OREANDA-NEWS.  September 26, 2014. Green Dot Corp. (NYSE: GDOT) and Walmart (NYSE: WMT) today announced the nationwide rollout of GoBank, a checking account product available exclusively on the retailer’s shelves.

The checking account, from Green Dot Bank, Member FDIC, is designed for today's "on-the-go" customer, providing a host of modern features and a linked MasterCard debit card.  GoBank doesn’t charge overdraft fees, minimum balance fees or monthly fees with qualifying direct deposits. The product will be available nationwide by the end of October.

“Many so-called ‘free’ checking accounts aren’t really free because they have high overdraft fees. In fact, an independent study by Bretton Woods estimates that consumers pay approximately \\$218 - \\$314 per year for a basic checking account,” said Steve Streit, founder and CEO of Green Dot Corporation and chairman of Green Dot Bank. “No other checking account makes it this easy and affordable to manage your everyday finances. GoBank is breaking down the barriers to traditional banking and brings the benefits of a FDIC-insured checking account that’s loaded with features to a large segment of Americans.”

GoBank, a full-featured checking account, is offered as part of Walmart’s checking alternatives category.

“Walmart customers want easier ways to manage their everyday finances and increasingly feel they just aren’t getting value from traditional banking because of high fees,” said Daniel Eckert, senior vice president of services for Walmart U.S. “Adding the GoBank checking account to our shelves means our customers will have exclusive access to one of the most affordable, inclusive and easy-to-use checking accounts in the industry.  GoBank gives our customers yet another option as to how they manage their money.  When our customers have options, they win.”