What is Bluebird by American Express?
Bluebird by American Express is a prepaid debit card and accompanying mobile app that provides an alternative to traditional checking accounts. It was launched in 2012 as a collaboration between American Express and Walmart.
Some key features of Bluebird include:
- No minimum balance requirements or monthly fees
- Free online bill pay and money transfers
- Mobile check capture - users can deposit checks by taking a photo through the app
- In-network ATM access for cash withdrawals and balance checks
- Digital peer-to-peer payments through the app
- FDIC insurance on balances up to $250,000
Bluebird is targeted towards unbanked or underbanked consumers who may not have access to or qualify for traditional bank accounts. By providing modern capabilities through digital channels, Bluebird offers an alternative way for these consumers to securely manage money.
Some downsides are that Bluebird doesn't currently offer checks, has a $100 per month cash reload limit, and charges out-of-network ATM fees. However, the convenience and mobile functionality of Bluebird is often seen as a flexible alternative to checking accounts.