"We awarded JPMorgan Chase our electronic payment card program due to the company's extensive experience and success in similar programs in several states," said Adelita S. Orefice, Director of the Rhode Island Department of Labor and Training.
"The Rhode Island Department of Labor and Training will make it easier for unemployment recipients to get their benefits, while reducing costs," said Tim Noble, vice president and relationship banker for the state of Rhode Island. "Debit cards are superior to checks because they provide benefits faster and are more convenient than checks."
Unemployment benefit recipients will get their payments as fast as 24 hours after they certify and are approved by the Rhode Island Department of Labor and Training. The cards can then be used to purchase items at any merchant that accepts Visa. Recipients can get cash at any ATM and transactions will be surcharge-free at any Washington Trust, Allpoint and Chase ATM nationwide.
Debit cards also benefit recipients who may not have a bank account and would otherwise have to pay check-cashing fees. The cards are safer, as recipients can leave their funds in a secure environment instead of carrying cash around and the funds are FDIC insured and fully covered by federal banking regulations. Cardholders can also access their balances securely via a 24-hour, seven-day-a-week toll-free number or via the internet.
JPMorgan Chase, through its Direct Payment Card product, has launched and continues to administer unemployment debit card programs in Arizona, Louisiana and New York. The firm also provides debit card services to more than 13 million participants in publicly funded programs domestically and internationally. In Rhode Island, JPMorgan Chase has also used debit cards to replace food stamp coupons and public assistance checks. Nationally, JPMorgan Chase provides debit card services to agencies in more than 30 states and territories, and provides a similar service to public pension recipients in the United Kingdom. Other JPMorgan Chase debit cards provide payments for Social Security, Supplemental Security Income, child support, subsidized child and foster care, Women and Infant Children (WIC) nutrition benefits, payroll, and disaster benefits.
For more information about JPMorgan Chase services go to
http://www.jpmorganchase.com/info/pr/govdebitcards
About JPMorgan Chase
The Treasury Services (www.jpmorganchase.com/ts) business of JPMorgan Chase is a top-ranked, full-service provider of innovative payment, collection, liquidity and investment management, trade finance, commercial card and information solutions to corporations, financial services institutions, middle market companies, small businesses, governments and municipalities worldwide. With more than 50,000 clients and operations in 36 countries, JPMorgan Chase Treasury Services is one of the world's largest providers of treasury management services. JPMC TS is a division of JPMorgan Chase Bank, N.A., member FDIC.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $1.4 trillion and operations in more than 50 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset and wealth management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its JPMorgan and Chase brands.
Information about the firm is available at www.jpmorganchase.com
"The Rhode Island Department of Labor and Training will make it easier for unemployment recipients to get their benefits, while reducing costs," said Tim Noble, vice president and relationship banker for the state of Rhode Island. "Debit cards are superior to checks because they provide benefits faster and are more convenient than checks."
Unemployment benefit recipients will get their payments as fast as 24 hours after they certify and are approved by the Rhode Island Department of Labor and Training. The cards can then be used to purchase items at any merchant that accepts Visa. Recipients can get cash at any ATM and transactions will be surcharge-free at any Washington Trust, Allpoint and Chase ATM nationwide.
Debit cards also benefit recipients who may not have a bank account and would otherwise have to pay check-cashing fees. The cards are safer, as recipients can leave their funds in a secure environment instead of carrying cash around and the funds are FDIC insured and fully covered by federal banking regulations. Cardholders can also access their balances securely via a 24-hour, seven-day-a-week toll-free number or via the internet.
JPMorgan Chase, through its Direct Payment Card product, has launched and continues to administer unemployment debit card programs in Arizona, Louisiana and New York. The firm also provides debit card services to more than 13 million participants in publicly funded programs domestically and internationally. In Rhode Island, JPMorgan Chase has also used debit cards to replace food stamp coupons and public assistance checks. Nationally, JPMorgan Chase provides debit card services to agencies in more than 30 states and territories, and provides a similar service to public pension recipients in the United Kingdom. Other JPMorgan Chase debit cards provide payments for Social Security, Supplemental Security Income, child support, subsidized child and foster care, Women and Infant Children (WIC) nutrition benefits, payroll, and disaster benefits.
For more information about JPMorgan Chase services go to
http://www.jpmorganchase.com/info/pr/govdebitcards
About JPMorgan Chase
The Treasury Services (www.jpmorganchase.com/ts) business of JPMorgan Chase is a top-ranked, full-service provider of innovative payment, collection, liquidity and investment management, trade finance, commercial card and information solutions to corporations, financial services institutions, middle market companies, small businesses, governments and municipalities worldwide. With more than 50,000 clients and operations in 36 countries, JPMorgan Chase Treasury Services is one of the world's largest providers of treasury management services. JPMC TS is a division of JPMorgan Chase Bank, N.A., member FDIC.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $1.4 trillion and operations in more than 50 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset and wealth management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its JPMorgan and Chase brands.
Information about the firm is available at www.jpmorganchase.com