RushCard's Major Announcement: Lower Fees! (DETAILS)

RushCard today announced plans to streamline its fee structure for the Prepaid Visa® RushCard, as well as launch an entirely new plan, the RushUnlimited Plan.

Many customers who choose the new plan can make unlimited signature and PIN transactions for a new lower monthly fee.  The RushUnlimited Plan, available in March 2012, will not only deliver increased payment flexibility, but will also provide a simplified fee structure for new customers and existing Cardholders choosing from within RushCard’s robust suite of money-saving solutions. Beginning as early as February 2012, for Cardholders across all RushCard plans, the fees for bill pay enrollment, individual bill pay transactions, plan changes and replacement cards* will be eliminated.  With these changes, electronic billpay using the RushCard will now be free. Additionally, the fee for card-to-card funds transfers between RushCards will be reduced to $0.99 from $2.95 across all plans.  Funds transfers to other RushCards owned by the same Cardholder remain free.

“While some traditional banks are raising monthly minimums and fees, RushCard, with the doubling of our monthly new customer acquisitions, continues innovating toward our mission of empowering Cardholders to achieve their financial well-being, with products and services that are compelling alternatives to banks and check-cashing firms.   I’m proud to be introducing our new streamlined fees and the RushUnlimited Plan,” said RushCard founder and prepaid card pioneer, Russell Simmons.  

“RushCard is committed to meeting the needs of its growing, dynamic community of customers.  Our prepaid card is packed with added value, and our new RushUnlimited Plan makes it easy for individuals to access their money and choose the plan that is right for them,” added Simmons.   

The new RushUnlimited Plan will provide customers with more options designed to meet their everyday financial needs and budget constraints. For customers who choose to Direct-Deposit their paycheck, the monthly fee is $5.95.  For non Direct-Deposit customers, the monthly fee is $7.95.   Both pricing options entitle the customer to unlimited signature and PIN transactions.  As the recognized leader in prepaid cards, RushCard will continue to provide free customer service on all plans.

According to Rob Rosenblatt, RushCard CEO, “RushCard is pleased to announce the elimination and lowering of several fees.  Our rapidly increasing customer base enables us to pass the benefits of our growth on to customers in the form of these fee changes.  As we continue to expand, we’ll continue to innovate, providing valuable products at affordable prices while maintaining our commitment to providing great service and clear, transparent disclosure of all of our fees.  Customer reactions to recently introduced features such as early access to direct deposits, up to two days early, and RushGoals have been extremely positive.”

Recently, RushCard announced several new innovative tools and features to help Cardholders achieve their financial objectives. With RushGoals, each month in which a Cardholder maintains an average daily balance of $500 or more across their RushGoals sub-accounts, they will be rewarded with up to $2 in fee rebates. In addition, members who have their paychecks and certain other payments directly deposited onto their RushCard may be able to receive their funds up to two days early.

To learn more about the Prepaid Visa RushCard and its financial empowerment program, visit www.RushCard.com.  For complete details of the RushUnlimited Plan, check www.RushCard.com in March. The Card is issued by The Bancorp Bank, a wholly owned subsidiary of The Bancorp, Inc. (Nasdaq: TBBK), Member FDIC and is FDIC insured.*UniRush will continue to charge a fee for expedited card replacement.