Prepaid Card Holdings will offer fee free debit cards

[img_assist|nid=10869|title=|desc=|link=none|align=left|width=100|height=66]Prepaid Card Holdings, Inc. announced that it intends to offer through one of its subsidiaries a branded prepaid debit card with no money loading fees, no monthly fee, no card issuance fee and no card activation fee. These cards will be geared to America’s underbanked consumer who receives either a paycheck, benefit check, Social Security or other direct deposit instrument.

Some prepaid card companies charge up to $4.95 for a cardholder to deposit their own cash onto their prepaid card plus a monthly fee of $4.95 to $9.95 to use the card and a card activation fee up to $9.95. None of these fees will be charged on Prepaid Card Holdings, Inc.'s new card program. Instead customers will fund their card with some form of direct deposit. Not only does this save the aforementioned fees it also saves the cardholder time and money from having to use check cashing services.

"Our companies' business model and mission statement is about helping the estimated 100,000,000 underbanked Americans with an alternative low cost banking solution at a time when every penny counts to every American. Our pricing model is based on giving someone with limited financial choices a much needed product at a fair price. I don’t believe in charging more because a customer has very few options. Prepaid cards are in their infancy right now and a few years from now as this industry matures we will be known as the company that has always given the consumer a fair shake. I can look any of our cardholders in the eye and know we delivered them a much needed product at a fair price,” said Bruce Berman.