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Central National Bank in Enid, Oklahoma has begun issuing prepaid cards designed to help immigrants to the United States from Brazil send funds to their home country, the bank announced this week. Central National is working with a start-up based in Pompano Beach, Fla., called Tal Cash LLC, which is owned by Gestão Tecnologia and Bancpo Rendimento, two Brazilian companies, to market to the U.S. immigrants. The bank offers cards to U.S. immigrants in stores in predominately Brazilian neighborhoods on the East Coast of the United States, Tania Warnock, a spokesperson for Central National, tells CardLine. Central National already has a deal with Bancomer, a Mexican bank, to provide funds-transfer services to 12,000 locations throughout Latin America, including Brazil. With the creation of the Tal Card, the bank can focus on the Brazilian-immigrant market, and it will expand its network once it adds Banco Rendimento, a Brazilian bank, within the next couple of weeks, Warnock says. Banco Rendimento has 500 cash pick-up locations but plans to have funds recipients deposit money directly into bank accounts, Manoel Silveira, Tal Cash general manager, tells CardLine. Tal also has an agreement with BR Courier, a Brazilian moving company with offices throughout the United States that helps U.S. immigrants send goods home to Brazil, to sell the through BR's roughly 200 agents, Silveira says. Consumers buy the card for $19.95 at a store and get an instant-issue card for immediate use, and Central National sends the consumer a personalized MasterCard later, Warnock says. The U.S.-based consumers can then send funds to recipients in Brazil using a Web site or telephone system, Warnock says. Recipients can pick up the funds at one of the 12,000 participating bank branches or stores in Latin America, Warnock says. The sender also provides the recipient a tracking number and confirmation number, Warnock says. The recipient does not pay to receive the money, Warnock says.
