BanX Inc. Announces Increased Nationwide Distribution Efforts of BanXcard(R) in Response to Wal-Mart's Fee-Heavy MoneyCard

Low Fee Reloadable Cards Offered to Millions of Unbanked Americans Providing Safe, Flexible Alternative to a Low Balance Bank Account

SAN JOSE, CA--(Marketwire - July 24, 2007) - BanX Inc., a pioneer in the prepaid, stored-value card industry with over 3500 card-loading locations in the U.S., today announced greater nationwide distribution efforts of the Company's low-cost versatile BanXcard®, reaching out to more than twenty percent of the United States population without bank accounts. BanX's expansion notice comes a month after Wal-Mart, the world's largest retailer, announced rapid growth plans of banking services for low-income patrons, including the MoneyCard, a fee-based prepaid Visa.

Low-fee BanXcards, a safe substitute for traditional checking accounts, allow users to load cash on BanXcards at thousands of card-loading retailers including convenience, grocery and department stores and gas stations. BanX specializes in assisting convenience stores by enabling them to provide a low cost payroll check cashing service to consumers. Convenience stores participating in BanX's low risk program can charge less for this essential service than competing check cashing stores, avoid the cost and risk of having excess cash on hand, and increase store traffic and sales.

BanXcards provide a flexible, secure way to store and transport money, shop for goods, make U.S. and international phone calls, and transfer funds at low cost through worldwide ATM networks. Employers that direct deposit wages on BanXcards eliminate the cost of paper checks; and employees avoid check cashing fees, have a secure place to store funds and the use of a versatile low cost card.

"Wal-Mart's MoneyCard charges fifteen different fees* for a service that's supposed to serve low-income workers," said Alvin C. Rice, President of BanX Inc. "BanX believes hard working Americans shouldn't be penalized with high fees for not having a bank account."

BanX requires only a social security number or a government issued picture ID to apply. BanXcard holders have only a low $2.95 monthly service fee with no card activation fee and no fee for using the card to purchase merchandise.

Wal-Mart jolted the financial industry in June when the Company announced it will offer a host of services including the MoneyCard. Watchdog groups including Wal-Mart Watch denounced the move on blogs and members of Congress weighed in with concern.

"Wal-Mart has said before that they were only interested in processing payments and weren't going to offer financial services," said Republican Rep. Paul Gilmore of Ohio. "It's a matter of credibility when they promised something and do the opposite."

For BanXcard information or to request a BanXcard: or Customer Service: 877-Our-BanX (877-687-2269) or Three Girls Media at 408-929-8068.

*WalMart MoneyCard: Issuance - $8.94 Monthly - $4.95 Cash Reload - $4.64 ATM fee: $1.95

BanXcard: Issuance - $0.00 Monthly - $2.95 Cash Reload - $0.00 - $3.00 ATM fee $0.95

Full Fee Comparison Available Upon Request

Contact Information: Media Contact Three Girls Media & Marketing Inc. Ph. 408-929-8068 Erika Taylor Emily Larsen