Transcript Access Account - BILL PAYING SOLUTIONS (BPS)

The Access Account
Access Account
What is it?
SECURE
SECURE
SECURE
FUNCTIONAL
PRACTICAL
PRACTICAL
PRACTICAL
VISA Prepaid debit
PRACTICAL
Cash withdrawal
VISA reputation
Cards
processed
by
Cardholder
must
GTP
(only
VISA
Regulations
use a PIN (Personal
certified/authorize
compliance
(OFAC,
Identification
processor
outside
KYC,
EDD)
Number) known
the
only
byUSA)
him/her
Purchases
via
card
accepted
Can
be
used
for
through
ATM
Card
to
Card
worldwide
POS
worldwide
purchases
through
worldwide
network
transfer
of 24
funds
network
hours
the
INTERNET
24 every
hoursday
each day
Worldwide
PHYSICAL
eCHECK
eCHECK
CHECK
INNOVATIVE
INNOVATIVE
Payable in US$
CanAvailable
be requested
all
through a UStobank
from
any
PC
at
account
once itholders
is
home
or
at the it
who
request
authorized
office worldwide
7/7/2015
Allows
user access
A Prepaid
VISA
Card PLUS
to USA Banking
Electronic and
System
Physical
Check
Confidential
2
The Access Account
Complementary Features

Real time crediting and debiting of deposits and purchases to
mitigate risk

On line complete transaction history and a detailed activity report

Access to financial networks: STAR, Pulse, Cirrus, Maestro

Loaded using online & over-the-counter banking (local bank
branches), selected POS, wire transfer

The ability to direct deposit cardholder’s funds to their account

Telephone access capabilities (IVR)
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Confidential
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The Access Account
Bank is in control
One-stop management for



Enrollment
Registration and activation of cardholders
Activation, loading and reloading
Customer satisfaction



Customers can load funds at Bank’s branches
Bank act as local customer service center
Retains customer loyalty
Cost reductions



7/7/2015
Easy on-line changes to customer’s profile
Single infrastructure to manage & control
Free any-time reports on-line
Confidential
4
The Access Account
Requirements

Cardholder must fill out an application with personal data
•
•
•
•

Name and birthday
Second name – for security purposes
Valid Photo ID (passport, license, etc.)
Address
Customer/Bank must send application to Processor
•
•
By Fax or Email
Including copy of the photo ID
Through a controlled website and with a private password, it is possible
to enter consumer information to activate, load, and reload the Cards
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Confidential
5
The Access Account
Comparison Analysis
Payable
Through
Access
Account
Access to
US Banking
Payment of
Bills
Access to
US Banking
Payment of
Bills
Check Book
Available
Transactions
Limited No.
via
of Branches
Teller only
plus
eCheck
Physical
capability
Checks
Worldwide
Cash
Every($$)
day
ATM
Purchases
&withdrawals
Worldwide
POS access
Demands
Minimum Bal.
Cost
of US$38
Or minimum
per
month
Balance
NO minimum
Balance req’d
US$15/month
maintenance
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Confidential
6
The Access Account
Price Comparison
PAYABLE THROUGH
Costs
Monthly Maintenance
ACCESS ACCOUNT
US$
Costs
US$
38.00
Monthly Maintenance
15.00
Checks & Checkbooks
Checkbook (25 checks)
Cost per transaction
Checks & Checkbooks
19.00
1.19
Checkbook (25 checks)
7.50
Cost per transaction
0.85
NSF Check
32.00
NSF Check
32.00
Stop Payment
15.00
Stop Payment
15.00
MRB (Minimum Required
Balance)
350,000.00
Minimum monthly charge
6,000.00
Access to System (monthly)
7/7/2015
300.00
MRB (Minimum Required Balance)
Cost per account-one time
(includes use of debit card/checks).
Reduced to $25.00/account in 2nd
year
Access to System-24/7/365
Confidential
500,000.00
75.00
No Charge
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The Access Account
Planning
Add new features to the Access
Account based on customers’
requests and experience
Increase functionality of eChecks
and physical checks to meet
customers’ growing demands
Launching of our first version of the
Access Account, including echeck
and physical check capability
7/7/2015
Confidential
8
Writing Checks with the
Access Account
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Confidential
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The Access Account
Writing an eCheck
Step One: How to write a check (eCheck)



Cardholder logon to the processor web site
Cardholder selects “Write Check” from menu
An interactive echeck appears with how-to-fill instructions
Step Two: fill information



