Wal-Mart and American Express will offer consumers a prepaidcard, called Bluebird, that the companies describe as analternative to debit cards and checking accounts. Bluebird will beavailable online or at Wal-Mart's 4,000 stores. The product has nominimum balance and it does not charge annual, monthly or overdraftfees.
|The companies say consumers can deposit money onto the card viadirect deposit, by paying cash at a Wal-Mart store, by remotedeposit capture using a Bluebird mobile app, or by linking achecking or savings account to the card.
|Barron's notes that for American Express, Bluebird isa departure from its usual focus on affluent consumers.Barron's also notes that the stock of GreenDot, a companythat already partners with Wal-Mart to offer a prepaid card, hastaken a beating on the Bluebird announcement.
|See the full story here and the companies' press release here.
|Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
- Exclusive discounts on ALM and Treasury & Risk events.
- Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
*May exclude premium content
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
