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Chase said today that its "Chase Liquid" card will allow consumers to access conveniences like bank branches, automatic teller machines and bill-payment services without signing up for a full-service bank account.
At a recent investor presentation, Chase said the Liquid card would cost a typical customer about $59 per year, compared with $150 to $250 for competing cards (the presentation didn't identify the competitors by name).
The Chase Liquid card has been in development for well over year, according to JP Morgan Chase spokesman Patrick Linehan.
With a price tag of less than $5 per month, the new Chase Liquid card is one of the more competitively priced cards on the market.
PNC SmartAccess Prepaid Visa Card: Similar to the Chase Liquid Card, this card is a good fit for those who live in one of PNC's markets.
With realistic usage, fixed and variables costs for a Liquid card could easily add up to $15 in one month for one customer.
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The warning only affects the bank's UCard users, not holders of debit cards, credit cards or pre-paid Liquid cards.
Branded as "Liquid," the card carries a $4.95 monthly maintenance fee but does not charge customers to add money.
The Chase Liquid prepaid card is the bank's newest offering targeted at poor consumers as an alternative to a checking account.
Earlier this month, JP Morgan Chase also announced the national launch of the Chase Liquid prepaid card this summer as a way to provide a cheaper alternative to its checking accounts.
The company offers laptops, personal computers (PCs), broadband products, graphics cards, three-dimension graphics display cards, liquid crystal display monitors, mobile telephones, pocket PCs, server motherboards, server systems, and computer accessories and peripherals.
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