MetaBank and Bancorp Bank have struck another deal, this time for assets connected to the latter's general purpose, reloadable card program managed by Catalina Card Services.
Sioux Falls, S.D.-based MetaBank estimates purchased and assumed prepaid card account liabilities will reach an average of $4.2 million in the first 12 months of the deal's implementation. The figure represents balances on 10,689 prepaid card accounts.
MetaBank and Wilmington, Del.-based Bancorp Bank completed a similar transaction in May 2017.
