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Government Prepaid Card

Government Prepaid Card. Presented by: Bank of America. 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

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Government Prepaid Card

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  1. Government Prepaid Card Presented by: Bank of America

  2. 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

  3. 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 • 24 / 7 Customer Service • Cardholder Web Access • Program Manager Web Access • Electronic Reporting • Fraud & Lost Card Protection • New account set up • Plastic/Plastic Printing • Card Mailers • PIN / PIN mailers • Disputes processing

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

  5. 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

  6. 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

  7. 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

  8. 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

  9. 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

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