For all the controversy Russell Simmons has created with his prepaid debit cards, the company behind the products continues to add features that mimic traditional checking and savings accounts.
UniRush LLC has added a tool called RushGoals to help cardholders better track spending and set funds aside in their accounts to reach savings objectives, the company announced Dec. 20.
Cardholders can create multiple sub-accounts within their primary account to save for whatever short- or long-term goals they have in mind, the company said in a press release.
UniRush also announced its new rebate program applies to RushGoals accounts. The company provides a $2 monthly rebate to users who maintain an average balance of at least $500 across all of a customer’s accounts, including RushGoals (
“[RushGoals] is just one of the ways RushCard continues to look beyond traditional prepaid card programs to create more tools to improve the overall financial well-being of our members,” Russell Simmons, UniRush founder and an entertainment mogul, said in a press release.
UniRush executives were not immediately available to provide additional comment.
The company said recently it plans to introduce additional products such as loans for underbanked consumers and a system for providing faster access to directly deposited funds.
As UniRush continues to add features to its products, Simmons continues to fight off criticism that he is taking advantage of financially underserved consumers (
Simmons routinely defends himself from critics through the Huffington Post. UniRush also has a section on its website it hopes will clarify fact from fiction regarding its products (
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