NetSpend's Prepaid Reloadable Debit Cards Provide Financial Management System for Holiday Shopping

Card Features Empower Consumers, Keep Spending Under Control

Dec 08, 2008, 08:00 ET from NetSpend Corporation

AUSTIN, Texas, Dec. 8 /PRNewswire/ -- 'Tis the season ... for Americans to be concerned about their holiday spending. With the economy in a recession and unemployment rates continuing to rise, consumers are still making their lists and checking them twice, but they are worried about staying within their budgets when purchasing holiday gifts this year. NetSpend Corporation, one of the leading providers of prepaid reloadable debit cards in the United States, provides a convenient financial management solution to this growing concern.

NetSpend's prepaid reloadable debit cards, issued by MetaBank and Inter National Bank, member FDIC, look and function just like regular bank debit cards and can be used anywhere those forms of payment are accepted. However, NetSpend's prepaid reloadable debit cards only let a user spend funds that are available on the card. As a result, overdraft fees are not possible. Since users cannot "overspend" there are no interest rates to contend with. NetSpend's prepaid reloadable debit cards offer people more control over their money and spending habits and keep them from getting into financial trouble, which is great news for holiday shoppers -- particularly this year.

"We understand today's financial picture and we want to help Americans save money and control their spending," said Daniel R. Henry, chief executive officer of NetSpend. "With the holidays quickly approaching, the best way for people to avoid overspending is to use NetSpend's prepaid reloadable debit cards for their purchases. It's a guaranteed way to stay within a budget and feel empowered when it comes to your finances. You are in control of your money, period."

Having issued more than 16 million prepaid debit and gift cards, NetSpend has one of the most convenient and accessible retail networks in the country, including more than 30,000 card purchase locations and a total of approximately 65,000 debit card reload locations.

NetSpend's suite of products and services provides an efficient system for personal money management, offering more freedom than traditional bank accounts and less oversight on spending than traditional credit cards. NetSpend's prepaid reloadable debit cards enable users to make traditional point of sale and online purchases, pay bills and secure reservations. Cardholders can have all or part of their paychecks or other funds directly deposited onto their NetSpend prepaid reloadable debit card for free, save money through the free NetSpend National Savings Program which offers a 5.00 percent annual percentage yield and receive free "Anytime Alerts" on their cell phone and/or email detailing each transaction made with the card. NetSpend also offers free online bill payment services, online money orders and account-to-account (P2P) transfers -- all services that extend beyond the holiday shopping season.

About NetSpend Corporation

NetSpend Corporation is one of the premier providers of innovative, accessible prepaid debit cards that enable financial freedom for under-banked consumers. Grounded by a mission of financial empowerment, NetSpend is committed to meeting its customers' financial services needs on their terms while offering the convenience, security and acceptance of conventional financial services. NetSpend's proprietary processing platform allows it to support prepaid card programs end-to-end from customer acquisition and card fulfillment to customer service and risk management. The NetSpend(R) Prepaid Card Network includes leading consumer brands and companies serving the un-banked and under-banked markets, and its strategic relationships include card issuers, EFT networks and payment card associations. For more information, visit

About MetaBank(TM)

MetaBank is a federally chartered savings bank headquartered in Storm Lake, Iowa. Meta Financial Group, Inc.(R) is the holding company for MetaBank, Meta Payment Systems(R), and Meta Trust Company(R). The Meta Payment Systems (MPS) division of MetaBank based in Sioux Falls, South Dakota, is a recognized leader in the prepaid card industry and provides innovative payment solutions delivered nationally in collaboration with market-leading partners. MPS focuses on offering specific product solutions in the following areas: (i) prepaid cards, (ii) credit cards and lending solutions, and (iii) ATM sponsorship. Meta Financial Group is traded on the NASDAQ Global Market(R): CASH. For more information visit

About Inter National Bank

Although the McAllen, Texas-based bank is relatively young, having been founded in 1985, it has staked a position as a strong leader in the banking industry. In fact, in 2002 the American Bankers Association's ABA Banking Journal named Inter National Bank the top performing non-Subchapter S bank in the nation with assets between $100 million and $1 billion. For more information, visit

     For NetSpend:
     Lauren Mauro
     Cohn & Wolfe for NetSpend Corporation
     (512) 542-2832

SOURCE NetSpend Corporation