Skip to content
GeoDataVision
Learn More - Click Here!

Thread Options
#1638294 - 12/13/11 03:08 PM Prepaid cards and OD programs
notuntermywatch Offline
Gold Star
Joined: Jun 2006
Posts: 392
MN
I thought I had read somewhere that banks with assets greater than $10 billion could not offer a OD type product in connection with the prepaid card.

However, I can't find that now.

Could anyone point me in the direction of where this may be discussed or clarified? Or maybe i'm just dreaming!

I tried reading the actual act and I'm more confused than ever!

Return to Top
#1638402 - 12/13/11 05:48 PM Re: Prepaid cards and OD programs notuntermywatch
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 79,926
Galveston, TX
How do you have an OD with a prepaid card?
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top
#1638492 - 12/13/11 07:53 PM Re: Prepaid cards and OD programs rlcarey
notuntermywatch Offline
Gold Star
Joined: Jun 2006
Posts: 392
MN
It's an add on product.

There are a few program managers/processors who offer this right now (google prepaid overdraft protection). Follows all the same rules as a traditional bank bounce protection product. Customers have to elect to have it.

And I thought I had read that this product was not allowed to be offered if the issuing bank was greater than $10 billion, but I can't find that article now.

Just trying to figure out if I'm imagining this smile

Return to Top

Moderator:  Andy_Z