We are big fans of prepaid debit cards. We’ve known (for a long time), that prepaid debit cards are perfect second chance bank accounts. We are starting to realize that prepaid debit cards can be also be a perfect first choice for your bank account. One of the biggest complaints that some people have about prepaid debit cards is that some can be difficult to “load” with new funds. Well, depositing money into your prepaid debit card account is getting even easier….

AccountNow and Moneygram International just announced a program where AccountNow will issue a new Visa prepaid debit card which will be available at MoneyGram agent locations all over the U.S. The new product will be available almost everywhere (at over 40,000 locations) and will allow users to easily deposit funds in the account at any Moneygram location.

Here’s what MoneyGram and AccountNow had to say about the new product:

The MoneyGram AccountNow Prepaid Visa card, which will participate in the Visa ReadyLink, Interlink, and Plus networks, joins an extensive line of MoneyGram products to serve underbanked consumers with a low-cost and convenient way to complete financial transactions such as bill payment and money transfer. No credit or bank account is necessary for card holders to load cash at any MoneyGram agent location, and consumers can use the card everywhere Visa debit is accepted.

“We recognize the value of offering a prepaid card as the underbanked population continues to grow and more consumers, who may not have access to a traditional credit card, seek secure and convenient alternatives that provide more control over their finances and fewer surprises such as over-draft fees, late fees and interest rate changes,” said Tim Summers, general manager of Consumer Products Americas at MoneyGram. “This is truly a win-win for both companies. AccountNow, with its expertise in acquiring, servicing and managing underbanked consumers, is an excellent partner to enable MoneyGram to deliver an exceptional prepaid card to our customer base. And, MoneyGram, with its 40,000 locations in the United States, brings a new level of convenience to AccountNow customers.”

Matt Montes, founder of AccountNow, said: “The value of working with MoneyGram on this co-brand card will be realized everyday by the thousands of consumers who sign up for this card. Consumers will save money and time with every use. This partnership fits perfectly with AccountNow’s strategy to work only with the world’s best organizations that share our philosophy of providing services to truly benefit our customers.”

Brian Triplett, head of global prepaid products, Visa Inc., added: “At a time when more consumers are focused on managing their finances, prepaid products can be a helpful budgeting tool, while empowering consumers with a better way to make everyday purchases, pay bills and receive payroll deposits. Prepaid is a key priority for Visa, and we are excited to work with MoneyGram and AccountNow to extend access to prepaid products and services to financially underserved consumers.”

The MoneyGram AccountNow Prepaid Visa Card is issued by MetaBank pursuant to a license from Visa U.S.A. Inc.

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Related ChexSystems Banking Information:

1. Debit Cards are Passing Credit Cards in Popularity
2. Prepaid Debit Cards: The Top Five Reasons People Use Them
3. Prepaid Debit Cards — Survey Says Two Thumbs Up
4. AccountNow Prepaid Debit Visa Account
5. Who Uses Prepaid Debit Cards?