card program manager TFG Card Solutions says that Bancorp Bank will become its issuer. The decision affects about two thousand business accounts
that collectively serve approximately seventy thousand consumers.  

September 30, 2013

September 30th goes quietly for Block and Republic: Today was the deadline set for Republic Bank of Kentucky to complete its acquisition of H&R Block Bank. The application was put off by the OCC. Thus Block Bank will

September 18, 2013

SpendSmart retains investment banking group: Could SpendSmart's management be on the look out for a buyer? Alternatively, could they be hoping that some one will invest more in their company? SpendSmart's shares are now down to $1.50 from as high as $13 a share just twelve months ago. Clearly, that Bieber thing

September 6, 2013

Although there are several firms providing regular research about the use of prepaid debit cards (NBPCA, Javelin, CFSI, Pew, Mercator, Aite), plenty of things remain unanswered. Views about prepaid diverge widely and even informed perspectives recognize that what was true a year ago is probably less so today. Card use

August 19, 2013

PerkStreet, a prepaid card distinguished by its rewards program, has run out of capital and will shut down near the end of next month.

What follows for customers depends in part upon when they originally signed up for a PerkStreet Card. Prior to March 2013, Provident Bank issued the cards. After March, Bancorp issued the cards. Provident cards will cease to function, but Bancorp cards will still work albeit without a rewards program. In both cases, consumers will not be able to redeem existing Perk balances.

PerkStreet stood out from most other cards by its powerful rewards program. Rewards have never been a part of mainstream prepaid. In fact, rewards are pretty much contained to credit cards for prime consumers and/or to those with the right spending and

July 31, 2013

While news from the Green Dot 2nd quarter earnings elicited praise among investors, the most interesting details concerned Steve Streit's strong statement about overdrafts and the company's new roll-out in check cashing stores.


Steve Street left no room for ambiguity in his comments about overdraft.

July 25, 2013

Fees are growing faster than spend at Bancorp Bank. Bancorp says that its profits from the prepaid debit cards that it issues are being driven by higher non-interest income, rather than by changes in gross dollar volume. True, spending on prepaid cards did increase nineteen percent, but fee

July 17, 2013

While I recently suggested that regulators would delay approval ("Why Republic Won't Buy H&R Block Bank This Year"), another view on the likely response from regulators to the proposed acquisition of H&R Block Bank by Republic Bank of Kentucky is that the deal would

July 3, 2013

Here is the question: do incentives offered to employers in payroll card programs put the interests of consumers in conflict with those of the company that pays them?

Some payroll card programs pay employers when they sign up to offer their cards to their

July 2, 2013

Ingo, a new subsidiary of CHEXAR, has a new advance product which gives early access to funds deposited by check through remote deposit to a prepaid card.

While the better point of comparison is to a traditional check cashing service, the