JPMorgan Chase & Company (NYSE: JPM) has joined the trend of large consumer banks issuing their own line of prepaid debit cards. Following a turbulent national economic collapse and tougher federal regulation, many of the larger national banks like Chase are seeking new forms of revenue. Chase has branded their offering as The Chase Liquid Prepaid Card.
According to JPMorgan Chase, the new Chase Liquid Prepaid Card was made available to the general public in the summer of 2012 at around two hundred Chase retail branch banks. Consumers can now obtain the Chase Liquid Prepaid Card at most branches as well as online. Typical of a prepaid debit card, Chase states that there will be no Chase checking or savings account required. Individuals typically load their own personal funds on plastic prepaid cards taking advantage of one of the major network brands like Visa, MasterCard, American Express or Discover. Chase Liquid will bear the Visa logo accepted by millions of merchants worldwide.
Besides no credit check, the Chase Liquid Visa claims to offer other benefits like FDIC account protection and a $4.95 monthly fee with no other hidden charges. Even though many prepaid cards state “no hidden charges”, we at GetDebit always encourage consumers to read each card’s terms and conditions. For example, Chase claims that no charges will be incurred by customers for making deposits or withdrawals from the company’s branches or ATMs, although someone using the card at a non-Chase ATM, might definitely incur a “non bank” ATM fee.
The Chase Liquid prepaid Visa should be a top choice for consumers seeking a prepaid card with low fees and excellent ATM access choices.