AUSTIN, Texas, March 24, 2011 (GLOBE NEWSWIRE) -- NetSpend Holdings, Inc. (Nasdaq:NTSP), a company whose mission is to empower the estimated 60 million underbanked consumers in the United States with the convenience, security and freedom to be self-banked, today announced a new marketing agreement with Accu-Auto, a leading software-based comparison rater developed and owned by Norcross, Georgia-based Assurance Systems, Inc. The new agreement will give more than 2,000 specialty auto insurance agents in the Southeast United States the opportunity to offer a NetSpend prepaid debit card to current and potential policyholders as a convenient and cost-effective way to pay monthly premiums.
Accu-Auto will fully integrate an ordering mechanism for NetSpend prepaid debit cards into their software, giving independent insurance agents the option to simply check a box and order a card for their customers. After the applicant clears the federally-mandated identity verification process, a fully functional, personalized card will be delivered in five to 10 business days giving him or her access to more than 100,000 reload locations and a full suite of product features including free direct deposit, free online money transfers between cardholders, complimentary AD&D insurance coverage and a savings account that currently offers 5.00% APY— one of the highest rates in the industry.
In addition to industry-leading product features, NetSpend also helps save cardholders time and money. The card eliminates the need to drive to multiple service providers to pay bills in person. Through NetSpend.com, cardholders have the ability to pay their auto insurance premiums—and other bills—in the comfort and security of their own home. The NetSpend card also helps to avoid fees for money orders or wire transfers and, where available, can also lead to discounts from insurance companies for paying electronically. For agents selling specialty auto insurance policies, NetSpend prepaid debit cards can help increase their premium income through higher customer retention.