By slashing the fees of its popular prepaid debit card, Wal-Mart Stores Inc. is making a bid for a wide swath of banks' checking and credit card customers.

The Bentonville, Ark., retailer said Wednesday that it was reducing the up-front, reload, and monthly fees to $3 each for the MoneyCard, which it introduced in 2007.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.