Introducing MAGIC by Magic Johnson, a Reloadable Prepaid MasterCard(R) From Earvin ‘Magic’ Johnson

“I want people to know this is my card,” said Johnson, Chairman and CEO of Magic Johnson Enterprises. “I created this card because I believe everybody should be able to function in today’s society where money has changed, and cash is no longer king. The MAGIC prepaid card can help make people’s lives easier because it’s safer and it allows cardholders to feel more in control. It’s also important to me to be clear and upfront about the fees, so that people easily understand how this card works.”

“One of the ways I want to help people define their own success and achieve financial freedom is to give them more access to a solid financial toolkit,” says Johnson.

The MAGIC prepaid card offers an alternative payment solution that is safer and more convenient than cash, and it provides money management tools that empower customers to take steps toward greater financial security. Since there’s no credit check or bank account required, it’s also easy to get a card and begin using it.

The FDIC reports more than 60 million people in the U.S. do not have traditional bank deposit accounts or have limited access to a payment card.

“Let’s face it, cash can only take you so far. With the MAGIC prepaid card people can go places and do things they can’t do with cash — like shop online, rent a car, or book travel reservations. But beyond that, it’s a card designed for anybody who wants more enjoyment, stability and control in their life.”

With the MAGIC prepaid MasterCard there are never any fees for purchases, and when used the right way, cardholders get a wealth of benefits for one low monthly fee of $4.95.

Johnson concludes, “In many ways today if you don’t have plastic, you’re out, and I don’t think anybody should be left out. This card can work for everyone and we are committed to making sure it does.”

OneWest Bank is the largest Southern California-headquartered bank and is focused on delivering personalized, relationship-based banking to its customers. The bank has 77 retail branches conveniently located throughout Southern California to serve consumers and businesses, small and large. With total assets of $26 billion and $15 billion in deposits, OneWest has the size and the strength to offer a wide array of banking products and services, locally and nationally, and the stability to protect its depositors.