American Express (NYSE: AXP) and Wal-Mart Roll (NYSE: WMT) Out Improved Stored Value Debit Cards

Low income consumers without bank accounts have been charged exorbitantly high fees by banks and other financial institutions to put cash onto “stored value” credit cards, but now Wal-Mart (NYSE: WMT) and American Express (NYSE: AXP) are hoping to provide low income customers a lower-fee choice for stored value cards. Wal-Mart has slowly rolled out its “money services” at its stores over the last several years by offering some low cost financial services such as money orders, money grams, and