Consumers will soon be able to pick up a Rush prepaid card along with their groceries. A new version of Russell Simmons’ RushCard—the RushCard Live Reloadable Prepaid Visa Card—will be sold at retail locations nationwide. Previously, RushCards were not available in stores.
The new card, which will be issued jointly by UniRush and Green Dot, is scheduled to arrive in thousands of Green Dot partner retailers later this month. Customers can load money onto the card at any store that sells it with a simple swipe. They can also have paychecks deposited directly onto the card, pay bills online, and get cash at more than 22,000 ATMs that participate in the MoneyPass network.
The RushCard was previously available online only and did not offer free ATM transactions. The RushCard Live gives greater consumer access to prepaid accounts through the Green Dot Bank, which is FDIC-insured and partners with retailers across the country. The new card also lets customers get cash from ATMs without a fee, a feature the RushCard doesn’t have.
Like the RushCardand many other prepaid cards, RushCard Live can be used in place of a bank account, and is a viable option for the unbanked, estimated to be 20% of the population. Government benefit checks, military pay, and other payroll checks can be direct deposited onto the card. Because the RushCard offers early payroll deposit, funds will be available up to two days earlier than if they were transferred to a traditional bank account.
The RushCard Live offers two different plans: per use, and per month. The per use plan has no monthly fee, but charges $1 each for the first ten transactions each month, for a maximum charge of $10 per month. There is a $1.95 per month inactivity fee after 12 months without any spending or loading activity. The per month plan costs $5.95 a month and has no inactivity fee. Also, any month that a cardholder loads over $1,000 to the card or makes at least 30 purchases, the $5.95 fee will be waived.
Customers who use the card frequently, such as those who use it in place of a checking account, will get the best value from the per month plan, while those who use the card only occasionally may prefer the per use plan. Both plans offer direct deposit, early payroll deposit, no-fee ATM transactions, and bill pay service.