Wal-Mart Stores Inc. plans to begin offering checking accounts by the end of next month that doesn’t charge overdraft fees, in contrast to the independent banks currently housed within the retail giant.

The world’s largest retailer and partner Green Dot Corp. are planning a national rollout of the checking account service that will be called GoBank. Green Dot, through its Green Dot Bank, is big provider of prepaid debit cards—including Wal-Mart’s.

In addition to touting lower costs, the GoBank mobile checking service will provide access for customers that may not typically have access to banks. GoBank won’t use credit scores in determining eligibility, but it instead plans to use its own proprietary underwriting methods to allow just about any customer that passes ID verification to open an account.

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