Tag: WalMart

3 Things Banks Should Do About Walmart Offering Checking

Walmart Checking Competition GoBank

Yesterday, Walmart, under the brand “GoBank” announced that they will offer checking accounts to anyone over 18 that can pass an identification check. The giant retailer will leverage its partnership with Green Dot Bank and offer a debit card-linked, mobile checking account starting in late October that will cost $8.95 per month for accounts under $500 with a direct deposit (free if over) and $2.95 to set up. The move strikes right at the heart of bank’s most profitable products taking away future needed balances. So what shall we do about it?

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