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KANSAS CITY, MO. (3/06/14) Lead Bank is now offering a new prepaid card, a reloadable debit card, which will offer wage-earners an easier way to get paid and avoid the challenges that come with traditional paper paychecks. Businesses can recommend to their employees that they obtain and use Lead Bank’s prepaid Reloadable Card solution to have their wages direct-deposited to their prepaid cards. This provides instant access to employees’ funds the moment they’re paid.
An estimated 70 million working adults are underbanked or unbanked in the United States. Many of these people are unable to open checking accounts due to poor credit, concerns with sharing personal information or past banking problems. By receiving a paper check, many endure a lengthy payment process, check-cashing fees and the cost of transportation to and from the check-cashing office. With Lead Bank’s new Reloadable Card offering, companies can encourage their employees to obtain fast access to their funds through direct deposit, by employees obtaining the Reloadable Card from Lead Bank. “Prepaid cards are in a class of their own. They’re innovative, convenient and easy to use, and we’re excited to offer another convenient service to wage-earners,” Lead Bank senior vice president Kelli Buckner said.
The benefits of the Lead Bank Reloadable Card option are that neither a credit check nor a checking account is required for obtaining a card and cardholders have the ability to make purchases and pay bills online. Only ID verification is required prior to use. The Reloadable Card is safer than cash, and convenient. And by using direct deposit in place of paper checks, it will reduce the consumption of paper and waste. Ask Lead Bank about fees and limitations associated with the Reloadable Card, and how fees assessed to the Reloadable Card compare to other financial products in the marketplace.
About Lead Bank
For more than 85 years, Lead Bank has remained a strong, independent commercial bank dedicated to delivering smart financial solutions for business owners, managers and their families and communities. With two Missouri locations in Garden City and Lee’s Summit, Lead Bank provides treasury management, lending services and personal client products. Lead Bank also offers advisory services to companies, from bookkeeping to business brokerage services through its division, Lead Business Advisors. For additional information about Lead Bank, visit www.leadbankonline.com.