We are looking at potential of offering prepaid card which can be funded by selling Bitcoins.
Restrictions
1)
2) You sell coins, we buy them, and as a result we owe you USD. That debt in USD will be settled by loading your prepaid card. Selling price will be based on MtGox prices minus a spread of 1% to 2%. We won't be able to accept Mt.Gox (or other exchange) codes or facilitate trading between peers (exchange). Trades will always be only one way. These aren't our ideas and are required to implement them if we wish to secure a license and merchant account. The load/reload will be a cash deposit to your account. That means your funds will be available (almost) instantly.
3) There will be fees. The majority of these fees go directly to the bank and interchange network. Our compensation will be primarily* based on the spread between rate we purchase coins at and the rate we can sell them to the major exchanges. Our goal is for that spread to be 1% to 2% but will float dynamically based on our available cash reserves. Consumers will know in advance what rate they are selling coins at. *In the name of full disclosure we do receive a small payment from the network for each card sold and each load performed but we are prohibited from discounting or disclosing it.
4) Offer will be for US residents only.
Tentative fee schedule
Card issuance: ~$5.00 (plus S&H)*
Reload: ~$3.00 **
Monthly: ~$3.00
ATM Cash Withdrawal: ~$1.00
ATM Balance Inquiry: ~$1.00
ATM Decline: ~$1.00
POS Signature Purchase: FREE
POS PIN Purchase: FREE
"Cash Back" on PIN Purchase: FREE
Lost Card Replacement: FREE ***
24/7 Phone Customer Service: FREE
Employer Direct Deposit: FREE
* We can provide account details (card #, exp date, etc) however you will be unable to reload until you receive the physical card and register it with the bank.
** Reloads are possible via Bitcoin sales and ~10,000 POS locations (no they don't take Bitcoin, only USD). The network is significantly smaller than GreenDot or NetSpend but should be useful for loading some emergency cash.
***Card replacement at no cost is for first replacement and by USPS First class mail only. Subsequent replacements or overnight delivery has higher fee.
Loading Limits
Max Initial load: $500 (unregistered)
Max reload per tx: $1,000 (requires registration)
Max reload per day: $1,000
Max value per card: $5,000
[Update] Alternate vendor: https://bitcointalk.org/index.php?topic=80005.msg890795#msg890795