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Urban Trust Bank, one of the nation's largest black-owned banks, will issue network-branded prepaid payroll cards as part of a deal the bank announced this week with First Data Corp. First Data, which is based in Greenwood Village, Colo., will process transactions for the Money Network card, which Urban Trust Bank can brand either as a MasterCard or Visa card, Glen Turpin, a First Data spokesperson, tells CardLine sister publication ATM&Debit News. Banks market payroll cards to businesses. Companies load employees' payroll funds into the card accounts as an alternative to using direct deposit into checking accounts or to printing and issuing more-expensive paychecks. The issuer, however, gives each employee who has funds loaded into a payroll card account a book of checks to comply with laws some states that require payroll cards to come with checks also for account access. Cardholders can withdraw cash surcharge free from ATMs in the Allpoint network, which has 37,000 machines in the United States and the United Kingdom. Bob Johnson, founder of Black Entertainment Television, founded Urban Trust Bank, which is based in Orlando.
