AMEX makes Bluebird a true checking account

Free checks with security authentication, phone deposits, no fees...maybe I'll start to actually use Bluebird as a checking account!

http://www.americanbanker.com/issue...uebird-a-true-checking-account-1057834-1.html

 

It would be cheaper than my WF account right now. Only issue is that there are no Walmarts near me. I'd really like to have one close-by before relying on Bluebird.

 

Interesting. Maybe they will offer a decent amount of points for sign up

 

Bluebird is not a rewards product ... no such points exist.

 

I've used BankDirect as my primary checking account since July 2003, no branches near me. I get the desire to (a) have a branch in order to deposit cash, and (b) to have someone to yell at in person if things get messed up. I'm not so sure how well WalMart functions for (b) in any case.

I do think this is very cool, at a time when many checking accounts require substantial minimum account balances to avoid fees, this is an increasingly valuable product for many in the country... not just for those of us who like funding them with Vanilla Reloads purchased by credit cards.

It seems a genuine service to the previously unbanked, and I wish Amex incredible good fortune with this product since I think they're genuinely in a position to help a lot of people with it (not something you usually ascribe to a banking product...)

 

do you live near a CVS?

 

you get those with the VR's

 

No CVS in Washington to the best of my knowledge.

 

But you do have certain West Coast-oriented grocery chains I imagine? I admit I've never looked! I know that some of the California grocers like the scent of Vanilla..

 

Care to hint?

 

Go to the vanilla reload website, look at the list of places that carry the cards, see what you recognize

 

no WM and no CVS? i though both chains had national outlets

 

There is Walmart. 30 minutes away if traffic is light. I'm pretty sure there's no CVS. I also know of only three McDonald's in the entire city. Seattle is not a place that welcomes chains. We have Walgreens, but they have been asking for debit cards or cash since I can remember. Lately 100% want cash for VR, and they are split 50/50 on whether they want debit cards or cash for a common gift card.

 

"can now place up to $100,000 into their accounts annually. Previously, a customer could only keep $10,000 in an account at any one time."

 

Why would you need a Walmart location? I've been using multiple BB accounts since last August and haven't ONCE stepped into a Walmart. With direct deposit, ACH transfers and billpay, there isn't much need for a physical location. I've been a USAA member for years though, and so I'm used to not having physical branches. If I ever have to deposit cash, I do it at my local credit union and then ACH the money over to where I want it to go.

 

Exactly. They've created a virtual bank that doesn't need a physical presence. You can deposit checks by picture, transfer via ACH, use the debit card at ATMs, and send checks (now even write checks). What else do you need a bank for?

No international ATM fee is really good too - used it in both Germany and China with just a $2 fee since I don't have direct deposit right now.

 

can we transfer more than 5K a month on the VRC?now that the 60K limit is up to 100K?, that would be 8.333K, does anyone know?

 

T&C still shows the same

 

I am seeing the same thing as Servo. T&C still limits funding via VR to 5k monthly, 1k daily.

 

would be nice if they would increase that

 

Will be nice if they increase the limits up.

 

25 according to MickeyD's restaurant finder.

http://www.mcdonalds.com/us/en/rest...h&language=en&primaryCity=seattle&postalCode=

(I think that includes a couple in Bellevue and Renton).

And that's the city that's given us Starbucks. And probably has one at every street corner

 

Is this part of the VR FAQ new?

Swipe your Prepaid Card at Retail:

• 1Bring your prepaid card to one of the Vanilla Reload participating retail locations.
• 2Present your card to the retail clerk and let them know you want to add funds to (reload) your card (* typically a $3.95 fee applies)
• 3The clerk will take your cash, ring up the sale, and swipe your prepaid card
• 4Your card is loaded instantly and ready for use!

 

mitigates the benefit somewhat

 

Well they're supposed to only take cash when buying VRs too but we know that doesn't happen.