GreenDot Bank is taking deposits from Walmart Cards that now go to GE Capital Bank.
Cardholders whose Wal-Mart Card accounts are acquired from GECRB would have continuous access to their account funds throughout the transition to Green Dot Bank.
Green Dot Bank would expand the features available to Wal-Mart Card cardholders not currently supported by GECRB.
In particular, Green Dot Bank would provide a traditional bill payment feature, in which the cardholder could pay bills via automated clearinghouse fund transfers, and a check-writing feature, in which the cardholder could electronically complete checks that Green Dot Bank would print and mail to any payee designated by the cardholder.
Green Dot Bank is developing additional features for the Wal-Mart Cards, including a budget management feature that would allow cardholders to set aside funds loaded onto the Wal-Mart Card.
