Baylake Bank eNews. Member FDIC

Baylake Bank Expands Product Offering &
Announces Launch of Prepaid Card Programs

Payroll cardBaylake 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 FDIC.



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