BanX, Inc. was a pioneer in the stored value card business.  BanXcards were developed during 1999 and 2000.  Banx’s objective in creating BanXcard was “To provide through an easily accessible magnetics stripped card frequently used essential financial service at very reasonable prices.”  BanXcards achieve this objective.

Before the start-up BanX management observed that those who sent funds abroad or maintained a low balance checking account were paying a high price for the services provided.  The BanXcard was created to become and inexpensive substitute for a low balance checking account.

Those that have their wages loaded directly on a BanXcard avoid check cashing fees and purchase such things as groceries using a card just like most others.  No longer does a BanXcard holder have follow the unsafe practice of reaching in his pocket for a roll of cash while purchasing groceries.