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09/02/2021

Walgreens launches Scarlet bank account, Mastercard debit card

Available exclusively at Walgreens, Scarlet bank accounts and Mastercard debit cards will offer 3% Walgreens Cash rewards for Walgreens purchases.
David Salazar
Managing Editor
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Walgreens is introducing Scarlet, a bank account and Mastercard debit card provided by the company’s partnership with InComm Payments and available exclusively at the retailer. Scarlet debit cards are issued by MetaBank and the service will be available at more than 9,000 Walgreens stores, as well as online and via the Walgreens mobile app. 

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“With a focus on our customers’ health and wellbeing, Walgreens is pleased to expand our financial services offerings with Scarlet, and further expand the broad spectrum of financial solutions that are accessible to the customers, patients and communities we serve,” said Maria Smith, vice president of payments & financial services at Walgreens. “Scarlet is just the latest expansion in the Walgreens financial services portfolio, which also includes the Walgreens mobile wallet, remittance services, ATM, third party banking services and the recently launched myWalgreens Credit Card. We look forward to deepening engagement with our customers, as we continue to support their personal and financial wellbeing.”

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Walgreens said Scarlet is designed to help users build healthy financial habits and earn rewards while saving on future purposes. Account holders will earn 3% Walgreens Cash rewards on Walgreens purchases, as well as 1% Walgreens Cash rewards on purchases wherever Master-card is accepted. The bank account also features the ability to set up online or mobile bill pay and compatibility with mobile wallets, as well as mobile check capture via Ingo Money and the ability to send money for free to other Scarlet account holders. 

Other features include free two-day early direct deposit, the ability to add cash at Walgreens and Duane Read locations with Barcode Reload and free withdrawals at more than 55,000 ATMs. Through Sept. 30, the company is offering a $10 statement credit for the first $10 spent. 

“We are proud to bring Scarlet exclusively to Walgreens,” said Stefan Happ, President of InComm Payments. “With Scarlet, we are excited to provide Walgreens’ customers with banking and financial management solutions through Scarlet to help make financial wellness habits more convenient and accessible than ever before.”

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Scarlet’s launch follows the recent introduction of the myWalgreens credit card, as well as the myWalgreens Mastercard, for which the company introduced in partnership with Synchrony Bank. Like Scarlet, those financial service offerings include opportunities for cardholders to earn Walgreens Cash rewards. For the myWalgreens card, the retailer also emphasized integration with its app, which received an overhaul last fall when Walgreens introduced the myWalgreens loyalty program. 

“The launch of Scarlet speaks to a continued desire and demand from consumers for seamless and accessible financial experiences,” said Kush Saxena, executive vice president, U.S. merchants and Acceptance at Mastercard. “We are pleased to deliver our technology and healthcare expertise to deepen Walgreens’ commitment to providing more relevant and personalized solutions for cardholders at Walgreens and beyond.”

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