The Revolution Money Blog

Why We Ask for Your Social Security Number

Some bloggers and forum goers are curious as to why MoneyExchange requires a Social Security Number.  Here's are a few reasons why:

• Your Social Security Number is used to confirm your identity by cross-referencing it against the other personal data you provide.  This way, we are able to insure that it is actually you who is opening up an account under your name.  Ultimately, requiring a Social Security number helps to protect your identity.  The FTC's website provides tips for avoiding identity theft.
• Federal law requires all financial institutions to acquire such information to assist in the fight against money laundering and terrorism. 

Pin Yourself for Protection with the Revolution Card

Put simply, credit card fraud has become a major issue in the United States. 

Last year, the FBI reported $52.6 B in credit card fraud in the U.S.  Both merchants and consumers pay for this cost.  Merchants lose revenue on fraudulent transactions that are charged back to them.  Merchants pass on this cost to the consumer by raising prices to compensate.  The victim of credit card and identity theft must work for years to rebuild their financial security.

Why has this become such a problem? 

• Signatures are easy to forge. 
• Many merchants don't ask the customer for any verification data.  In some instances, such as Gas station pumps and kiosks, a simple swipe is all it takes to use a credit card. 
• When a merchant does ask for verification-- the billing address ZIP code, for example-- that information is easily accessible to someone who has stolen the victims wallet.

Indeed, this signature based system is about as effective as Brett Favre in retirement (not very). But enough of the fear mongering.  Fortunately, the Revolution Card greatly reduces the likely hood of fraud.   

The Revolution Card is the first U.S. PIN based credit card.  Transactions using a PIN are (find exact percentage) more secure than signature based transactions. This is one of the most innovative aspects of the Revolution Card.  Without access to the account holders PIN, a Revolution Card- aside from being an odd choice for a coaster- is completely useless.    

There's more.  The Revolution Card also does not have the account holders name embossed on it.  So, if someone picks your Revolution Card up off the street, they'd be unable to gleam any information about you from it. 

Parents Can Use RMX to Help College-Bound Kids with Costs

An article in today's Wall Street Journal highlights a growing need for parents to help their kids out with the extra costs of college. Students could use the extra cash for all kinds of things including food, books, and entertainment. 

RMX is perfect for this situation because it's free to use. Parents can send money anytime, day or night, INSTANTLY and AT NO CHARGE.  RMX is quicker than mail, and cheaper than Western Union or wire transfers. 

Plus, with the new MoneyExchange Card, college students have immediate access to those funds through ATM's.

Read full article here.

Shipley Gas Station Customers Save 10 Cents/Gal with Revolution Card

One of the benefits of using the Revolution Card is that it offers cardholders immediate discounts at the point of sale.  And there are few places where an immediate discount is more needed then at the gas pump. 

We recently launched a co-branded credit card with Shipley Energy, allowing card holders to save 10 cents a gallon.  Below is a clip of a segment that ABC News did on ways to save $ on gas.  While using the card won't reduce prices to $2/gallon, it does help families deal with rising costs during these tough economic times.   

MoneyExchange is Ideal Payment Tool for Fantasy Football League Players

MoneyExchange is a natural fit for fantasy sports players.   For the many folks who play in cash leagues, mailing and cashing checks is a hassle.  If you're a commissioner, MoneyExchange makes it easy to track and collect funds from your league's members with only a few clicks on the computer. 

• If you use Yahoo! for your fantasy football league, you'll get access to Yahoo's Draft Kit and Stat Tracker ($10 apiece), along with $10 in your account by signing up for MoneyExchange through Yahoo!.  Stat Tracker provides live fantasy score updates.  Draft Kit provides expert fantasy analysis. 

• If you don't use Yahoo! for your fantasy league, MoneyExchange is nonetheless useful. There is a $10 referral bonus for referring friends to sign up for MoneyExchange.  So, if you're a league commissioner, you can make your life easier and add to your leagues cash prize by encouraging your colleagues to pay you with MoneyExchange. 

A Revolutionary Blog

Greetings blog readers! My name is Tripp and I want to welcome you to the Revolution Money blog. I am a member of the marketing team and focus on social media. Part of my job includes reaching out to various communities online such as sellers about our core products – Revolution Card and Revolution MoneyExchange.

The purpose of the this blog is simple – we want to provide company updates and gather valuable feedback from our customers. Over the coming months, we’ll be posting on a variety of topics including new product releases, Revolution Money in the news, commentary from our management team, and profile features on our customers and our employees.

As bloggers, we'll be upfront, honest and transparent. We'll allow both positive and negative comments and respond to these comments quickly. 

I look forward to our dialogue! Click here to learn more about me and why we've decided to blog.