CINCINNATI, June 15, 2015 /PRNewswire/ -- UniRush, LLC announced today that its general purpose reloadable (GPR) prepaid card, RushCard, has received the Visa Clear Prepaid seal, making it one of only four Visa Prepaid cards in the GPR market to qualify. In order to help consumers avoid the complex maze of fees that prepaid cards sometimes charge, Visa recently announced this new designation for GPR prepaid products that clearly communicate fees and provide great consumer protections. The new set of standards, called the Visa Clear Prepaid Program, aims to make prepaid cards with simple monthly fee plans easily identifiable for the average prepaid customer.
"We are gratified that the RushCard value proposition and transparency we provide our members has been recognized by Visa through this new seal of approval. RushCard has worked hard to build an outstanding product that serves our customers needs. It is extremely rewarding to receive this type of industry recognition," said Rick Savard, CEO and Chairman of RushCard.
To qualify to use the Visa Clear Prepaid seal, prepaid programs must certify that they meet the Visa Clear Prepaid standards. Here are some additional requirements for cards that hold the Visa Clear designation:
- No fees for declined transactions
- No fees for cash back at point of sale
- No fees for using customer service
- No fees for balance inquiries
- No fees for in-network ATMs
- No fees to close your account
- No overdrafts allowed
All Visa Clear products have Visa deposit or share insurance, e.g. FDIC or NCUSIF, and offer Visa Zero Liability Fraud Protection, which means consumers won't be on the hook for charges they don't make.
In order for a card to qualify for the Visa Clear designation, prepaid cards must offer one of two different fee structures – either a flat monthly fee that covers daily activity, or a "pay-as-you-go" plan with a per-transaction charge that is capped at a maximum amount set in advance. The first option is aimed at consumers who use their prepaid cards as their primary means of payment, while the latter is mostly for those who use their cards less frequently. Although both options take a different approach to prepaid card fees, they both achieve the same goal – making prepaid card fees more transparent.
For press inquiries about RushCard, please contact Jake Oliver at 212-337-8870 or via email at [email protected].
About UniRush, LLC
UniRush, LLC, which helped pioneer the prepaid debit card industry with the Prepaid Visa RushCard, one of the first general purpose reloadable prepaid debit cards in the marketplace, provides members with access to services that enable them to achieve their personal and financial goals. UniRush offers Americans an array of basic financial services via the RushCard. To learn more about the RushCard, visit www.rushcard.com or find us at Facebook.com/Rushcard or on Twitter @RushCard.
Media Contact: Jake Oliver
The TASC Group
SOURCE UniRush, LLC