Baylake Bank Expands Product Offering &
Announces Launch of Prepaid Card Programs
Baylake Bank announced the launch of a reloadable prepaid card
program created as a full-service alternative to traditional
checking. Ideal for students, travelers, and those looking for
more security when shopping online, the prepaid program also
provides low-cost, feature-rich access for those who have not
had a traditional checking account.
“Baylake Bank leads the way in developing innovative products
which open doors to banking for those who may otherwise not have
a way to manage their finances,” said Matt Lemke, Director of
Retail for Baylake Bank. “Our new prepaid card puts customers in
control of their funds and, for many, is the first step to
establishing a relationship with the bank.”
Because the account is designed around a pre-paid MasterCard®
card, it is accepted at millions of retailers and can be used to
establish recurring automatic payments as well as access cash at
ATMs. Travelers and online users will appreciate the security
the account provides by keeping funds on the card separate from
other primary accounts. Students and young adults can take
advantage of online account management tools and the ability to
reload the card regardless of location.
“With the increase of online account fraud and identity theft,
the prepaid card offers a safe, convenient alternative way to
travel, and shop without gaining access to your checking or
savings,” Lemke said. “For students, the card is a way to learn
how to manage their finances and establish independence.”
In addition, with a Payroll MasterCard® card, employers will
have a solution that makes payroll simple, safe and efficient.
It enables employers to streamline the payroll process and helps
improve the bottom line by reducing processing and check fees.
It also provides an electronic payment option for employees who
may not otherwise have a checking account. Combined with Baylake
Bank’s suite of business products such as payroll origination
and other cash management solutions, clients now have an even
better business banking package.
The Baylake Bank prepaid access card programs are offered
through The Community Bank Prepaid Program launched in 2010 by
ABA Business Solutions, a subsidiary of the American Bankers
Association, with partners MasterCard Worldwide and TransCard, a
prepaid processor and program manager.
For more information about the prepaid access card programs
available at Baylake Bank, contact Cash Management or a
Financial Center near you at (800) 267-3610.
MasterCard and Mastercard Brand Mark are registered trademarks
of MasterCard International Incorporated. Baylake Bank, Member