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Icon Bank Resources utilizes its proven technology, operations and marketing expertise to offer its Direct Deposit Bank Account or Direct Deposit Payroll Card to the more than 55 million unbanked individuals. Icon Resources focuses on this customer base to provide a banking relationship to those individuals who may not, for various reasons, have a traditional banking relationship. Icon Bank Resources has become a viable option for many individuals to enter or re-enter the banking system. Icon Bank Resources focuses on specific markets that historically have been underserved by the banking industry. Icon Bank Resources target markets consisting of the unbanked individual as well as the companies that employ them. Generally, Icon targets employers who have a high percentage and / or high number of low to moderate income, hourly employees. The unbanked population includes those who receive government benefits, payroll checks, and other types of payments, but currently have no banking relationship. Companies are seeking to move all employees to direct deposit as a means of providing additional employee benefits while reducing payroll costs and increasing employee productivity. It is estimated that 25% to 30% of the U.S. work force is unbanked. Banks have not focused on this customer base due to increased costs and risks associated with them. It is very expensive to service customers via a branch teller which is where this customer would go if they had a problem. Because this consumer could not qualify for credit cards, mortgages, and CDs, a bank has very little opportunity to turn this consumer into a profitable customer. Traditional banks charge $8 -$15 per month for a zero balance checking account. Additionally, many immigrant workers transfer funds each pay period to support relatives in their native country via check cashers or other wire transfer companies at a cost of up to $60 per transfer. Due to increased credit requirements and security measures at banks, the only alternative for many unbanked individuals is to utilize expensive check cashers. A typical check casher charges 2% - 5% to cash a payroll check. The Direct Deposit account is a cost effective solution for unbanked individuals to obtain the safety and convenience of an FDIC insured bank account.   Product Descriptions Direct Deposit Payroll Card: The Direct Deposit payroll ATM card provides employers an alternative way to pay their employees with Direct Deposit even if the employees currently do not have bank account Direct Deposit Bank Account: We offer everyday people the opportunity to look beyond their past, and give them the opportunity to open a Direct Deposit checking account even if they currently have a problem with Telecheck or Chexsystems.   Disclaimer for "100% Approved", "No Turn Down" & "Guaranteed Approval" The USA PATRIOT Act is a Federal Law that requires all financial institutions to obtain, verify and record information that identifies each person who opens an account. You will be asked to provide your name, address, date of birth, and other information that will allow us to identify you. You may also be asked to provide documentation as proof of identification. "Everyone is Approved" and "No One is Turned Down" is contingent upon successfully passing this mandatory identification confirmation. Credit Builder is an option currently available only with TriCentury Bank Debit MasterCard Program. Credit Builder is an optional service that is made available to you at no additional cost as part of the TriCentury Bank Debit MasterCard program. Credit Builder is only a service that provides your payment history of monthly maintenance fee to credit reporting agencies. Credit Builder does not improve or repair your credit record, credit history or credit rating. It also does not provide advice or assistance for the improvement or repair of your credit record, credit history or credit rating. For more information, see Credit Builder Terms and Conditions. © 2003 Icon Bank Resources, Inc. All materials and images are property of Icon Bank Resources, Inc. unless otherwise stated. All rights reserved. Privacy Policy. Sitemap Website Designed & Developed By: BoxGraphic.com