Too early to tell success of new i-card program
Students make transactions at the TCF Bank in the Illini Union Bookstore on Thursday. New i-cards link to debit and checking accounts. Erica Magda
September 7, 2007
When her i-card broke in half, Amber Davis was in no rush to get a new one. Davis, junior in LAS, just taped it together and went on her way.
“I just need it to get on the bus,” she said.
But if Davis was swiping her i-card to make purchases, she might have been more careful to begin with.
About 15,000 University students who have been issued new i-card since May 14 now have the option to open a free checking account at TCF Bank in the Illini Union Bookstore and tie it to their i-card so that the card functions as a PIN-based debit card.
Clarissa Doty, freshman in Business, said she anticipates the convenience of having to only carry an i-card with her.
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“I haven’t put money in,” Doty said, “but I’m sure it’ll be good when I do it.”
While TCF Bank would not disclose the exact number of students who use their card as a debit card, Mark Dillon, executive vice president for the bank, said the company is satisfied with the interest students have shown.
“We really are pleased with the start of the program and with the acceptance and teamwork shown by the University,” Dillon said. “We’re also pleased with student acceptance to date.”
John Ealy, coordinator for i-card programs at the University, said the program is too new to judge.
“It’s still early in the relationship but the program seems to be receiving a positive response over all,” he said. “But it’s really too early to gauge at any depth at this point.”
While the i-card does offer convenience to students, Doty said that some people are worried about the drawbacks of putting so much capability into one card.
“I’ve actually heard that people had been really nervous about (losing their card) and that someone could just start spending their money,” Doty said.
Ealy said the i-card functions solely as a PIN-based debit card to protect students’ accounts, but he added that students must report a stolen or lost i-card to both TCF Bank and the i-card programs office.
Students can manage their accounts at one of several ATMs, on the phone or online. As of Aug. 24, students can make transactions at Florida Avenue Residence Halls, Campus Recreation Center-East, Gregory Street Dining Hall, the Undergraduate Library, Grainger Engineering Library, the Illini Union and the Illini Union Bookstore.
