IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW CARD ACCOUNT: To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions and their third party program managers or service providers to obtain, verify, and record information that identifies each person who opens a Card Account. What this means for you: When you open a Card Account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.
*No monthly Fee, No Overdrafts, No minimum Balance. An inactivity fee may apply after 12 months.
Your funds will be held at or transferred to Metropolitan Commercial Bank, an FDIC-insured institution. While there, your funds are insured up to $250,000 by the FDIC in the event Metropolitan Commercial Bank fails if specific deposit insurance requirements are met and your card is registered. See fdic.gov/deposit/deposits/prepaid.html for details. FDIC insurance does not protect your funds in the event of MyBambu’s failure or from the risk of theft or fraud.
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