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Prepaid Debit Card Statement - PowerPoint

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Prepaid Debit Card Statement - PowerPoint Powered By Docstoc
					Government Prepaid Card




Presented by:
Bank of America




                  1
Why choose the
Government Prepaid Card?
• Reduces expenses associated with disbursement
  activities
• Effective tool to achieve charge card delinquency goals
• Offers a tool to improve management oversight of
  programs and processes
• Population of non-charge card travelers increasing
• Offers an immediate, reliable funding source
• Offers immediate load and unload functionality
• Leverages commercial charge card controls
• Authorization controls available
• 24 hour on-line WEB and live customer service


                      2
Product Offering and
Servicing Capability
   The prepaid product is a non-chip, magnetic stripe card without
    the extension of traditional credit.
   Provides ability to issue Visa or MasterCard branded cards and
    pre-fund the card account for the purchase of goods and/or
    services.
   Value decreases as spending occurs.
   Product allows for additional dollar value to be placed on, or
    removed from the card.
                   Annual Servicing
                                Monthly online Statement
•New account set up
      •Plastic/Plastic Printing       24 / 7 Customer Service
      •Card Mailers                   Cardholder Web Access
      •PIN / PIN mailers
                                      Program Manager Web Access
•Disputes processing                  Electronic Reporting
                                      Fraud & Lost Card Protection

                            3
Government Prepaid Card
Funding
• Funding Options include:
   – ACH Debit (On-Us)
   – ACH Debit (Not-on Us)
   – ACH Credit
   – Charge Card (Bank of America CBA)




                   4
Control Features

• Reporting (transaction history, card balances, audit
  report, value load and unload, residual balance)
• MCC Controls
• Merchant authorization spending controls
• Merchant blocking controls
• Online transaction history
• Card Cancellation Functionality
• Ability to view all cardholder balances within a hierarchy
  point




                       5
Acceptance

• Visa or MasterCard Card:
   – Accepted Everywhere Visa or MasterCard is accepted
   – Credit Card Bank Identification Number (BIN)
   – Includes acceptance at rental car agencies
   – Can be used in any ATM with applicable network
     access




                    6
Ease of Maintenance

• Clearing Negative Balances
   – Why negative balance?
      • Paper Transactions
      • Forced Authorizations
      • Timing Issues
   – Options for Cardholders to Clear Negative Balances
      • Personal Charge Card
      • Personal Debit Card
      • Personal Check
      • Agency Value Loads More Funds




                     7
Issuance Options

• Cardholder name embossed on the card
   – Cardholder would receive the card much as he/she
     would receive any other kind of payment card (7-10
     business days from enrollment)
   – Expedited cards available for a $20 fee
• Generic Cards
   – Card can be embossed with generic names
   – Single cards can be used by multiple cardholders




                     8
Personal Prepaid – Overview
(Phase 2)
• Debit Card Bank Identification Number (BIN)
• Provides ability to issue Visa or MasterCard branded
  cards
• Can be used in any ATM with applicable network access
• Offers an immediate, reliable funding source
• Authorization controls available
• 24 hour on-line WEB and live customer support
•   Cardholder names can be embossed on the card
•   Instant issue cards without names embossed
•   Flexible funding options: CBA or DDA
•   Supports Hierarchy level reporting



                      9

				
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