1. Home
  2. More
  3. Walmart Offers an Alternative to a Bank Checking Account
  • Sign up
  • Sign in
Money Talks News
  • Popular
  • Latest
    • Coronavirus
    • Ask Stacy
    • Make
    • Save
    • Borrow
    • Grow
    • Live
    • More
  • Deals
    • Automotive
    • Clothing & Accessories
    • Computers
    • Electronics
    • Everything Else
    • Financial Services
    • Gaming & Toys
    • Health & Beauty
    • Home & Garden
    • Movies, Music & Books
    • Office & Supplies
    • Special Occasion
    • Sports & Fitness
    • Store Events
    • Travel & Entertainment
  • Podcasts
  • Solutions
  • Academy
  • Subscribe to our newsletter
  • Follow us on Facebook
  • Follow us on Twitter
  • Search our site
Seniors holding hands in pool4 Simple Steps for a More Comfortable Retirement
Happy older investor5 Things You Must Do When Your Savings Reach $100,000
10 Amazing Ways to Build Wealth at Any Age10 Amazing Ways to Build Wealth at Any Age
Senior standing beside window5 Retirement Planning Mistakes You’ll Regret Forever

Walmart Offers an Alternative to a Bank Checking Account

The retail giant will begin offering a low-cost checking account.

Advertising Disclosure: When you buy something by clicking links on our site, we may earn a small commission, but it never affects the products or services we recommend.

Krystal Steinmetz • September 30, 2014

Share on Facebook Share on Twitter Share by Email Share on Pinterest Printable version available to members PDF version available to members
Image Not Available

America’s largest retailer is getting into the banking business in a big way.

Walmart announced it will soon offer low-cost checking in partnership with Green Dot. The new checking account, dubbed GoBank, will be available at Walmart stores by the end of October. According to USA Today:

GoBank will charge $8.95 a month but will waive the fee if customers consent to a monthly direct deposit of $500. Other fees that are associated with “free” checking accounts at commercial banks — for overdraft, not maintaining a minimum balance or writing bad checks — are waived.

Steve Streit, CEO and founder of Green Dot, said in a statement:

No other checking account makes it this easy and affordable to manage your everyday finances. GoBank is breaking down the barriers to traditional banking and brings the benefits of a FDIC-insured checking account that’s loaded with features to a large segment of Americans.

According to Fortune, it’s expected that Walmart’s new checking account will appeal to low-income Americans and the unbanked. Unlike traditional banks that use credit bureau ratings to determine eligibility, potential GoBank customers only need to pass an ID verification to open an account. Nearly 10 million U.S. households don’t use a bank, Fortune said.

Customers must purchase a $2.95 starter kit to open an account, after which GoBank customers can immediately begin using their MasterCard debit card.

Walmart already offers bill pay, check cashing and prepaid debit cards.

What do you think of Walmart’s new bank account option? Share your comments below or on our Facebook page.

  Like Article   Add a Comment

Sign up for our free newsletter!

Simple ways to make, save, and grow your money daily:

  happy subscribers    
MTN Podcasts

Every week our podcasts bring you lively money discussions that will give you a few laughs along with advice that will make you richer.

Money with Stacy Johnson

Listen/Subscribe

Read Next

Some of our favorite stories for you to read next.

woman holding shoes
21 Purchases You Should Never Skimp On
woman shopping
12 Ways to Never Pay Full Price for Anything
Man watching broken TV
7 Things That Prove Cheaper Isn’t Always Better
Sign up for our free newsletter!

Join our many free newsletter subscribers building wealth and destroying debt:

Popular Topics
  • Retirement Investment
  • Surveys for Money
  • How to Make Money Online
  • Emergency Stockpile
  • Free Movie Streaming
  • Senior Discounts
Connect
  • Support & FAQs
  • Memberships
  • About
  • Contact
  • Careers
  • Accessibility Statement
Media
  • Television
  • Where We Air
  • Scripts
  • Sitemap
Legal
  • Terms
  • Privacy
  • Cookies
Editorial
  • Fact-Checking Policy
  • Ethics Policy
  • Corrections Policy
  • Ownership & Funding Info

Do Not Sell My Personal Information

© 2023 Money Talks News. All Rights Reserved.
‭1 (833) 669-8557 | 1732 1st Ave #26661, New York, NY 10128

Advertising Disclosure: This site may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website.

Add a Comment

Our Policy: We welcome relevant and respectful comments in order to foster healthy and informative discussions. All other comments may be removed. Comments with links are automatically held for moderation.

Cookie Notice

Our website uses cookies to ensure you get the best browsing experience. By using our website, you agree to our use of cookies. Visit our Cookie Policy and Privacy Policy to learn more.

Sign up for our free newsletter!

Join our happy subscribers and sign up for our free newsletter! You'll get:

  • Tips and advice from our expert money reporters. (Our average experience is 18 years!)
  • Unexpected ways to make more and spend less, delivered to you daily.
  • The best deals and coupons to save on everything you buy.
  • Free copies of our eBooks '208 Ways to Save Money Every Day' and '108 Easy Ways to Earn Extra Cash', together a $29 value!