American Express, Walmart roll out checking alternative with fewer fees

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blankWalmart and American Express Monday  announced the launch of Bluebird, an alternative to debit and checking accounts.

Bluebird has been developed for the tens of millions of Americans  seeking features such as deposits by smartphone and mobile bill pay, fee transparency, and no minimum balance, monthly, annual or overdraft fees. Banks have been under growing criticism for fees and minimum balances requirements that send customers to check cashing services  and other high-fee alternatives.

Chase offers a similar service known as Liquid in its retail banking footprint outside Delaware and credit unions also offer no or low-fee checking (share draft) products.

Bluebird  will be available next week online at www.bluebird.com and in more than 4,000 Walmart stores. Building on a pilot program launched in late 2011, Bluebird was shaped by feedback from consumers who said they were not getting the value they expect from traditional checking account and debit services because of increasingly higher fees.

Click on the link below for the full press release and fee schedule:

via American Express and Walmart Launch Bluebird®: a New Alternative to Debit and Checking Accounts.

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