TIO Networks Announces Availability of TIO Prepaid MasterCard(R) and New NetSpend National Savings Program for Cardholders
31 Enero 2008 - 7:00AM
PR Newswire (US)
Promotional Rate of 5.00 Percent Now Available Through NetSpend's
National Savings Program BURNABY, British Columbia, Jan. 31
/PRNewswire/ -- TIO Networks Corp., North America's leading
automated non-bank financial services network (TSX-V: TNC),
announced that the initial deployment of its TIO Prepaid MasterCard
program to 75 EWIZ stores has met the pilot criteria and will be
rolling out to all 400 EWIZ stores across the United States and
another 300 stores scheduled for future deployment. TIO also
announced a new initiative to make NetSpend's National Savings
Program available to TIO prepaid MasterCard cardholders. NetSpend
cardholders can earn up to 5.00 percent interest on an annualized
basis by linking their MetaBank-issued prepaid cards to an
interest-bearing savings account. The program benefits under-banked
Americans and/or those who prefer not to establish accounts with
traditional banks. The NetSpend National Savings Program's
promotional 5.00 percent annual percentage yield will apply through
March 2008 and move to 3.00 percent on an annualized basis
thereafter. Interest is calculated on the average daily balance and
paid quarterly. Funds in the program are held by Inter National
Bank, member FDIC. There is no minimum deposit to enroll in the
program, no minimum monthly balance to maintain and no additional
monthly service fees. "TIO Networks was one of The Center for
Financial Services Innovations' earliest investments," commented
CFSI's Associate Director, Arjan Schutte, who manages the Center's
investment funds. "There is tremendous potential in the
under-banked market for a quality prepaid card-based savings
product, but few existing options. This partnership transforms
TIO's turnkey kiosk into a multi-functional financial solution,
providing its cash preferred customers with the opportunity to have
a more robust and managed economic future." "NetSpend's National
Savings Program makes it convenient for under-banked Americans to
manage their money better by setting part of it aside," said
NetSpend Chief Executive Officer Rick Savard. "We are pleased to
extend our agreement with TIO Networks to offer cardholders a 5.00
percent promotional interest rate on an annualized basis so that
the money they set aside will grow at a rate that surpasses that
offered by many commercial banks." "With the new savings program,
consumers can easily start earning interest with their reloadable
TIO Prepaid MasterCard," said Hamed Shahbazi, CEO of TIO Networks.
"The program is available free of charge and fits in with TIO's
strategy to offer a comprehensive suite of financial services to
the under-banked." Cardholders can enroll in the program online at
http://www.thetiocard.com/ or by calling 1-86-NETSPEND to link
their prepaid cards to an interest-bearing savings account. Once
this occurs, cardholders can add funds to their savings accounts
via free transfers from their prepaid reloadable debit cards. About
TIO Networks Corp. TIO Networks Corp. powers the largest and most
convenient national network of cash accepting ATMs for the 'cash
preferred' consumer marketplace in North America. TIO symbolizes
safe secure access to key financial services including bill
payment, prepaid and money transfer. For more information, please
visit http://www.tionetworks.com/ About NetSpend Corporation
NetSpend Corporation is one of the premier providers of innovative,
accessible prepaid debit cards that enable financial freedom for
under-banked consumers. Grounded by a mission of financial
empowerment, NetSpend is committed to meeting its customers'
financial services needs on their terms while offering the
convenience, security and acceptance of conventional financial
services. NetSpend's proprietary processing platform allows it to
support prepaid card programs end-to-end from customer acquisition
and card fulfillment to customer service and risk management. The
NetSpend(R) Prepaid Card Network includes leading consumer brands
and companies serving the un-banked and under-banked markets, and
its strategic relationships include card issuers, EFT networks and
payment card associations. For more information, visit
http://www.netspend.com/. About MetaBank MetaBank is a
federally-chartered savings bank headquartered in Storm Lake, Iowa.
Meta Financial Group, Inc.(R) is the bank holding company for
MetaBank, MetaBank West Central, Meta Payment Systems(R), and Meta
Trust Company(R). The Meta Payment Systems division of MetaBank
based in Sioux Falls, South Dakota, serves banks, processors, and
third party marketers by providing prepaid cards, credit cards, ACH
origination, merchant acquiring, ATM sponsorship, and money
transfer. Meta Financial Group is traded on the NASDAQ - Global
Market: CASH. For more information call 605.275.8052 or visit
http://www.metacash.com/. The TIO Prepaid MasterCard is issued by
MetaBank, pursuant to a license from MasterCard International
Incorporated. About Inter National Bank Although the McAllen,
Texas-based bank is relatively young, having been founded in 1985,
it has staked a position as a strong leader in the banking
industry. In fact, in 2002 the American Bankers Association's ABA
Banking Journal named Inter National Bank the top performing
non-Subchapter S bank in the nation with assets between $100
million and $1 billion. For more information, visit
http://www.inbweb.com/. For More Information Contact: Behshad
Hastibakhsh, Media Relations - TIO Networks Tel: 604.298.4636, Ext.
250 Toll Free: 888.679.3322 Email: John Lewis, Business Development
- TIO Networks Tel: 416-364-2266 Email: Amy Shields or Meghan
Butler GCI Read-Poland for NetSpend Corporation Tel: (512) 472-4122
The TSX Venture Exchange has not reviewed this news release and
does not accept responsibility for its adequacy and accuracy.
DATASOURCE: TIO Networks Corp. CONTACT: Behshad Hastibakhsh, Media
Relations, +1-604-298-4636, ext. 250, Toll Free, 1-888-679-3322, ,
or John Lewis, Business Development, +1-416-364-2266, , both of TIO
Networks Corp.; or Amy Shields or Meghan Butler, both of GCI
Read-Poland, +1-512-472-4122, for NetSpend Corporation Web site:
http://www.tionetworks.com/ http://www.metacash.com/
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