STRATEGIC PARTNERS
February 24, 2002
PHOENIX -- The National Check Cashers Association (NaCCA) and Citicorp Services Inc. are teaming up to offer a new debit card through Citibank Delaware. The card will be available to recipients of federal benefits and those interested in direct deposit of their payroll checks.
The new program, called the NaCCA Preferred Card Program, will be available in early 1999 from participating members of NaCCA, an organization that represents 3,500 of the estimated 5,500 to 6,000 check cashing outlets nationwide. It is primarily targeted toward people who want the convenience of direct deposit but do not have traditional bank accounts.
Individuals can sign up to have their federal benefit payments and/or payroll deposits directly deposited into a special NaCCA Preferred Card account at Citibank. These customers will be issued a NaCCA Preferred Card, along with a four-digit PIN, which will enable them to access cash at participating ATMs and make purchases at participating retailers.
Participating NaCCA locations can also provide services to other customers through the NaCCA Preferred Card Program because those locations will be able to accept many other bank-issued ATM cards and most state-issued Electronic Benefits Transfer (EBT).
NaCCA expects to enroll over 100,000 customers in the program during its first year.
