Comerica (CMA) in Dallas is the latest bank to announce plans to enter the prepaid card market.
The bank has been testing its Convenience Card since April through a pilot program at certain branches in Michigan, and plans to launch it officially later this summer, the $62.5 billion-asset company said Tuesday.
The card has a monthly fee of $3.95 and Comerica will provide some services related to the card for free, according to an email from a bank spokesman. For example, customers will be able to load money onto the card at Comerica branches and pay bills online for no additional charge.