Cardholder completes eCheck, including mailing address for payee and
delivery instructions (standard or overnight)
The website checks cardholder’s balance to cover eCheck + fees
If there is not enough funds in cardholder’s account, cardholder is
advised and encouraged to load funds and reinitiate transaction
Step Two: issuing/mailing the check
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

7/7/2015
If enough funds, cardholder is advised that eCheck is being issued
Website initiates a C2C transfer from cardholder’s account to a processor’s
account set up for this purpose
Processor produce and mail the check. Checks are written against a
processor’s bank account, established for this purpose
Confidential
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The Access Account
Information on Check
Name of Payor
Issuing Company/Person
will change
Bank will change
Header 1 (may be another Bank name)
Header 2 (“AS PAYABLE THROUGH”)
Bank Name
Bank Address Line 1
Bank City, State, Zip
Global Client Solutions, LLC
DISBURSEMENT ACCOUNT
3500NW 85th Ave
Miami, FL 12345-678
Header Line 1
Header Line 2
AMERICAN BANK AND TRUST
Unique Identifier
for Check.
Payment of Draft ID
Check Number
ONE WARREN DRIVE
TULSA, OK 80906
Check
Amount
DRC Client ID
Memo Line 1
Memo Line 2
Memo Line 3
Name of Payee
Address Line 1
Address Line 2
City, State, Zip Code
Check No. in
MICR code
Routing
Number MICR
Bank Account
Check
Amount
 Red Text is generated by processor for each run
7/7/2015
 Green Text is generated by processor for each check
Confidential
 Blue Text is created by check printing
software from passed in information
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The Access Account
Envelope for eCheck
The check will be placed in two window envelopes, as indicated below
Window for
“FROM” Address
Issuing Company or Person
will decide which name to
use here
Global Client Solutions, LLC
3500NW 85th Ave
Miami, FL 12345-678
Name of Payee
Address Line 1
Address Line 2
City, State, Zip Code
Window for “TO”
Address
GE Financial Services
PO Box 12345
Atlanta, GA 12345-5678
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Confidential
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The Access Account
Writing a Physical Check
How to write a physical check



Customer writes a check from his/her checkbook
Customer sends check to beneficiary
Customer must register the check on the bank’s web site
Compensation Process



Beneficiary receives check and proceeds to use it
Check goes to payee bank American Bank & Trust (ABT)
Payee bank American Bank & Trust (ABT) process the document
Final Process

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7/7/2015
ABT proceeds to pay the check inmediately if a) there is sufficient funds
available and b) the check has been registered in the bank’s web site
If the check has not been registered, ABT needs to send an electronic
image of the check to the bank requesting authorization to pay
All reports are upadted for both bank and customer to review
Confidential
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The Access Account
Pre-Paid Debit Card
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Confidential
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The Access Account
General Flow
CLIENT
Fills application and
delivers with copy of
required documents
(passport or other)
Receives/Activates
card. Can verify his
activities through
Internet or IVR
Cardholder withdraws
vía ATM, purchase via
PoS/Internet and write
echeck or pchecks
BANK
Verifies information,
sends to processor.
Opens settlement
account w/processor
Establish withdraw
limits for its clients
•POS * ATM
•Checks
•Transfers
GTP VISA
(PROCESSOR)
Receives information
creates and register
cards/accounts in its
System
Sends cards to Bank or
directly to card
holders
Credits funds to settlement
account; from this account
transfer funds to subaccounts as required by
bank
Sub-Account
7/7/2015
Confidential
Transactions are verified
approved and register by
issuing bank/processor.
Reports are updated
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The Access Account
Example of Settlement
Bank assigns
$1,000 to
each client
Settlement
Account with
Processor
Transfer $4,000
Client
$1,000
Client
$1,000
Client
$1,000
Client
$1,000
Issuing Bank
 No minimum balance. No “o/n”
 Funds must be available in each client’s account
before use
 Easy to manage (on line)
 Instantaneous funds transfer
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Confidential
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Global Technology
Partners
Global Technology Partners

Global Technology Partners (GTP) is owned and operated by
founders of FSV Payment Systems, a leading stored value
processor in the United States

GTP is a VISA certified processor focused on providing
stored value prepaid debit card services throughout Latin
America

GTP operates a secure, real-time, regulatory compliant
processing platform located in Panama that utilizes state-ofthe-art technology
7/7/2015
Confidential
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GTP Network Diagram
7/7/2015
Confidential
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The Access Account
Contact Information
Lincoln I. Smith
Carlos R. Pareja
email:
email:
[email protected]
[email protected]
Cel. 305 776 0566
Cel. 305 632 2241