American Express announced today that the American Express Prepaid Card, a prepaid reloadable Card with no monthly or maintenance fees, will soon be available in retail at select Office Depot stores. The Card will roll out in more than 1,100 stores across the United States in the coming weeks(1) and provide Office Depot customers with a smarter spending and budgeting tool that can be used anywhere that American Express® Cards are accepted.
"We are excited to partner with Office Depot to provide consumers with a Prepaid Card that is simple to use, safer than cash and backed by the benefits and service of American Express," said Alpesh Chokshi, President, Global Payment Options, American Express. "This Prepaid Card is a smart solution for small businesses or families looking to manage their day-to-day finances and we look forward to working with Office Depot to provide a new payment option for their customers."
"Office Depot is pleased to offer a prepaid reloadable card for the first time to our customers," said Farla Efros, Executive Vice President and Chief Merchandising Officer, Office Depot. "Reloadable prepaid cards are quickly gaining traction for many different uses. We are excited to offer the American Express Prepaid Card which delivers premium value with no hidden fees, enables our customers to use the card immediately upon purchase and is backed with the safety and security that is synonymous with American Express."
The temporary one-time load Card(2) is available for purchase for $4.95 in more than 1,100 Office Depot stores nationwide or free online at americanexpress.com/prepaid. The temporary Card can be funded with multiple loading options at the register with any dollar amount from $25 to $500.
Customers can order their permanent Card with full benefits online at the Card's website with no fees for monthly maintenance, activation, balance inquiries, alerts, Card replacement, foreign currency conversion or loading via bank account or direct deposit. Once Cardmembers receive their permanent Card, funds can be loaded online through a bank account, such as savings or checking account, direct deposit, and through cash loading(3) via MoneyPak or the Vanilla Reload Network by InComm, a new loading option for the Card. The permanent card comes with ATM access and there is no fee from American Express for the first monthly ATM cash withdrawal, after which a $2.00 fee applies per withdrawal (bank network charges may also apply to any ATM cash withdrawal). Permanent Cardmembers also have the ability to create, manage and specify additional user cards for others such as family members, colleagues, babysitters and contractors.
The temporary card can be used anywhere in the United States that American Express is accepted and the permanent card can be used internationally. The funds on the temporary and permanent card do not expire, and if lost or stolen, the funds can be replaced.
New Features for the American Express Prepaid Card
In conjunction with today's announcement, American Express is also rolling out new features on the permanent American Express Prepaid Card. Available today, these include:
- Direct deposit: American Express Prepaid Cardmembers can now load their Card, up to $5,000 monthly, from their paycheck using direct deposit. This feature allows Cardmembers the ability to set up recurring loading directly from their employer.
- Increased Limits on ATM Cash Access: The ability to access cash is an important feature for consumers with general purpose reloadable cards. In response to consumer demand, American Express Prepaid Cardmembers can now withdraw up to $400 per day from ATMs.
- Additional Cash Loading Options: Cardmembers can now load their Cards via cash using the Vanilla Reload Network by InComm at Office Depot locations or other participating locations nationwide, giving American Express Prepaid Cardmembers the convenience and ease of more reload options.
Benefits and Protections
Permanent Cardmembers are also entitled to valuable protections and benefits (subject to terms and conditions), including:
- Purchase Protection(4) which can protect against accidental damage or theft of eligible items for 90 days from date of purchase, up to $1,000 per occurrence and up to $50,000 per Cardmember account per calendar year.
- Roadside Assistance which provides dispatch services including towing, battery recharge, gas delivery, locksmith service and changing a flat tire.
- Global Assist ® Services provide trip planning assistance as well as emergency assistance when the Cardmember is traveling more than 100 miles from home.
- Entertainment Access provides Cardmembers access to special savings, exclusive events and advance tickets to some of the hottest events in music, sports and theater.
- Exceptional 24-7 customer service that Cardmembers have come to expect from American Express.
Online management tools provide controls and full transparency for how the Card is being used. Permanent Cardmembers can:
- View real-time transaction history and monitor spending.
- Receive email or text alerts for low funds or notifications when a transaction has occurred. (Check with your mobile service provider for fees that may apply to text messages.)
- Disable/enable ATM access for the Card.
- Inquire about Card balance 24 hours a day/7 days a week.
- Schedule reloading of funds automatically.
For more information, visit americanexpress.com/prepaid.
About American Express
American Express is a global services company, providing customers with access to products, insights and experiences that enrich lives and build business success. Learn more at americanexpress.com and connect with us on facebook.com/americanexpress, foursquare.com/americanexpress, linkedin.com/companies/american-express, twitter.com/americanexpress, and youtube.com/americanexpress.
About Office Depot
Office Depot, dedicated to helping customers save time and money, provides office supplies and services through 1,677 worldwide retail stores, a dedicated sales force, top-rated catalogs and global e-commerce operations. Office Depot has annual sales of approximately $11.5 billion, and employs about 39,000 associates in 60 countries around the world.
Office Depot's common stock is listed on the New York Stock Exchange under the symbol ODP. Additional press information can be found at: http://mediarelations.officedepot.com and http://socialpress.officedepot.com/.
(2) Temporary Card can be used at U.S. locations where American Express is accepted. Temporary Card is not personalized and cannot be used at ATMs.
(3) Retail Fees apply for cash loading.
(4) Purchase Protection is underwritten by AMEX Assurance Company, Administrative Office, Phoenix, AZ. Coverage is determined by the terms, conditions, and exclusions of Policy AX0951 or Policy PP-IND and is subject to change with notice. This document does not supplement or replace the Policy.