NWC launches direct deposit system for prepaid We cards

NWC has introduced a new prepaid card for its customers which would allow Nunavummiut shoppers to receive government benefits directly to a credit card.

The North West Company has introduced a new prepaid card that will allow its customers across northern Canada to receive government benefit and pay cheques directly onto their prepaid We cards.

In collaboration with Visa, NWC launched the new direct deposit feature on its We Financial Visa Card June 17.

That credit card is a reloadable prepaid card used by customers instead of a bank account, designed for shoppers with limited access to banking services.

As part of the new service, NWC customers in the North can get federal, territorial and provincial government benefits and payroll amounts deposited directly to the credit card.

So cardholders who already use the We Financial prepaid cards can now sign up to use the new direct deposit feature, NWC said in a June 17 release.

“Making direct deposit easily accessible across our Northern and NorthMart stores will make a positive difference, in terms of both time and money saved, for our valued customers,” said North West’s CEO, Edward Kennedy, in the same release.

“Given that the government of Canada plans to phase out federal government cheques by April 2016, we are pleased to offer our customers a direct deposit solution onto our We Financial Visa Prepaid card for their government benefits and payroll needs.”

Cardholders can sign up for the new direct deposit feature at their local Northern or NorthMart store, the company said, where NWC will provide customers with the forms they need to complete their enrolment.

NWC does not indicate the user fees they’ll charge for the new prepaid service.

However the We website provides a lengthy list of service fees imposed on customers.

For more information, visit www.wefinancial.ca.