Thrifty Thinking: Bluebird

Did you know that traditional checking account consumers pay an average of $259 per year (according to a study by Bretton Woods)? That seems crazy. Walmart and American Express have launched Bluebird, an alternative to debit and checking accounts. 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. 

Daniel Eckert, vice president of financial services for Walmart U.S, said, “At Walmart, we are always looking for ways to make a difference by using the strengths that come with our size, scale and reach to take on the challenges that matter most to our customers. Reducing the costs and frustration that come with high fees is one of these issues.” 

Bluebird members can deposit money in a variety of ways including payroll direct deposit, remote check capture via the Bluebird mobile app, using cash at any Walmart register, or by linking a checking, savings, or debit card to the account.  Members can also set up alerts and controls to manage their account, use their Bluebird card at millions of locations that accept American Express® Cards and enjoy access to benefits such as Purchase Protection, Roadside Assistance, Global Assist® Services, fraud protection in the event the Card is lost or stolen, and 24x7 customer service. If a customer’s Bluebird card is ever lost or stolen, funds stay protected at American Express, and the card is replaced at no charge.

 

Bluebird provides features such as person to person (P2P) payments, mobile app functionality, and the ability to control subaccounts for friends and family right from a smartphone. Bluebird is built upon the digital payment capabilities of American Express’ Serve platform.

 

The only fees consumers will ever pay are clear, transparent and within their control, such as out of network ATM withdrawals for a consumer that does not have direct deposit. Bluebird customers can get access to cash at a network of more than 22,000 MoneyPass® ATMs nationwide. Cash access through MoneyPass’ network is fee free and surcharge free for Bluebird customers enrolled in direct deposit. For customers not enrolled in direct deposit, each MoneyPass ATM withdrawal is just $2.  For out-of-network ATMs, each withdrawal is also $2, though additional ATM operator fees apply.

Consumers can sign-up for free on Bluebird.com, or choose to buy a $5 account set up kit at a local Walmart for immediate use (with limited functionality). The set up kit includes a starter card, which can be funded with cash or a debit card at the register with any dollar amount between $1 and $500. Once funded, the starter card can be used immediately anywhere in the United States where American Express Cards are accepted. Customers must then complete their account set up at bluebird.com in order to access the full features and benefits of Bluebird, as well as receive their personalized Bluebird card.

About Wal-Mart Stores

Wal-Mart Stores, Inc. (NYSE: WMT) serves customers and members more than 200 million times per week at over 10,300 retail units under 69 different banners in 27 countries. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting http://corporate.walmart.com, on Facebook at http://facebook.com/walmart and on Twitter at http://twitter.com/walmartnewsroom. Online merchandise sales are available at http://www.walmart.com and http://www.samsclub.com.

 

About American Express

American Express is a global services company, providing customers with access to products, insights and experiences that enrich lives and build business success.  Bluebird is a prepaid access account issued by American Express Travel Related Services, Inc.  Learn more about American Express at americanexpress.com and connect with us on facebook.com/americanexpress, foursquare.com/americanexpress, linkedin.com/companies/american-express, twitter.com/americanexpress, and youtube.com/americanexpress.