On November 18, Urban Trust Bank announced a new fee schedule for its popular prepaid debit Visa card, the Urban Trust Success Card. The new lower fees reflect the companies aim to provide a low cost alternative to consumers who face challenges with traditional banking products.

The simple fee structure applies to all Urban Trust Visa cards. The fees are simple and transparent, and Chairman of Urban Trust Bank, Robert L. Johnson, announced that the card will offer no hidden fees and numerous free features.

Johnson believes

in the importance of prepaid debit cards and hopes the Urban Trust card will enable people to have better access to their money and have the financial tools they need to succeed.

Under the simple fee structure of the card, all fees are easily understood. Consumers will pay $4.95 to activate the card. They will also pay a $4.95 monthly fee for unlimited transactions. ATM withdrawals are $2.50 each. There are no overdraft fees, late fees or insufficient funds fees and consumers can use the card anywhere where Visa is accepted as well as at a wide network of ATM’s.

No cost features include automatic direct deposit, online and mobile account management and account inquiries online or via phone.