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UniRush plans to lower the fees on its reloadable prepaid cards. The plan was disclosed Tuesday afternoon on the Twitter account of UniRush founder and music mogul Russell Simmons.
January 24
UniRush LLC said Thursday that it is eliminating a string of fees for its reloadable prepaid RushCard and also launching a new pricing plan for customers.
Beginning in February, the company will end fees for bill pay enrollment, individual bill pay transactions, plan changes and replacement cards across all RushCard products.
The company also said that it would lower fees on card-to-card transfers between its cards from $2.95 to 99 cents.
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The company also recently launched a program where customers who maintain an averaged balance of at least $500 across all accounts
Under the new RushUnlimited Plan, which will be available in March, customers will be able to make unlimited signature and PIN transactions for a monthly fee. Customers who use direct deposit for their paychecks will be charged $5.95 a month while other customers will pay $7.95 per month. UniRush's earlier offered two monthly fee options: a flat $9.95 or a fee of $1 per transaction, which would be capped at $10 a month.
UniRush's new pricing puts it in line with Green Dot Corp., which charges $5.95 a month on most products (Green Dot's fee can be waived under certain conditions).
Prepaid card companies have been feeling the pressure to lower fees as newer and less pricey competitors have entered the marketplace.
