American Express and Walmart have announced that, beginning next week, they will jointly offer Bluebird, a banking service that promises rich features for no monthly fees, no minimum balance and no overdraft fees.

The collaborators said in a statement that the product – which will be available at some 4,000 Walmart stores and also online – is aimed at “tens of millions of consumers” who want advanced banking services but do not want to pay high fees.

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