ChexCard Overview

WHAT IS THE CHEXCARD?

The ChexCard is a bank-style magnetic stripe card with the official Mastercard ofrVisa logo and hologram. A principal member bank of Mastercard and Visa sponsors MERCHANT BANKCARD SERVICES CORPORATION, the originator of the ChexCard, and provides dedicated PIN numbers for our card programs. ChexCard can also be issued as a private labeled card with a major brand logo such as Coca-Cola as well as the bankcard logo. ChexCard uses the latest communications and electronic banking technology through large bank-processing vendors to create the ideal solution:

ALL APPLICANTS APPROVED

ChexCard can be issued without the formal opening of a bank account and without credit or bank approval. All applicants are issued cards. All account funds are held in trust at our sponsor banks and are FDIC insured.

SIMPLE ISSUANCE

The only regulatory requirement for card issuance is a valid name and address. NO P.O. BOXES PLEASE. Multiple cards can be issued to family members.

OFFICIAL BANKCARD

The card is produced at a secure bankcard issuance center, embossed with the cardholder's name and mailed to his/her home address.

CARD ACTIVATION

A simple telephone call activates the card.

NON-BANK FUNDING OF CARD

Funds will be deposited in a number of ways. Currently, employers, organizations or governmental agencies may make electronic deposits. Funds can also be transferred electronically from bank accounts. MoneyGram provides guaranteed collection and transfer of funds to ChexCard accounts at over 22,000 U.S. locations.

ATM CASH TRANSACTION

Funds may be withdrawn in a number of ways. The cardholder may withdraw funds at any ATM machine within the continental U.S. and most ATM machines in foreign countries. A 4-digit PIN code is used for these transactions. These are low-cost debit transactions and not high-cost cash advance transactions.

NOT A CREDIT CARD

The Chexcard Mastercard is NOT a credit card. The cardholder may only withdraw funds or make purchases up to the balance on the card. You cannot overdraft the account, and there are no late fees, overdraft or interest charges on the account.

SAFE AND SECURE

Unlike cash, ChexCard is very safe. Cardholders can check available balance or report lost or stolen cards 24 hours a day by dialing 1-888-990-6399 and all remaining balance will be transferred to a new card, which will be mailed to the cardholder.

USE YOUR CHEXCARD TO

Pay Bills, Rent Cars, Reserve Hotel Rooms, Shop At Department Stores, Supermarkets, Shop Online, etc.

U.S. TO MEXICO FUNDS TRANSFER

In a joint venture with a Mexican banking consulting company, we are developing a special cross-border transfer system that moves funds from ChexCard accounts in the U.S. to Visa Electron accounts in Mexico. The service will be far less costly than Western Union. There are an estimated 20 million money transfer made each month.

MERCHANT BANKCARD SERVICES CORPORATION developed ChexCard as a family of products which meet the needs of anyone needing a bank account, or organizations needing to transfer funds to the unbanked.


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