Walmart Supports Unbank Users in Ame...

Walmart Supports Unbank Users in America

Posted in the Austin Forum

amandacares

Rockport, TX

#1 Feb 1, 2013
Why American Banks are in distress, Walmart encourag 17.7 million "unbanked" adults -- and likely more since banks began raising checking account fees. Wal-Mart sees a golden opportunity.
The mega-retailer announced this week that it will cash more types of preprinted checks, including those for 401k's, student loans and rebates. A Wal-Mart store is preferable to those check-cashing places with bulletproof glass and large, percentage-based fee.
It can draw in more check-cashing customers who can spend at its stores. It can encourage those customers or illegal customers to load cash onto its prepaid cards, which can be used at its stores and elsewhere. And it can earn fees when customers use the prepaid cards.
The check-cashing fee at Wal-Mart is only $3 for checks up to $1,000, and it's twice that for checks up to $5,000. Banks document the transaction does Walmart?

Tell me when this thread is updated:

Subscribe Now Add to my Tracker

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

Austin Discussions

Title Updated Last By Comments
Election Who do you support for State Board of Education... (Oct '10) 1 hr Huh 939
black Mon Fart farts 9
Where is Charlie brown ? (Nov '14) Mon Released farts 38
Charles "Black"son in "brown"town Mon Earlier farts 12
Great tar in Austin for cheap (Jan '14) Jul 26 Catching farts 12
Flaco Jimenez, Santiago Jimenez Jr and Los Texa... Jul 26 Music farts 2
News Chuy's Mexican Restaurant opens first El Paso r... Jul 25 Farting now 25
More from around the web

Personal Finance

Austin Mortgages