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A Better Way to Max Out Your Credit Card? Walmart, AmEx Take on Banks With Bluebird

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BlueBird starter kit, not a sleep-aid prescription

Wal-Mart and American Express have teamed up to develop a prepaid debit card that they've dubbed Bluebird. The companies are peddling Bluebird as a way to avoid or reduce all the fees associated with bank accounts (i.e. overdraft, minimum balance requirements, monthly/annual fees) while retaining the perks of having accounts and/or credit.

For example, the cards accept direct deposit and smartphone deposits of photographed checks, can electronically pay bills, allow cash exchange between friends, offer online managing options, and unlike other prepaid or reloadable cards, users can add money free-of-charge. Plus, while you might not ever actually need to leave a Wal-Mart (what with the prescription eyes services, Kardashian everything, pharmacies, McDonald's, and now banking), the card is accepted everywhere AmEx is accepted. What can't the account do? Accept a paper check. But AmEx is working on that. For more information, head here and stay tuned to see if Bluebird actually revolutionizes banking as we know it.
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