The Bancorp Bank Prepaid Cards
The Bancorp Bank is a consumer bank that specializes in helping individuals with past credit problems enjoy the use of prepaid debit cards. With Bancorp's prepaid cards, you can take part in exclusive rewards programs, make use of mobile banking features, receive text alerts, and use direct deposit. Some other perks include possible cash bonuses (depending on the card) and online bill pay. The best thing about Bancorp Bank prepaid cards is that everyone qualifies, no matter what their credit history looks like.
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A Look At Prepaid Debit Cards from The Bancorp Bank
Who is Bancorp Bank? The Bancorp Bank is a subsidiary of The Bancorp, Inc. and was founded in 2000 in Wilmington, Delaware. It quickly became one of the premier online consumer banks thanks to its numerous account offerings such as online checking and savings accounts, along with investment and loan products which include their line of prepaid debit cards. These offerings have net them almost $2 billion in assets as of 2008. What’s unique about Bancorp Bank is that it has the ability to set up private label banking for non-banking companies. No other bank in the industry has been able to duplicate this. Here are some of the benefits of Bancorp Bank’s PrePaid Debit Cards:
- No Annual Fee: None of Bancorp Bank’s prepaid debit cards carry an annual fee. Many cards don't have deposit fees, transaction fees or overdraft fees either.
- Free Direct Deposit: Loading these cards is a snap. Simply sign up for employer direct deposit, which is free of cost, and have your paycheck loaded onto your card each and every payday. The more cash you deposit into your secured savings account, the higher your card limit will be.
- Interest Bearing Savings: The money you deposit into your savings account is not depleted when you make purchases. In fact, the money that you have deposited into your savings account will accrue interest for the entire time it remains in your savings account. Then, when your account is closed, you receive the principal plus interest as a reimbursement.
- No Credit Check: The Bancorp Bank offers their prepaid debit card products to everyone, regardless of their credit history. In fact, they don’t even require a credit check when you apply. Why? Because your deposit into a Bancorp Bank savings account secures your card, not your credit. This makes obtaining a card accessible for everyone.
So, if you are an individual with a poor credit history or someone who is just starting out and who needs access to a card, think about signing up for a Bancorp Bank prepaid debit card. With low account sign up fees, reasonable interest rates and the ability to deposit into your savings account through free direct deposit, Bancorp Bank cards offer a great alternative to using cash.
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