RushCard announced today a new tool and a cashback reward that helps hard-working members who want to budget and save, but are finding it difficult to do so with the big banks. The new feature, RushGoals, is designed to help underserved customers achieve their financial goals. It couldn’t be timelier, as recent changes in financial regulations have triggered increases in monthly banking fees charged to low-balance customers.
RushGoals enables Cardholders to create personal financial goals, put money aside in a separate sub-account, and track their progress. Cardholders can establish multiple goals by setting up multiple sub-accounts, all tied to a single Prepaid Visa® RushCard.
In each month in which a Cardholder maintains an average daily balance of $500 or more across their Goals sub- accounts, the Cardholder will be rewarded with $2 that will be applied toward their RushCard fees.
While banks are making it clear that lower-income customers are no longer as profitable to them, RushGoals is rewarding its members, paying them whenever they maintain a $500 balance in a Goals sub-account. This $500 balance is significantly lower than the minimum daily balance that some big banks require in order for the customer to avoid paying a monthly fee! RushCard is offering customers $2 in cashback on a $500 balance ($24 if the balance is maintained for a full year); providing a return that most banks simply do not offer.
Cardholders can set up short-term or long-term Goals, and put money toward them by transferring money from their card manually or on a recurring schedule. RushCard will create a strategy to help them reach their Goals based on how much the member can save each month, or the date that the goal needs to be reached.
“Millions of Americans have grown frustrated with financial institutions,” said RushCard founder, Russell Simmons. “With RushGoals, we not only give customers money back, we’ll also help them realize their financial goals. This is just one of the ways RushCard continues to look beyond traditional prepaid card programs to create more tools to improve the overall financial well-being of our members.”
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The RushGoals feature is the latest in a suite of money-saving solutions that include budgeting tools, prescription drug discount cards*, mobile phone applications, card-to-card transfers, and free text alerts**. According to Simmons, “RushCard will continue to be the recognized leader in prepaid cards and related services, enabling our customers to take control over their financial lives and embark upon the path toward financial well-being. In the coming months, we’ll be announcing additional new features, including the ability for RushCard direct deposit customers to receive access to their funds up to up to 2 days before their payday.”
To learn more about the Prepaid Visa RushCard and its financial empowerment program, visit www.RushCard.com.
*The Bancorp Bank is not affiliated in any way with this product and does not endorse or sponsor this offer.
**Standard text messaging rates from your wireless service provider may apply.
About UniRush LLC
Headquartered in Cincinnati and New York City, UniRush LLC provides members with access to services that enable them to achieve their personal and financial Goals. The RushCard offers the more than 60 million Americans without access to a traditional banking relationship an array of basic financial services via the Prepaid Visa RushCard. Benefits of the program include direct deposit, card-to-card funds transfers, online budgeting tools, the ability to withdraw funds at more than 850,000 ATMs globally, the ability to use the card wherever Visa debit cards are accepted, and a suite of health products to help those underserved by the insurance industry. RushCard is issued by The Bancorp Bank pursuant to a license from Visa U.S.A. Inc. and may be used wherever Visa debit cards are accepted. The Bancorp Bank; Member FDIC. For more information about UniRush and RushCard visit www.rushcard.com or find us at Facebook.com/Rushcard or on Twitter @RushCard.
