Analysis of Network Branded Pay Cards
August 15, 2011
Legislation is pending at the state and federal levels to add regulations/restrictions to payroll/pay cards. This report, focuses on the consequences of the final rules of the Durbin Amendment.
Bretton Woods was engaged to analyze the costs of payroll cards relative to other options open to employees including basic bank checking accounts, general purpose reloadable prepaid cards and cash (check cashing) to provide an objective comparison of costs consumers could incur using each of these options. It should be noted that in some cases, employees may not have the option of a basic checking account due to either cultural or cost concerns of having a checking account or the inability to qualify for a checking account due to previous mishandling of the product.
Bretton-Woods-Branded-Pay-Cards-Report
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