"The outrageous fees associated with this financial product make it a poor choice for struggling low-income New Yorkers," the report said. They often cost more than regular checking accounts, PIRG found. An April report by New York's Public Interest Research Group called prepaid cards the priciest plastic of all. Tom Miezejeski, vice president of research at Pelorus, goes so far as to call stored-value cards the fifth major revolution in currency (the earlier ones being the introduction of coins 4,000 years ago, the development of checks 400 years ago, the growing popularity of paper currency 200 years ago and the development of the credit card 50 years ago).īut consumer advocates say the cards charge excessive fees. They're also being adopted by employers and government agencies as a convenient, paperless way to issue paychecks and assistance payments. The number of prepaid cards, which carry no risk for the issuer because they can't be overdrawn, will hit 22.5 million this year, according to the Pelorus Group, a New Jersey market researcher. In fact, major financial players like Visa, MasterCard and Citibank view the unbanked as a lucrative, untapped market. The banks looked at the people in the face and did not see enough money in their eyes to pay attention to them." "I'm doing something the banks should have done. "Everything that we do comes from hip-hop culture, which is the expression of people who are struggling," he said in an interview, speaking with the distinctive cadence of a man who sees poetry woven into daily life. Simmons, whose company has signed up about 300,000 RushCard customers in 18 months, sees the card as consistent with his message of access, inclusion and empowerment. There's no danger of bouncing checks or running up big credit-card bills because she can only spend as much as she has deposited. Oliver can withdraw cash at any ATM and can call customer service to have checks written for her rent or other expenses. The card works and looks just like a bank debit card, and can be used to make purchases anywhere that accepts Visa. Her paycheck from her customer-service job at a Brisbane medical-supplies company is directly deposited to her RushCard account. Check with your financial institution for details."This card allows me to make hotel arrangements, order stuff from EBay or, rent a car, things I wouldn't be able to do otherwise," Oliver said. While not likely, your financial institution may charge you a foreign fee for using any ATM, including an Allpoint ATM, that it does not operate directly. Q: Will I get charged a fee for using an Allpoint ATM?Ī: If your financial institution participates in Allpoint, then you will not be charged a surcharge fee for using an Allpoint ATM. Contact your financial institution to see if your account includes Allpoint access, or download our app to verify your card.Ī: Finding an Allpoint ATM is easy - there are probably several within a few blocks! The easiest way to find a participating ATM is to use our Allpoint ATM Locator or to download our Allpoint app With about 1,000 participating financial institutions, you may already have access. Q: How do I join Allpoint? How can I use Allpoint ATMs?Ī: You access Allpoint Network through participating financial institutions - banks, credit unions and prepaid card programs. Many Allpoint+ ATMs now allow consumers to add cash to their Amazon balance through the Amazon Cash program, enabling even cash-centric consumers to shop online. With advanced features and cutting-edge software, Allpoint+ ATMs can do more… much more. You can find an Allpoint+ ATM near you using our ATM locator or mobile app. Allpoint+ ATMs display prominent signage on the ATM itself – just look for the Allpoint+ logo. If your account supports Allpoint+ deposits, your deposit options will be displayed when you start an ATM transaction.Īllpoint+ ATMs are available at select CVS, Walgreens and other prominent retail stores in major metropolitan areas across the country. Allpoint+ brings the power of the branch to your local store.ĭeposit access is made available through your financial service provider. Allpoint+ expands the Allpoint surcharge-free cash withdrawals you know to include cash deposits at select locations.
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