MyState Bank to issue Visa Debit Cards to vulnerable customers to help access their money during COVID-19
First published on May 1, 2020
MyState Bank is providing Visa debit cards to transaction account customers who would normally go into bank branches to withdraw cash. The Visa debit cards will allow customers to continue to have easy access to their money during the COVID-19 pandemic.
With social distancing making it increasingly difficult for many people to access branches and retailers transitioning to non-cash payments with many not allowing cash payments at all, MyState Bank’s priority is to ensure all customers are able to access their money to buy goods and services when they need to.
MyState’s Managing Director and CEO Melos Sulicich says vulnerable customers without cards are at risk due to social distancing as they rely on cash to make their transactions in an increasingly cashless world. Importantly, the cards are being provided to customers at no cost.
Mr Sulicich says debit cards are a safe way for customers to pay for goods and services and far safer than carrying large sums of cash.
“Even if customers have never needed a debit card, it is becoming necessary as more and more retailers and service providers are avoiding accepting cash in a bid to remove the risk of COVID-19 transmission by bank notes or coins.
“A MyState Bank Visa debit card means you can pay in shops that are not allowing cash payments, as well as for items such as groceries and services online or over the phone and get them delivered. Customers can also pay electricity and other bills from the comfort and safety of their own home keeping away from public places so with less risk of contracting COVID-19.
“Importantly, it’s the customer’s own money. It is not a credit card and does not attract interest charges. The debit card has a unique number that allows customers to spend their money from their own bank accounts, safely and securely.
“MyState Bank has security measures in place to help protect against fraud and only the customer can activate the card.”
Mr Sulicich said if a customer decides if at any time they don’t need the card, it can be cancelled safely and securely, at no cost.
“Electronic and online banking has increased dramatically due to the coronavirus emergency. Already, our Visa debit transactions have increased by eight percent, BPAY is up by 20 percent and PayPal transactions up by 40 percent.
“Providing MyState Visa debit card to those currently without a card will ensure that all our customers can continue to have easy access to their money in these challenging times.”