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News for American Express’ Bluebird

by Pennie on March 31, 2013

Bluebird just got even better:  American Express and Walmart announced changes to the prepaid card; which will make it safer, make it act more like a checking account, and make it more flexible.

  • Bluebird Accounts are now eligible for FDIC insurance – which was the main drawback for a lot of folks
    • In addition, Bluebird Accounts now have the ability to receive direct deposit of government disbursements, such as social security payments, military pay, and tax refunds
  • The annual card load limit is now $100,000
  • Customers can write pre-authorized checks against Bluebird funds
    • All Bluebird cardholders can get one free checkbook until August; after that, a checkbook is free for direct deposit cardholders and $26 for non-direct deposit cardholders.

With no minimum balance requirements, no monthly service fees and no overdraft fees, Bluebird was already a great alternative to debit and checking accounts.  These changes may just push consumers past the need for old school banking accounts.

 

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{ 1 comment… read it below or add one }

1 Debbie Welchert March 31, 2013 at 6:15 pm

I have never heard of American Express Bluebird before now. It sounds great. I really like the no monthly service fees and no balance requirement is great.

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