Combination ID/Prepaid Card –
What Is All About?
In a recent development, Oakland, California is getting ready to come up with prepaid cards along with integrated municipal identification cards issued by the city. It is expected that this combination ID/ Prepaid card will be popular amongst the masses. There are other cities in California like Richmond and Los Angeles which are also considering the option of implementing such kind of card programs.
The main aim of launching such a program is to offer identification as well as a debit-style card for illegal aliens and other people who do not have access to a traditional bank account or are under-banked. Well, experts are considering this as a huge development for the prepaid card industry as these cards will provide a direct link between a person’s identity as well as his/her spending. It will also increase the security for unbanked finances.
The combination ID/Prepaid card is expected to be of great help to those who are presently in the cash economy. It will also save many cardholders from the high end charges of using a check-cashing service. It should be noted that such a card will have the option of PIN-protection and fraud protection. The facilities will actually be provided by MasterCard. Also, to make it easier for the card holders, it can be reloaded at any participating Oakland-area stores.
SF Global is the company which will help operate this combination ID/Prepaid card program along with MasterCard and Minnesota-based University National Bank. Thus, a large number of people will now have access to a Master Card.
Fees attached with combination ID/Prepaid card
There are various fees attached with combination ID/Prepaid card. Let’s take a look at some of them:
A fee if $2.95 fee to load money in the card
A monthly fee of $2.99
A fee of $15 for the debit card/ID
An ATM withdrawal fee of $1.50
A fee of $1.75 for contacting customer care
A fee of 75 cent for shopping and purchasing
It should be noted here that the fees charged for combination ID/Prepaid card is quite less than those charged by the check cashing outlets. As a result, it is expected that many people will get attracted to this program. Most importantly, people won’t have to provide their social security number while reloading their cards. However, if someone can provide documents and social security numbers, then the cards will be available at quite a low cost.
The city of Oakland has started accepting application forms for these cards. The applicants will have to provide photo identification and any Oakland residency proof with their application forms.
With the help of combination ID/Prepaid card, the users will be able to take advantage of direct deposit, as well as opt for online shopping. Thus, the card users will be able to get affordable financial services. The city of Oakland is expected to issue 6000 cards this year.
Now that you know all about combination ID/Prepaid card, if you are a resident of Oakland, you can go ahead and take advantage of this.
Combination ID/Prepaid Card