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01/02/2007 Archived Entry: "The SIGO card: new pre-filled card option"
THE SIGO CARD is a new option in pre-filled cards specially developed for Spanish-speaking immigrants. That is, for folks wary of the banking system or who might not have enough documentation to open a U.S. bank account.
But this part of the story was what I found intriguing:
Cardholders can send a second card to relatives abroad, who can then make withdrawals at a local A.T.M. Several workers said it cost $15 to send $300 to Mexico through Western Union. But with the Sigo card, the cardís sponsors say, it will cost about $4.50 ó the fee for using the A.T.M. in Mexico.
Hm. A pre-filled account from which two people in two locations can draw. That presents interesting possibilities. The types of documentation required (or rather, the types NOT required) also open some possibilities. These cards aren't by any means anonymous. But much creative thinking and doing seems possible here.
Posted by Claire @ 08:29 AM CST