Shopping online can provide savings and convenience, but more than 25% of U.S. households have either no bank account or rely on non-bank products and services to handle their finances. In an attempt to reach those potential customers, Amazon has launched “Amazon Cash.” [More]
Prepaid card
Law Enforcement Agencies Using New Card Reader To Seize Prepaid Card Funds
By 6.9.16
Millions of unbanked consumers unable to open a traditional bank account have turned to prepaid debit cards in recent years. But now these reloadable, and often untraceable, cards have also become a method of choice for criminals to transport a large amount of cash from one place to another. A new device aims to make it easier for police to seize these ill-gotten funds, but some advocates worry the card scanner could be putting legitimate prepaid card users’ civil rights at risk. [More]
RushCard To Pay $19M To Customers After Weeks-Long Glitch Last year
By 5.13.16
Last October, thousands of unbanked consumers who rely on prepaid RushCards were unable to access their funds because of a technical glitch. After toying with the idea of creating a compensation fund for those customers, RushCard announced Thursday that it will pay at least $19 million to card users affected by the weeks-long outage. [More]
