Published on July 16th, 2015 | by William Charles44
All Union Plus 5.10% APY Cards Will Be Closed By September 16th
If you’re a Union Plus cardholder, you should have received the following e-mail outlining a closure for September 16th, 2015. We recently talked about the diminishing options for high interest accounts, when both Union Plus & Mango stopped accepting new applicants.
Dear Valued Cardholder,
Our records indicate you have an open Union Plus Prepaid Visa® Card issued by First Bank & Trust, Brookings, South Dakota.
As such, this letter is to notify you that all Union Plus Prepaid Visa cards will be discontinued, including all services in connection with the Card, effective September 16, 2015. This means your account will be closed on September 16, 2015, or on your Card’s expiration date, whichever comes first. A new provider for this program will be contacting you directly between now and September 16, 2015 with details of the new program that will be available to you.
After September 15, 2015, your Card will no longer be available for use. Any remaining available balance will be refunded to you in accordance with the terms and conditions of your Cardholder Agreement.
THE FOLLOWING DATES APPLY LEADING UP TO THE CLOSING OF YOUR ACCOUNT:
1. August 15, 2015 – Last Day to Reload Your Card
Card loads including recurring deposits will not be available after August 15, 2015. If you receive recurring deposits (such as direct deposits) please make arrangements – as soon as possible – with your bank, payment provider or payroll department to stop those deposits from posting to the Card. Any recurring deposit initiated on or after August 15th , 2015 will be rejected and returned to the originating source.
2. September 15, 2015 – Last Day to Use Card at A Merchant or ATM
Use any remaining balance before September 16, 2015, or your Card’s expiration date, whichever comes first. Remember, your Card may be used everywhere Visa debit cards are accepted. If recurring debit charges are assessed to your account, you should contact the merchant immediately to make other arrangements for payment.
3. By September 30, 2015 – Check Issued for Remaining Funds
The check will be sent to the name and address we currently have on file no later than 30 days of account closure.
Remember, the new provider for this program will be contacting you directly and before September 16, 2015 regarding details of the prepaid card they will make available to you.
Thank you very much for your business. We regret any inconvenience this change may cause.
If you have questions regarding this notice, or any other matter related to your account, please call the number printed on the back of your card.
Union Plus Customer Service
It’ll be interesting to see if this also happens with the Mango card which was run by the same company, or maybe Mango will be taking over Union Plus cardholders as well? This is a big disappointment as it’s been great earning a 5.10% on up to $5,000, I’m interested to see who will take over Union Plus and if they’ll also offer a high interest rate on their account and also what will happen to Mango cardholders as well.
Hat tip to reader Geof M