Don't wait for checking accounts to become obsolete.
Move to Prepaid Now.
The era of free checking is over. Every consumer
wants a 21st-century,
near-free, safe and responsible way to manage their everyday money. Banks can no longer offer checking/debit accounts profitably through tradtional channels based on
legacy DDA platforms while complying with Dodd-Frank & Durbin regulations.
The solution is to shift to prepaid card accounts:
Reduced operating costs: ≤$50/year versus >$200 for checking
Earn greater interchange when designed for exemption from Durbin amendment
Enroll more customers: can be opened to customers black-listed on CHEX
Offer full check services: paper check writing (on-demand)
& check depositing (via smartphones)
Same ACH routability, FDIC insurance and Reg E protection
as checking accounts
More differentiation through easy-to-add options: rewards, built-in savings, mobile top-ups...
What does it take to deploy?
Plastyc delivers "Prepaid 2.0 in a box" by
acting as a Program Management Service Bureau for the Bank
and taking care of all of the deployment and management
steps above and beyond the services usually provided by a
Learn more about our services for
Financial Institutions: contact us at firstname.lastname@example.org