PLS and Netspend Offer Interest on Savings Accounts at Ten Times the National Average

Share Article

PLS is offering interest on savings accounts at ten times the national average through its PLS Gold Prepaid Card. Millions of Americans are turning to prepaid debit cards as a more convenient and affordable alternative to credit cards and checking accounts. And now they can take advantage of a promotional interest rate of 5.00% APY† paid on savings accounts linked to the PLS Prepaid Card, offered through NetSpend.

The PLS Gold Prepaid Card is unique because of the savings account option

As millions of American consumers turn to prepaid debit cards as a more convenient and affordable alternative to credit cards and checking accounts, the PLS Gold Prepaid Card offers an even more compelling reason to switch: a promotional interest rate of 5.00% APY† paid on savings accounts linked to the card.

"The PLS Gold Prepaid Card is unique because of the savings account option," notes Bob Wolfberg, President, PLS Financial Services. (PLS) "Our customers can earn a promotional 5.00% APY on their savings--ten times the national average--with no minimum deposit."

The PLS Gold Prepaid Card, from NetSpend, Inc. (Netspend), of Austin, TX, is available at more than 120 PLS Check Cashers locations in the U.S.

More than $100 million deposited by over 104,000 consumers

PLS's Gold Prepaid Card is a part of the Netspend National Savings Program; all accounts are held by Inter National Bank, member FDIC in McAllen, Texas. Since the program's inception, approximately 104,000 consumers have deposited more than $100 million into their savings accounts, according to the Financial Service Centers of America (FiSCA), the professional trade organization representing the nation's financial service center providers.

The prepaid debit card offers an attractive alternative to the more than 40 million adult Americans who do not have bank accounts. Its appeal also extends to consumers denied access to traditional payment methods, as well as those dissatisfied with overdraft fees charged by banks.

Convenience and security without interest charges or credit checks

"The PLS Gold Prepaid Card gives these consumers the convenience of using their card to make purchases at millions of merchant locations worldwide, and with online retailers that accept debit cards--or to withdraw cash at ATM locations," says Wolfberg. "PLS is committed to ensuring that the millions of 'unbanked' and 'underbanked' consumers in the U.S. have secure and convenient access to the digital economy."

Because the PLS Gold Prepaid Card is paid for in advance, there are no interest charges or overdraft charges. The card is available immediately; there's no wait for credit approval or for a card to be delivered in the mail.

PLS and NetSpend have also simplified the process of loading value onto the PLS Gold Prepaid Card. Customers may choose direct deposit of their paychecks onto their NetSpend card, which are then immediately available for use.

For consumers, a prepaid debit card is a secure and convenient alternative to carrying cash. The PLS Gold Prepaid Card is protected against theft or unauthorized transactions if lost or stolen.

About PLS: People. Location. Service.
Chicago-based PLS Financial Services, Inc., manages more than 350 financial service centers in Alabama, Arizona, California, Illinois, Indiana, Mississippi, New York, Texas and Wisconsin, with more than 3,000 employees. It is one of the largest, fastest growing and most distinguished organizations in the check cashing industry, and is a Western Union money transfer network. In 2008 and 2009, PLS was named one of Chicago's Largest Privately Held Companies, and also a member of 'Fast 50' (Fastest Growing Companies) by Crain's Chicago Business®. The PLS brands include: PLS Loan Store, which provides consumer micro-loans and tax-preparation services; PLS Check Cashers, which offers check cashing, money transfer services, money orders and bill payments; and PLS Vehicle Registration. Contact Barb Wolf, VP Marketing & Communications, 312-491-7888,

About NetSpend Corporation
NetSpend Corporation is one of the premier providers of innovative, accessible prepaid debit cards that enable financial freedom for under-banked consumers. Grounded by a mission of financial empowerment, NetSpend is committed to meeting its customers' financial services needs on their terms while offering the convenience, security and acceptance of conventional financial services. NetSpend's proprietary processing platform allows it to support prepaid card programs end-to-end from customer acquisition and card fulfillment to customer service and risk management. The NetSpend¨ Prepaid Card Network includes leading consumer brands and companies serving the un-banked and under-banked markets, and its strategic relationships include card issuers, EFT networks and payment card associations. For more information, visit

About MetaBank™
MetaBank is a federally chartered savings bank regulated by the Office of Thrift Supervision. Meta Financial Group, Inc.® is the holding company for MetaBank, Meta Payment Systems®, and Meta Trust Company®. For more information, visit

The PLS Gold Prepaid Card is issued by MetaBank pursuant to a license from Visa U.S.A. Inc.

NetSpend Savings Accounts are issued by Inter National Bank, member FDIC. Interest is calculated on the average daily balance of your Savings Account and paid quarterly.

†Annual Percentage Yield (APY) is accurate as of January 1, 2009. No minimum balance is necessary to open the account or obtain the yield. Fees could reduce the earnings on the account. This is a promotional rate. Rates are subject to change without notice

*Source for "10X higher than the national average" language: National Statement Savings Average located at in the Passbook/Statement Savings survey results as of 10/15/08 courtesy of NetSpend National Savings Account APY is currently 10 times the national statement savings average APY.


Share article on social media or email:

View article via:

Pdf Print

Contact Author

Barbara Wolf
Email >
Visit website