• The card is available at local convenience stores and grocery stores, allowing customers easy access to banking services.  The monthly cost is less than the cost to cash a single check at many check cashing services.

• The card also acts as a phone card and has low phone rates.  Since many of the consumers served by this card rely on phone cards, this service offers both convenience and savings.

• The direct deposit option offers additional security for customers.  It isn't safe to travel with large sums of money in your pocket, but with the BanXcard, you can have your entire paycheck directly deposited to the card.

The MetaBank BanXcard Maestro Card is available at grocery stores, convenience stores, retailers and check cashing services. It combines the functionality of a prepaid credit card with the convenience of a low cost telephone card.

The Maestro card is designed to serve consumers who do not have access to traditional banking services, such as those who travel regularly for work or those with lower incomes. It allows card holders to cash checks without the high fees often charged to people who have no bank account. Direct deposit to the prepaid Maestro card is available allowing under-served consumers the convenience and safety of a credit card.

Banking Services for Low Income Customers

For consumers without bank accounts, money management can be difficult. Check cashing services often charge high fees. With a Maestro card, funds from a pay check or other sources can be available immediately. What’s more, the card can be used to make purchases or to simply withdraw any funds available from an ATM with a Cirrus or Maestro logo.

Unfortunately, many consumers are unable to obtain bank accounts or credit cards because their income is too low to qualify for these services. Maestro is designed specifically to serve these consumers. Low income consumers also often have no access to long distance phone services and, as an alternative, use phone cards. Since the Maestro card doubles as a low rate telephone card, cardholders can save money in this respect as well.

Fees and Interest

Most low income consumers without bank accounts must spend money to cash checks. They have to carry cash or keep it in their homes where it is not secure. The Maestro card is available for a monthly fee of $2.95, with no transaction fees and no check cashing fees. There is also no activation fee.

To apply for a Maestro card it is necessary to have a social security number and a government issued photo ID. This is required by federal banking laws. All credit cardholders must present this information before being issued a card. This helps to avoid identity theft, tax evasion and fraud. 

Retail outlets that cash checks regularly charge $3.00 to $5.00 to cash payroll or government checks.  For a person living on a low or fixed income, these charges add up quickly. The single monthly membership charge offers low income Americans the opportunity to participate in banking services without the cost. The convenience of combining a phone card with a prepaid credit card means not losing money on prepaid phone cards that don't have enough minutes left for your call. You can check your balance easily and know exactly how much money is available.
The only transaction fees that apply on a MetaBank BanXcard Maestro card are the fees for transferring funds through an ATM. You can transfer funds internationally for a low fee. While Maestro charges no fee for ATM transactions, the ATM company fee does apply.

Security for Consumers

A Maestro MasterCard offers the security of a bank account. It isn't necessary to carry cash since the card is good at thousands of ATMs, convenience stores, grocery stores and retailers. Carrying cash can be a problem for many low income consumers since if it is stolen it can never be replaced. The Maestro card can be used like cash, but the money cannot be accessed easily by an unauthorized person because of the PIN requirement. With the Maestro, any retail outlet that you choose to do business with must have a PIN capable system in place for you to be able to use the card.

If the card is lost or stolen, the customer should report the loss promptly. The account funds can be placed on hold until a new card is issued to the account holder.

Many people without access to banking services have to use Western Union or Money Gram to transfer funds to friends and family. The fees charged by these services can be high. The transactions must be made in cash and the locations for these transfers may not be convenient. A Maestro MasterCard is an easy way to transfer funds from any ATM.

Why A Metabank BanXcard Maestro Card?

MetaBank issues more prepaid credit cards than any other US bank. They account for about 50% of all prepaid credit cards issued. MetaBank is dedicated to providing banking services to Americans that are under served by traditional banking services. The Maestro card is a relatively new edition to the financial services offered by MetaBank and they are proud to be able to serve consumers who have never had access to banking services before.

MetaBank is a member of FDIC which insures the funds deposited by account holders. FDIC means money loaded on a Maestro card is safe. In order to better serve its customers, MetaBank has made the Maestro card available at neighborhood convenience stores and retailers so that low income consumers have easy access to their services. Local stores serve as a bank branch allowing cardholders to load their cards while they run other errands.
Direct deposit saves employers money and many employers prefer direct deposit to paper checks. It also allows cardholders immediate access to their paycheck. If it is payday and you don't have the gas to get home, you can use your Maestro card, which already has your paycheck funds available.

The federal and state governments have found that checks and cash are not practical for low income Americans. Government assistance programs now load funds onto government issued credit cards.  Working families often don't qualify for government assistance. They also don't qualify for traditional bank services. The Maestro card fills the gap.

The MetaBank BanXcard Maestro card is not intended for everyone. Many Americans who are under served by the banking community can qualify for other prepaid credit cards. This card is intended for those who have never had access to banking services and who might not qualify for other prepaid cards. Many prepaid cards require that account holders have a minimum balance. This is difficult for low income families who need every dollar they earn.
The MetaBank BanXcard Maestro Card is specifically for those people who never thought they would have access to banking services. The low monthly fee, no transaction fees, and great phone card rates help the low income working family keep more of the money they earn. Offering banking services in a nontraditional environment allows virtually anyone access to the security and convenience of a checking account.

Think the MetaBank BanXcard Maestro is for you? Apply today!