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With tax season coming to an end in the next few weeks, taxpayers and the Treasury Department alike will be waiting to see the results of a pilot program for issuing refunds on prepaid debit cards.
This differs from prepaid cards where money is on deposit with the issuer similar to a debit card. One major difference between stored value cards and prepaid debit cards is that prepaid debit cards are usually issued in the name of individual account holders, while stored-value cards are usually anonymous.
The U.S. Treasury is getting into the prepaid debit-card business, launching a pilot program targeting 600,000 taxpayers who receive tax refunds and inviting them to receive that money on a debit ...
The Treasury Department is launching a pilot program to deliver tax refunds via prepaid debit cards rather than checks. The plan aims to cut down on the administrative costs associated with checks ...
It is the world's largest prepaid debit card company [2] by market capitalization. Green Dot is also a payment platform company and is the technology platform used by Apple Cash, [3] Uber, and Intuit. The company was founded in 1999 by Steve Streit as a prepaid debit card for teenagers to shop online.
Advantages of prepaid debit cards include being safer than carrying cash, worldwide acceptance, not having to worry about paying a credit card bill or going into debt, the opportunity for anyone over the age of 18 to apply and be accepted without checks on creditworthiness, and the option to deposit paychecks and government benefits directly ...