nFinanSe will be launching its new visa reloadable prepaid debit card in Winn-Dixie Supermarkets in December 2009. The new card will be sold for $3 at retail stores and will not charge the consumer any fees on purchase transactions. It will have a low $2.95 monthly maintenance fee for an unlimited number of purchase transactions and will allow consumers to load additional funds for only $2.95.
The visa reloadable prepaid debit card will charge a customer $1.50 to withdraw funds at an ATM but will offer free direct deposit of payroll, free receipt of bank transfers to the card, free live customer service in english and spanish and free cell phone text message alerts with purchase and balance information after each transaction.
Jerry Welch, chairman and chief executive officer of nFinanSe, said: “We have worked hard to bring a consumer friendly approach to the prepaid card industry and have been a leader in establishing ‘best practices’ such as low fees and free 24/7 customer service – and now extending that leadership to drive more transparency of associated fees for consumers.
“Our industry is still in the early stages of development and we believe that many adults have a need for a reloadable prepaid card. Accordingly, we have designed our card for mass appeal and are focused on creating trial and usage for our product through our aggressive pricing.”
