Tag Archives: prepaid cards

Large Banks Adopt New Standards for Low-Cost Accounts

The four largest nationwide banks -- JPMorgan Chase, Bank of America, Citigroup and Wells Fargo -- have implemented or agreed to implement the Bank On National Account Standards for bank products that are low-cost, low-fee and overdraft-free.

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Boston Fed: Unbanked More Likely to Use Prepaid Cards

People without checking accounts are nearly twice as likely as those who do have checking accounts to own a general-purpose, reloadable prepaid card, according to researchers at the Federal Reserve Bank of Boston. Twenty-four percent of the banked have a prepaid card, while 45 percent of the unbanked do, they found.

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