Madeline Aufseeser, senior analyst at research firm Aite Group, said that what makes this unique is that there are lots of features that come with the account.
"It's just a further indication that pre-paid (cards) have gone mainstream," she said.
Wal-Mart and American Express said that more features will be added to Bluebird in the first quarter of 2013. These features will include more options to deposit money and check-writing capabilities.
Bluebird will be available next week at www.bluebird.com and in more than 4,000 Walmart stores.
Shares of Bentonville, Ark.-based Wal-Mart added 13 cents to close Monday trading at $75.26. Shares of American Express, which is based in New York, gained 22 cents to end at $58.78.
Green Dot shares dropped fell $2.618, or 20.3 percent, to close at $10.24.
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