Wednesday, September 24, 2014

Walmart Launches GoBank With Green Dot

In a move which will not surprise anyone familiar with Monrovia, California-based Green Dot, the company's mobile banking service, GoBank, has been launched by Walmart. According to Walmart and Green Dot, GoBank, the FDIC-insured checking account driven by mobile apps and low fees, the checking account product will be available nationwide exclusively through Walmart by the end of October. Financial details of the deal between the two companies were not announced. Prepaid card--and now, banking provider--Green Dot rose to prominence due to its rollout of prepaid credit cards at Walmart, which benefited greatly from Green Dot's IPO. GoBank has been available since June of last year, but has not had as big of a marketing partner as Walmart until now.