Reporting Tony Romeo
By Tony Romeo
HARRISBURG, Pa. (CBS) – Thousands of Pennsylvanians who access unemployment and workers’ compensation benefits with debit cards will soon be getting a new card that the state treasurer says will save them more than $5 million in fees.
About 150,000 people – or a bit more than 40-percent of Pennsylvanians who get workers comp or unemployment benefits – get them through debit cards. But state Treasurer Rob McCord says users were being hit with excessive fees.
“A pet example of ours was people were being charged even for not using the card – they were being charged simply for moving the money to their personal account. And we thought there has to be a better way.”
So the state has teamed up with JP Morgan Chase to issue a new card which will see fewer fees, including unlimited in-network ATM cash withdrawals. The number of in-network machines will also increase by 25 percent. Benefits will stop being sent to old cards and will instead go to new cards as of March 15th.