Market Commentary and Intraday News
Wal-Mart, American Express team on prepaid card
225 days ago
(AP:BENTONVILLE, Ark.) Wal-Mart Stores and American Express are teaming up on a reloadable prepaid card for shoppers.
The two companies said Monday that Bluebird, which began during a pilot program late last year, will have no minimum balance, monthly, annual or overdraft fees.
Wal-Mart Stores Inc. and American Express Co. view the card as an alternative to debit and checking accounts that will help consumers better manage and control their finances. The companies say Bluebird was built on feedback from consumers who said they were bothered by the rising fees related to checking accounts and debit services.
Bluebird will be available next week at www.bluebird.com and in more than 4,000 Walmart stores. www.bluebird.com Wal-Mart, based in Bentonville, Ark., is the world's biggest retailer. American Express is based in New York.
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