Chase’s latest effort to win over customers that find traditional checking to be too expensive is called Liquid. But the company might be better served calling its new prepaid product the “Simple” card, or the “Flat” card.
That’s because what makes Liquid different from other cards in the market, according to Chase VP Jonathan Wilk, is the simplicity of its fee structure. It doesn’t cost money to deposit a check into a Liquid account, and there are no fees for making cash deposits “” instead, there’s just one fee, a flat $4.95 monthly charge to keep the account open.
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In an interview with PYMNTS.com, Wilk explains how the Chase Liquid card complements Chase’s existing line of financial products and services, why the card isn’t just for underbanked consumers, and what future features we can expect to see added to Liquid in the short term.
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