Ultimate Debit Card

The Ultimate Debit Card is a prepaid, re-loadable debit card offered by the Toronto based company Netco Teller.

Netco Teller offers its Ultimate Debit card to a variety of different markets in Canada.

• Individual consumers
• Employers
• Merchants
• Insurance companies
• Federal, provincial and local governments
• Internet merchants worldwide

Consumers may obtain this debit card either on their own, by linking it to a personal bank account, or through their employer.

• Your pay is "deposited" to your debit card instead of your personal bank account.
• You may link a personal bank account to your debit card if you choose to do so.
• Use this debit card anywhere you see an Interac, Cirrus or Maestro logo.

• Transfer funds to and from your bank accounts (if they are linked to your card), from one debit card to another and from a credit card to your debit card.
• Netco has funds available in multiple currencies, making this card perfect if you plan on traveling abroad. Remember though, you are still subject to currency exchange rates.
• Convenient online bill pay is available.
• Deposits can be easily made through ACH, EFT and wire transfers.
• Withdrawals can be made from any ATM machine, anywhere in the world, that bears the Interac, Cirrus or Maestro logos.
• 24-hour customer support
• Make purchases just as you would with a credit card or bank issued debit card.
• Easy online account management

• Payroll is deposited to individual employee debit cards as opposed to issuing paper checks.
• Payment of the related fees is at your discretion. Employers may decide to either have the company pay the load fees or pass those costs on to card holding employees.
• Netco offers businesses the ability to have their corporate logo printed on its debit cards.
• Online account management

Issuing this prepaid debit card to your employees reduces labor costs in the following ways:

• No check printing and processing fees
• It eliminates fees for lost or stolen checks
• No fees for stop payments on checks

As a merchant, accepting the Ultimate debit card offers many advantages.

• Earn more revenue
• Increase sales
• The ability to more accurately track cash inflows
• Decrease revenue losses that occur due to dishonored checks
• Decrease losses due to the following employee actions:
  • Cash theft
  • Giving the wrong change
  • Losing money
  • General mismanagement of funds

Insurance companies can streamline payments by utilizing this debit card.

• Insurance agents have the ability to load cards from their computers while out in the field
• Field agents can pay claims on the spot.
• The option of issuing a debit card that can be loaded multiple times or for a single instance
• Client's benefit by getting claims funds more quickly
• Reduces check printing and processing fees
• Insurance companies can have their company logo printed on their debit cards as an effective marketing tool.

Governments can use this debit card for a variety of purposes.

• Tax refunds
• Pay unemployment benefits
• Pay pension and/or retirement benefits
• Automated card loading feature

Overall, this debit card offers many of the same benefits as the hundreds of other prepaid re-loadable debit cards offered industry wide. It also has the same common drawbacks for its cardholders and issuers.

• Load fees
• Withdrawal fees
• Annual Fees
• Card issue fees
• Withdrawal limits
• Fraudulent activity liability – Cardholders are responsible for all fraudulent activity connected that occurs before the card is reported lost, missing or stolen. Most bank issued debit cards have zero fraud liability or a cap on the amount of consumer responsibility of around $50.

Due to the fact that these fees are common amongst just about every prepaid, re-loadable debit cards available, and vary by card issuer, it is a good idea to shop around and compare fees before deciding on a card that suits your needs.

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