It used to be that the JPMorgans of the world only worried about losing customers to Wells Fargo or Bank of America. But that universe of competitors has grown to include T-Mobile, Wal-Mart, Google and a host of other retail, tech and telecom companies that are now operating like banks. The biggest game-changer for traditional banks is Wal-Mart's incremental expansion into consumer banking. The world's largest retailer has rolled out everyday low prices on check cashing, money-transfer and checking accounts in the last few years. When Wal-Mart teamed with American Express to launch the prepaid Bluebird card as a low-cost alternative to checking accounts, the pair attracted one million customers in less than a year.

http://m.washingtonpost.com/blogs/wonkblog/wp/2014/05/27/how-wal-mart-and-google-could-steal-young-customers-from-traditional-banks/