InComm Adjusts Fees on Reloadable Prepaid Mio Cards

The launch of the Mio Card's new Advantage Rate Plan is a landmark event in the reloadable prepaid card marketplace, as consumers can now enjoy all the benefits of owning a Mio Card with no monthly fees. In fact, the new rate plan is so competitive that the company is moving all of its existing cardholders on the Value and Fee Based rate plans to the new Advantage Rate Plan.

"This represents a giant leap forward for the reloadable prepaid card industry, because now consumers have access to all the advantages that prepaid cards offer without having to pay a monthly fee," said Brooks Smith, InComm President and CEO. "InComm is committed to providing all of our customers with the best products and services available in the marketplace today, and we are very pleased to pass this benefit along to the consumer."

Mio Cards are available for purchase at convenient retail locations across the United States, including Pilot Travel Centers, Love's Travel Stops & Country Stores, Fred's Discount Stores, Village Pantry Convenience Stores, Duckwall-ALCO Stores, Cash America International and more. In Puerto Rico, Mio Cards are available at Supermercados Pueblo, Blockbuster and Farmacias El Amal.

Customers can purchase a Mio Card at a retail location and then activate it by calling Customer Service and providing information in compliance with the USA PATRIOT Act. Upon successful identification verification and approval* and activation completion, cardholders can use the Mio Card the very same day. Customers then receive a personalized Mio Money Prepaid MasterCard in the mail five to seven business days later.

Mio Money MasterCard is accepted anywhere Debit MasterCard is accepted and the Mio Now Card can be used at millions of ATM locations worldwide. There is no credit check or bank account required to obtain a Mio Card, and with no monthly fees, the Mio Cards can save consumers hundreds of dollars in fees they might otherwise have to pay for cashing checks or managing their money.

"Over the past 15 years, we have learned a lot about prepaid consumers. One thing that is very clear is that the prepaid consumer doesn't mind paying for services they use, but they do not like to pay when they don't use it," said Smith. "Therefore, InComm believes that we need to lead the industry in pricing and give the freedom and control back to the consumer. When they use the card they pay a fee, but there is no longer a monthly fee."

The reloadable prepaid card marketplace is gaining tremendous popularity among a number of consumer groups who appreciate the many advantages the product offers. Mio Cards can be used for direct payroll deposits, family budgeting, secure online purchases and many other uses. Customers enjoy the benefits of owning two cards with free direct deposits, free point-of-sale purchases (domestic signature purchases), free customer service, free online statements with instant and historical transaction records and free ATM balance inquiries.

"With the launch of the Advantage Rate Plan, the Mio Card is now the clear leader in the reloadable prepaid card marketplace," said Smith. "We are so excited about the benefits that this new rate plan offers consumers that we have automatically transitioned all of our current cardholders to this new plan, saving our customers hundreds of thousands of dollars in monthly fees while still providing them with all the fantastic benefits of owning a Mio Card."

For more information, or to find a Mio Card purchase or reload location near you, visit http://www.miocard.com or call Mio Card customer service at 1.866.840.Mio1 (6461).

The Mio Money MasterCard is issued by BankFirst, Sioux Falls, S.D. pursuant to a license from MasterCard International Incorporated. BankFirst;Member FDIC. The cards are offered by ITC Financial Licenses, Inc.