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AccountNow Raises the Bar on Innovative Services for the Unbanked.

iAdvance(SM) Line of Credit and Online Financial Resource Center Top New Offerings

SAN RAMON, Calif. -- AccountNow (www.accountnow.net) once again reduces financial barriers facing the estimated 40 million Americans who don't have bank accounts. The financial services company that offers an alternative to traditional banking announces more innovations: the addition of the iAdvance(SM) Line of Credit from MetaBank, the elimination of upfront fees for new accounts with direct deposit, and the debut of Money 411SM: its ground-breaking online financial resource center.

The company's goal to be the primary financial relationship for the unbanked has driven its latest round of robust product offerings, which include:

* Money 411 - Resources for the Unbanked: Introducing the first comprehensive information network designed specifically for those who do not use, or have been unable to get, a traditional bank account. AccountNow's Money 411 is a unique financial resource center, providing articles, tips and advice to help these consumers maneuver the financial roadblocks they face on a day to day basis;

* New Short-Term Loan Product: AccountNow is offering iAdvance, available with the AccountNow Vantage Prepaid MasterCard from MetaBank, to answer a clear customer need for access to affordable short-term credit to pay for life's unexpected expenses. iAdvance provides a line of credit that can be accessed 24/7 via a customer's prepaid card. Available to cardholders with direct deposit, iAdvance is a more convenient and less costly alternative to other options, with no rollovers, no multiple outstanding loans and lower fees than other high-cost, nonbank credit alternatives;

* No Upfront Fees for New Accounts: With the elimination of upfront fees for new customers who use direct deposit, AccountNow has removed another obstacle to the greater convenience of a prepaid card account versus traditional check cashiers.

"Our mission is to provide people who don't have bank accounts with the tools and services they need, but can't get, to improve their financial lives," said Tim Coltrell, Chief Executive Officer of AccountNow. "With our latest suite of innovative new services we're demonstrating that we are responsive to the needs of our customers and are committed to stepping outside of the status quo to solve some of their biggest pain points for managing their money."

About AccountNow

A market innovator since 2004, AccountNow (www.accountnow.net) is the financial services company for the estimated 40 million US consumers who do not have a bank account. The company offers an alternative to traditional banking, offering prepaid accounts with Visa/MasterCard cards accepted everywhere, direct deposit, online bill pay, online account access, short term loans, the Money 411 resource center and money transfers. It was the first financial services company to offer a credit builder feature based on bill pay history linked to a national credit reporting agency, PRBC. AccountNow, and its customer service call center, is based in San Ramon, CA (SF/Bay Area).

About iAdvance Line of Credit

iAdvance(SM) Line of Credit from MetaBank is designed to assist consumers with short-term cash needs. It is available to those cardholders possessing certain general use and payroll prepaid cards issued by MetaBank, a federally chartered savings association located in Sioux Falls, S.D. iAdvance is a registered service mark of Meta Payment Systems, a division of MetaBank. Patents pending. All rights reserved. Visit www.MyiAdvance.com for more information or contact Trent Sorbe at 605.361.4347.

About Palm Desert National Bank

Palm Desert National Bank is a wholly owned subsidiary of Palm Desert Investments. An active corporate citizen in its community, PDNB has been serving the Coachella Valley for over 25 years, with branch offices in La Quinta, Palm Desert, Palm Springs and Rancho Mirage. PDNB is a nationally chartered and FDIC-insured financial institution with assets exceeding $400 million, and is home to Electronic Banking Solutions, an acknowledged industry leader that provides a variety of electronic banking solutions including vault cash, and cash management to off premise ATMs and self service kiosks, merchant point of sale sponsorship, and stored value prepaid card programs throughout the nation. For more information, log on to http://www.pdnb.com.
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Publication:Business Wire
Date:Mar 19, 2008
Words:677
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