Occupy Wall Street to launch a debit card
October 3 , 2013
Two weeks ago Occupy Money Cooperative began to raise money to fund its operations and come up with its first product: an Occupy debit card. The card will be prepaid and the group promises to "directly tackle the concerns of the unbanked and underbanked.
With a transparent fee structure, the card will charge 99 cents for a balance inquiry and $1.95 for every withdrawal from the ATM.
A member mentioned that "there is no profit here." However, it's hard to believe that considering the amount of work that went into announcing the product.
Some people are unwilling to accept the idea of the card being associated with Visa, while some don't like the fact that the movement backs the card.
"Occupy has always been a consensus-based movement," an organizer said. "And there's no consensus on this issue."