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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