BURNABY, British Columbia — TIO Networks has announced that the initial deployment of its TIO Prepaid MasterCard program to 75 EWIZ stores that have met the pilot criteria. The program will be rolling out to all 400 EWIZ stores across the United States and another 300 stores scheduled for future deployment, according to a news release.
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 five 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 those who prefer not to establish accounts with traditional banks.
The NetSpend National Savings Program's promotional five percent annual percentage yield will apply through March 2008 and move to three 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.
