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Bluebird’s Appeal Seen as Limited

Bluebird, the new prepaid card product being rolled out by Walmart and American Express, will provide banks and credit unions with additional competition in transaction accounts and technology.

By David Morrison | Updated on October 22, 2012
Bluebird, the new prepaid card product being rolled out by Walmart and American Express, will provide banks and credit unions with additional competition in transaction accounts and technology.

Ben Rogers, research director at the Filene Research Institute, said the new card will play on some consumers’ desire to unbundle their financial lives and relationships instead of having them all in one place. It will also appeal to consumers who have either had difficulties opening checking accounts in the past, dislike checking account fees or like the additional technological tools Bluebird offers.

“If you are someone who has had a problem opening a checking account in the past, maybe because of a hit on Chex Systems, or if you have had bad experience with overdraft fees or really anything, Bluebird might seem appealing,” Rogers said. He added that Bluebird might spur both banks and credit unions to look at how they offer transaction services, including ease of use and price.

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