Walmart to Begin Offering Checking Accounts


#1

time.com/money/3425305/walmart-bank-checking-accounts/


#2

I am not sure how anyone is harmed by having one more choice in the marketplace. I do know that several of my immigrant friends use them to transfer money overseas because they are cheaper than the check cashing places.


#3

They may as well. They cash more checks than all the banks combined.


#4

Loblaw’s (a major supermarket chain) in Canada has chequing and savings accounts, all with the PC (President’s Choice) debit card. They may very well have more banking services, I don’t know.


#5

Not to mention, they will probably do it better than current traditional banks.


#6

This is interesting. I hope that they do well.


#7

I think that it’s a good idea actually, as they already offer many banking-type services as it is.


#8

Sounds like they are heading toward the old “company store” racket that was dismantled years ago.


#9

I don’t see how, after all, nobody is forced to have a bank account with them.


#10

And nobody was forced to shop at a company store either…at first.


#11

So, just how will Walmart force us to use their bank?


#12

They certainly have more convenient hours than regular banks.


#13

I have a cautious ‘wait and see’ feel here.

Many employees I have seen are already so dependent upon their employer for so much more then work that a wonder if they will end up with more dependence.


#14

How would this make Walmart employees more dependent on Walmart?

Unless Walmart forces their employees to use their checking accounts, which I don’t see happening.


#15

Since they can write these checks at any establishment they want your analogy is flawed from the start.


#16

I will stick with my small town credit union. They have fast friendly service and know me so well that I haven’t been asked to show ID in years. I wonder how long you would have to wait in line for a WallyWorld bank?

I have not set foot in Wallmart I haven’t set foot in a Wall Mart for years. Their canned and frozen foods are good. But meat and produce stinks. And the clothes are made cheap and fall apart quickly.


#17

The people who will be getting checking accounts with Wal-Mart would not be accepted by a Credit Union. I am glad you don’t shop at Wal mart-makes the lines shorter for the rest of us


#18

Boy am I far from rich. I have to survive on $700 a month SSI payments due to me being disabled.

I just prefer to spend a little more on longer lasting quality, to buying the same shoddy merchandise over and over at Wall Mart. You save money in the long term that way. And having a limited income. I am all about saving money.


#19

I have never bought shoddy merchandise at WalMart.


#20

Probably no longer than they would have to wait in a regular bank.

I have not set foot in Wallmart I haven’t set foot in a Wall Mart for years. Their canned and frozen foods are good. But meat and produce stinks. And the clothes are made cheap and fall apart quickly.

I have never had a problem with their meat, produce, or clothes.


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