Wal-Mart, Green Dot Announce Rollout Of GoBank Checking Account Service

(RTTNews) - Wal-Mart Stores Inc. (WMT) and Green Dot Corp. (GDOT) on Wednesday announced the nationwide rollout of GoBank, a checking account product available exclusively on the retailer's shelves.

The checking account from Green Dot Bank provides a host of modern features and a linked MasterCard debit card. GoBank doesn't charge overdraft fees, minimum balance fees or monthly fees with qualifying direct deposits.

The product will be available across the United States by the end of October.

"Walmart customers want easier ways to manage their everyday finances and increasingly feel they just aren't getting value from traditional banking because of high fees," said Daniel Eckert, senior vice president of services for Walmart U.S. "Adding the GoBank checking account to our shelves means our customers will have exclusive access to one of the most affordable, inclusive and easy-to-use checking accounts in the industry. GoBank gives our customers yet another option as to how they manage their money. When our customers have options, they win."

Wal-Mart shares closed Wednesday's regular trading session at $77.08, up $1.48 or 1.96%. Green Dot shares closed the day's regular trading session at $23.41, up $4.59 or 24.39%.