POSTED: Thursday, October 10, 2013 - 8:46am
UPDATED: Monday, November 18, 2013 - 10:13am
Drugstore chain Walgreens announced plans to launch a prepaid debit card. It will serve as an alternative to cash, but also offer a range of financial services.
They include check cashing, online bill payments and direct deposit of paychecks. Its called the Balance Financial Prepaid Mastercard. Like most prepaid cards, there are some fees involved.
Walgreens says it will begin rolling out the card and other financial services at its Walgreens and Duane Reade locations before the end of the year. Prepaid cards have become a popular financial tool among those who either don't have a bank account or need additional banking options.
Walgreens' drugstore locations may also be easier for some customers to access than bank branches.