The Payment Card Industry (PCI) Council announced they will release new standards for securing card payments in October. Banks and merchants will have a 14 month grace period to prove they are in compliance with the new standards. For more information, please review the next edition of the Quarterly Treasury Management Product Bulletin coming in July.
Space Coast Credit Union of Florida is currently promoting a sweepstakes where customers can enter to win a $1,500 mortgage payment. Anyone is eligible to enter, even non-SCCU members, and non-mortgage holders! Should the winner not have a mortgage, they can claim their prize in cash. Entries must be submitted online through 06.30.2010. The winner will be announced on 07.14.2010. Click here for more information.
Bethpage FCU is offering an introductory rate of 2.49% APR for the first nine months on a home equity line of credit. The rate will adjust to 3.99% variable APR after the promotional period. The rate requires automatic payment from a Bethpage checking account. Click here for more information.
US Bank has partnered with CashEdge, a provider of Intelligent Money Movement services, to launch CashEdge's Popmoney, a P2P online and mobile payments service. US Bank will offer Popmoney to its mobile banking customers through its website and the downloadable mobile banking application, the US Bank Mobile Wallet. Click here for more information.
Valley National Bank has partnered with Bling Nation, a provider of mobile payments services, to launch BlingTag. Customers with a Valley National Bank checking account can sign up for a BlingTag, a quarter-sized microchip sticker that attaches to the back of a mobile phone to enable debit transactions. Click here for more information.
M&T has eliminated its Totally Free Checking account. In its place, M&T introduced the MyChoice Checking, which has a $6.95 monthly fee that can be waived with an average balance of $500 or at least ten debit card transactions per statement cycle. Click here for more information.