Current students, faculty and or staff members can upgrade starting in October 2012. As part of the contract, U.S. Bank will also deploy ATMs on campus.

U.S. Bank is a leader in offering multiple banking services to students, faculty and staff on university campuses, including dual-purpose banking and ID cards, but this is the first time that the company has combined the ID with a prepaid card. The card can be used for purchases wherever debit MasterCard cards are accepted.

"Our partnership with NC State offers students and staff of this nationally-recognized university the convenience and security of having a single card that operates as their campus ID and a card they can use to pay for purchases," said Kevin Morrison, senior vice president at U.S. Bank. "With U.S. Bank's prepaid MasterCard functionality, approximately 34,000 students and 8,000 staff members now have the ability to receive a direct deposit from their employer, the financial aid office or their parents and to spend those funds on or off-campus. They also have the benefit of U.S. Bank's online tools so they can easily stay informed and in control of their finances."

The new Wolfpack One Card continues to provide on-campus functionality, including meal plans, the AllCampus debit account and door or parking gate access to name a few.

"This relationship provides a significant upgrade to our existing card program, giving our campus population a convenient card and banking program when combined with MasterCard's worldwide acceptance," said Dr. Dan Adams, associate vice chancellor for campus enterprises at NC State.

The Wolfpack One Card is free for new students and $10 for current students, faculty or staff members who wish to upgrade. The card has no enrollment or monthly fees, and no minimum balance required to keep the account active. U.S. Bank offers email and text alerts to keep cardholders informed about account activity - such as ATM withdrawals, processed deposits or low balances - and access to a secure website (online or via their mobile phone) to view account balances, check transactions and make changes to the account anytime.

Parents, an employer or the university financial aid office can deposit funds electronically, as can any other Wolfpack One Cardholder. (Students electing to receive funds from multiple sources are required to have a Deluxe account, which is free of charge.) Cardholders can withdraw money for free at merchants where debit MasterCard cards are accepted and at the 23,000 U.S. Bank or MoneyPass-branded ATMs.