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Closing and Beyond


  • Reverse Mortgage
  • Funding options to make life easier.

Golden Gateway Financial provides products that support your success with a reverse mortgage: the Golden Gateway Financial Your Money Prepaid MasterCard® and the Priority PaySM Service. You can choose to have your funds loaded onto a prepaid MasterCard card, which can be used to get cash or to make purchases at millions of locations wherever Debit MasterCard is accepted. You can also sign up for Priority PaySM Service, which ensures that your critical bills get first priority from your reverse mortgage funds.

The Golden Gateway Financial Your Money Card

Your Card

Safer, more secure than cash or checks

  • In 2007 more than 700,000 Social Security checks were reported lost or stolen.
  • More than 800,000 cases of identity fraud are the result of mailbox theft.
  • Lost or stolen cards will be replaced, as well as any stolen funds, thanks to the MasterCard Zero Liability policy.*

Easier

  • You're spared several hassles:
    • No more waiting for the check to arrive
    • No more trips to the bank just to cash your check
    • No more written requests to access your own reverse mortgage line of credit
    • No more trouble resolving bad transactions
    • No more guessing - track how you spend your reverse mortgage funds
  • Thanks to the trusted MasterCard brand, your card is accepted online and at businesses and ATMs worldwide that display the MasterCard®, Maestro®, Cirrus®, or STAR® Acceptance Marks.
  • You can call or log in to your account online to check your funds balance and transaction history.

Priority PaySM Service

Bills

Golden Gateway Financial's Priority PaySM Service ensures that critical bills such as utilities, Medigap insurance, and property taxes are paid as a priority from reverse mortgage funds.

How does it work?

Never miss paying a critical bill with Priority Pay Service

We'll serve as your personal assistant by taking on the job of paying these critical bills, and making sure that they get first dibs on the proceeds from your reverse mortgage each month.

Here's our process

  • Together we'll walk through the bills that you'd like to get paid as first priority from your card each month.
  • Going forward, we'll assume the responsibility of paying these critical bills, which will be paid automatically from your reverse mortgage money. You can choose to receive e-mail notifications, confirming the payment of each of your bills
  • You can call or go online to review your pending payments. If you'd like to add or remove bills, you can change your preferences at any time.

What it costs

We'll manage four of your critical bills for a $10 Priority Pay Fee per month or an unlimited number of bills for a $15 Priority Pay Fee per month.

*See Cardholder Agreement for additional information. Conditions and exceptions apply. This card is issued by The Bancorp Bank pursuant to license from MasterCard International Incorporated. The Bancorp Bank; Member FDIC. MasterCard and the MasterCard brand mark are registered trademarks of MasterCard International Incorporated.

Obtaining Your Card: The USA PATRIOT Act is a federal law that requires all financial institutions to obtain, verify, and record information that identifies each person who opens a Card Account. What this means for you: When you open a Card Account, we will ask for your name, address, date of birth, and other information that will allow us to reasonably identify you. We may also ask to see your driver's license or other identifying documents.