ICBA News Release
FOR IMMEDIATE RELEASE
ICBA Recommends Access Prepaid Worldwide as Chip & PIN Travel Card Provider for Community Banks
Nashville, Tenn. (March 12, 2012)—The Independent Community Bankers of America (ICBA) and Access Prepaid Worldwide, an ICBA Preferred Service Provider, today announced that Access Prepaid Worldwide is now offering Chip & PIN enabled prepaid foreign currency cards to community banks. The Cash Passport program enables ICBA-member community banks to offer greater financial control to customers by delivering prepaid travel card solutions that are safer than carrying cash and more convenient than traveler’s cheques.
“Access Prepaid Worldwide’s Cash Passport program enables community banks to offer traveling customers increased financial security,” said Dan Clancy, ICBA executive vice president of services. “Chip & PIN enabled prepaid cards give customers the ability to define their budgets and also ensure that their card will be accepted by foreign retailers that are not prepared to process magnetic stripe cards. Additionally, Access Prepaid offers fraud and theft protections that guarantee customers will always have access to their funds in case of an emergency.”
Available in U.S. dollar, euro and British pound sterling, Cash Passport cards are reloadable and easily replaceable, offering cardholders a convenient alternative to carrying large amounts of currency or travelers cheques while travelling domestically or abroad. With the ability to lock in the rate on the foreign currency cards, prepaid is the best way for travelers to fix their budget ahead of a trip to Europe or Great Britain. The card offers the important feature of compatibility with the Chip & PIN technology prevalent throughout Europe and other regions. Additional benefits include enhanced security, the convenience of a secondary card drawing on the same funds, and budgetary control.
Over 200 ICBA-member banks are already providing Cash Passport currency cards to their customers, for a total value of $26.5 million in travel funds.
“Traveling customers seek the convenience and security of protected, easily accessible funds,” said Noah Wilcox, president and CEO of Grand Rapids State Bank, Grand Rapids, Minn. “In addition to Chip & PIN compatibility, Cash Passport cards can also be used at any ATM that accepts MasterCard®, allowing customers to withdraw small amounts of cash for tips and incidentals.”
“Access Prepaid Worldwide is pleased to offer Chip & PIN enabled travel cards as an ICBA Preferred Service Provider,” said David Koopman, North America regional director for Access Prepaid. “We look forward to expanding this solution to ICBA member banks so that bank customers can travel freely, unencumbered by foreign currency concerns.”
The Cash Passport prepaid travel card was originally offered through a division of Travelex, which has been affiliated with ICBA for nearly 30 years. It is now provided to ICBA members by Access Prepaid Worldwide, a MasterCard business.
For more information, visit www.icba.org.
About Access Prepaid Worldwide
Access Prepaid Worldwide (“Access”) offers over 14 years of expertise in prepaid card program management, across 20 countries and six continents. It also provides award-winning customer service with 24/7 call-center operations supporting customers in over 12 languages. Access’ flagship product, Cash Passport™, available in 10 different currencies worldwide, has been recognized by PayBefore as the Best International Travel/Remittance Program at the 2012 Paybefore Awards. It is quickly becoming acknowledged as the more practical, secure, and convenient payment method for leisure and business travel versus travellers cheques or cash.