MyMoneyPlus Card Offers Immigrant ATM Cards & Wire Transfers.

The importance of the growing Hispanic population has brought technology to the fingertips of the immigrant workers in Fresno, California. Recently Los Angeles based MyMoneyPlus unveiled its “money cards” that allow workers with no bank accounts the ability to receive their paychecks directly to those cards. The MyMoneyPlus cards function as normal ATM/Debit cards with the capacity to withdraw cash worldwide and also make retail point-of-sale purchases in the U.S. In addition, through its free linked Secondary Card initiative, MyMoneyPlus allows users to send money to their home countries without having to go through the traditional money transfer services. MyMoneyPlus is designed to provide convenience and safety through an inexpensive platform.

The MyMoneyPlus system is not only a convenience for workers; it can also become a powerful, money-saving tool for employers as well. MyMoneyPlus can make automatic payroll deposits saving employers substantial amounts compared to traditional methods. George Flagler of Flagler Farms, Inc., a company that has over 150 employees says, “Having to deal with issuing paychecks and the headaches that come with all of that is something that I am looking at MyMoneyPlus to help eliminate.”

As a lifestyle and money saving tool for the over 25 million wage earners in the U.S. who do not have bank accounts, MyMoneyPlus can help save them considerable amounts on check cashing fees. Traditionally, non-banked employees stand in line and pay high fees to cash their payroll checks. With MyMoneyPlus there is no service fee to receive the paycheck from a participating employer and there are no lines to wait in. MyMoneyPlus deposits salaries directly to the users’ cards providing the ability to withdraw needed cash immediately at any ATM or POS.

MyMoneyPlus launched its service earlier this year. Since then it has been generating a buzz among potential users, distributors and vendors, as well as the investment community. In the U.S., in money transfers alone, $25 Million from is sent from Los Angeles to Mexico on a daily basis. The staggering amount of yearly U.S. money remittances worldwide amounts to $70 Billion. MyMoneyPlus also expects to tap a portion of the transfer fees by offering its service in a much more economical manner. While larger money transfer services can charge up to ten percent of the remittance amount to the sender, MyMoneyPlus’ basic transfer fee is just four dollars.