American Express partners with Office Depot to launch prepaid card

Budgeting and spending tool

Over the coming weeks American Express will be rolling out its new reloadable prepaid card in around 1,100 Office Depot stores across the US (view press release). The card will have no monthly or maintenance fees and will serve customers as a budgeting and spending tool that can be used wherever American Express cards are accepted. Having ordered the card online, funds can be loaded via a savings/checking account, direct deposit or cash loading. The card is compatible with ATMs – there is no charge for withdrawals during the first month and a $2 fee per withdrawal thereafter.

Alpesh Chokshi, president of global payment options at American Express, says the new prepaid card “is a smart solution for small businesses or families looking to manage their day-to-day finances.”

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