Even as Senator Menendez announces legislation that would apply price controls to prepaid cards, RushCard has expanded its value for existing cardholders with the introductions of a new financial empowerment service:
“CINCINNATI–(BUSINESS WIRE)–RushCard announced today a new tool and a cashback reward that helps hard-working members who want to budget and save, but are finding it difficult to do so with the big banks. The new feature, RushGoals, is designed to help underserved customers achieve their financial goals. It couldn’t be timelier, as recent changes in financial regulations have triggered increases in monthly banking fees charged to low-balance customers.
“With RushGoals, we not only give customers money back, we’ll also help them realize their financial goals. This is just one of the ways RushCard continues to look beyond traditional prepaid card programs to create more tools to improve the overall financial well-being of our members.”
RushGoals enables Cardholders to create personal financial goals, put money aside in a separate sub-account, and track their progress. Cardholders can establish multiple goals by setting up multiple sub-accounts, all tied to a single Prepaid Visa® RushCard.
In each month in which a Cardholder maintains an average daily balance of $500 or more across their Goals sub- accounts, the Cardholder will be rewarded with $2 that will be applied toward their RushCard fees.”
RushCard’s new value added service is made available to cardholders, along with other existing cardholder benefits, under the existing price plan. RushCard has also preannounced new services that will be made available in the coming months:
“The RushGoals feature is the latest in a suite of money-saving solutions that include budgeting tools, prescription drug discount cards*, mobile phone applications, card-to-card transfers, and free text alerts**. According to Simmons, ‘RushCard will continue to be the recognized leader in prepaid cards and related services, enabling our customers to take control over their financial lives and embark upon the path toward financial well-being. In the coming months, we’ll be announcing additional new features, including the ability for RushCard direct deposit customers to receive access to their funds up to up to 2 days before their payday.’ ”
**Standard text messaging rates from your wireless service provider may apply.