Sign up for the BETTER newsletter

You have been successfully added to our newsletter.

NBC News BETTER brings you wellness news and tips to make the most of your mind, your body and your life.

Wal-Mart to Offer Low-Cost Mobile Checking Account

/ Source: Associated Press
Get the Better newsletter.

The 30-ton whale in retailing is making a deeper dive into banking. Wal-Mart is launching a mobile checking account for its customers that will eliminate some of the fees charged by banks. The nation's largest retailer said Wednesday that the GoBank checking account through Green Dot Corp. has no minimum balance requirements or overdraft fees. A monthly membership charge of $8.95 can also be waived if a direct deposit of $500 is made each month.

The company said that credit bureau ratings and other scores traditionally used to determine eligibility are not part of the process. Wal-Mart Stores Inc., based in Bentonville, Arkansas, already had a relationship with Green Dot, offering prepaid cards from the Pasadena, California-based company. A MasterCard debit card can be linked to the GoBank account, which can be set up with a starter kit that costs $2.95.

Get the Better newsletter.


-- The Associated Press and NBC News staff

Get the Better newsletter.
MORE FROM better

Have feedback?

How likely are you to recommend to a friend or colleague?

Very unlikely
Very likely
Please select answer

Is your feedback about:

Please select answer

Leave your email if you’d like us to respond. (Optional)

Please enter a valid email address

Thank you!

Your feedback has been sent out. Please enjoy more of our content.

We appreciate your help making a better place.