The competition heats up: Wal-Mart will begin offering checking accounts.

PositionMARKETING NEWS - Wal-Mart Stores Inc - Brief article

WAL-MART HAS ANNOUNCED that it will begin offering checking accounts in the form of the GoBank product from Green Dot Bank, an online bank, according to news reports.

GoBank has no overdraft or minimum balance. There is a membership charge of $8.95 a month, but the fee can be waived if a direct deposit is set up for at least $500 a month. A starter kit costs $2.95.

The product is aimed at the underbanked or those whose payments records prevent them from obtaining traditional checking. It is also...

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