It can be difficult for settlement recipients residing outside of the U.S. to receive the settlement payments due to them. SPI’s arrangement with a cash card provider solves a variety of payment problems facing recipients of structured annuity benefits who live outside of the U.S., or who are non-residents and do not maintain a U.S. domiciled bank account.
The process to have benefits paid via direct deposit to a cash card is identical to the process an insurance company requires in order to direct deposit benefits to a standard bank checking account. Furthermore, use of the card and associated fees are similar, often identical, to that of a standard credit/debit card. This is a 21st century, no-cost service available to SPI clients.