The Bankwatch

Tracking the consumer evolution of financial services

The Walmart as a bank story returns

The Walmart plans that caused all the stir 4 years ago is resurfacing in a different form as they increase their ownership in a small bank.

Walmart extends its banking interests |

Green Dot, which provides support for Walmart’s pre-paid cards, said this month that it had issued more than 2m shares to Walmart, following an agreement in May that extended the existing alliance between the companies until 2015.

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Written by Colin Henderson

June 15, 2010 at 21:06

Posted in Uncategorized

5 Responses

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  1. Colin, it feels like I just stepped in a time machine.

    Trey Reeme

    June 15, 2010 at 23:21

  2. @Trey … I felt exactly that!

    Colin Henderson

    June 16, 2010 at 23:29


    Walmart has been in “banking” for a while now, and quite successful at it.

    Might not match 100% your definition of “banking” (checking accounts issued at places called branches), but to the customers it serves, it’s certainly a “financial” service.

    Ron Shevlin

    June 17, 2010 at 11:00

  4. Thank you Ron for bringing us back from outer space 🙂 it just feels like they have been under the radar since the uproar in 2006.

    Colin Henderson

    June 18, 2010 at 12:51

  5. The happenstance is uncanny: Filene is just now editing a report from Dr. Bob Manning about Walmart’s Mexican bank and what it portends for the U.S. market. Anybody wants a draft copy, shoot me an email.

    Ben Rogers

    June 28, 2010 at 09:44

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