Page 26 - Pay Magazine s2014

paybefore awards
consumer chamPion
The card or program that delivers the best consumer value proposition for features, functionality, service and price. This category is judged based on CFSI’s Compass Principles—embrace inclusion, build trust, promote success and create opportunity. CFSI CEO Jennifer Tescher served as a guest judge for this category.
American Express Serve
American Express
what it is: The redesigned Serve product offers robust features and benefits that address consumer needs, including immediate access to funds, while offering the lowest fee struc- ture in the industry.
where you get it: Online or at more than 33,000 retail stores, including CVS/pharmacy, Walmart and Walgreens.
why it works: Serve has a simple fee struc- ture—$1 a month—and sought-after features, such as P2P transfers, subaccounts, mobile check deposit, mobile offers, a reserve fund for larger purchases and free cash reloads. The card is free to acquire online (up to $3.95 at retail) and the $1 monthly fee is waived with direct deposit or loads up to $500. Out-of- network ATM transactions are $2.50 and foreign transactions have a 2.7 percent fee.
why it matters: Serve expands access to financial services, while giving cardholders benefits usually associated with American Express’ credit products, including Roadside Assistance, Purchase Protection, Global Assist and Membership Experiences.
differentiators: Serve offers the largest free cash reload network of 27,500 retail loca- tions. American Express launched an omni- channel media campaign that drove broad awareness of the category and supported production of a documentary to raise aware- ness about the inconvenience and high fees consumers face living in the cash economy.
what the judges said: When it comes
to expanding access to financial services, American Express is “all in.”
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Winners GoBank Debit MasterCard Green Dot Bank, MasterCard
H&R Block Emerald Prepaid MasterCard
H&R Block