New Ways Of Exporting Money
Yvette Armendariz writes for the Arizona Republic about new ways to send remittances including one introduced Tuesday by Stored Value Cards Inc. called the Futura Maestro Prepaid Debit Card, issued by MetaBank under license from MasterCard.
Futura comes with the option of one or two cards. One card is kept by the user in the United States. The optional second card can be sent to someone abroad.The card allows users to have paychecks or other money deposited into the debit card for a $9.95 monthly fee. The card can be used to transfer funds to a second card, which costs $2.95 a month, plus a 50-cent fee for PIN purchases.
The product is touted as safer than money transfers because the receiver isn't leaving a store or bank with a large amount of cash, making them a target for theft. The PIN helps protect the money from unauthorized use.
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