UniRush LLC announced its prepaid RushCard has added a card-to-card funds transfer feature for users who want to transfer money between prepaid Visa RushCards.
Holders can execute the transfers at the company's Web site, by telephone with a customer service agent or by using a mobile phone, UniRush said. Recurring funds transfers can be scheduled months in advance. RushCard is the only prepaid debit card that allows holders to schedule transfers to be executed in the future.
A RushCard holder can transfer funds between their own RushCard for free or can transfer funds to another holder's card at a flat rate, which UniRush did not disclose. It said transfer fees with other services can be eight to 10 times higher to move the same amount of money. UniRush announced the feature on Tuesday.
"By giving our members the ability to move funds via a mobile phone and to schedule their money transfers in advance, RushCard has changed the game for funds transfers," said Russell Simmons, the music entrepreneur who launched RushCard to serve people without a traditional banking relationship, in a press release. "No one should be forced to pay higher fees to transfer much-needed money to a loved one or to save. Now, RushCard gives them a very convenient, much more affordable way to make these important transactions."