The National Check Cashers Association (NaCCA) and Citicorp Services Inc., are teaming up to offer a debit card for recipients of federal benefits as well as individuals interested in direct deposit of payroll checks. The card will be offered through Citibank Delaware.
The NaCCA Preferred Card Program is primarily targeted toward people who want the convenience of direct deposit, but do not have traditional bank accounts. The program is available to NaCCA members, an organization that represents 3,500 of the nationís check cashing outlets.
Through the program, individuals can sign up to have their federal benefit payments and/or payroll deposits directly deposited into a special NaCCA Preferred Card account. These customers will be issued a NaCCA Preferred Card and a PIN which will enable them to use the debit card to access their cash and make purchases at participating NaCCA stores and retailers, as well as use participating ATMs.
"Now anyone, even those without a bank account, can enjoy the advantages of getting their benefits or payroll deposits electronically.íí
NaCCA expects to enroll over 100,000 customers in the program during its first year. "This is only the beginning,íí said Wolf. "The NaCCA Preferred Card Program will help to position the check casher as the single source for their customersí financial services.
