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
Nudist Resorts Celebrate the 31st Anniversary o... (Jul '06) 5 hr elmer 3
Indian Atomic Weapons are Unsafe: & can be take... (Jan '10) 5 hr elmer 30
600 Wins For Barnes WOW! Tue Old Lady With A Bat 13
Aaron Smith Mar 1 Creech 1
Looking for Bars,/similar to help w/ bad anxiet... Feb 26 Longhorn32 19
Same-sex couple marries in Texas under one-time... Feb 25 Pope Nosferatu s ... 10
Recent editorials from Texas newspapers Feb 24 Belle Sexton 1

Winter Storm Warning for Travis County was issued at March 04 at 3:02PM CST

Austin Dating
Find my Match
More from around the web

Austin People Search

Addresses and phone numbers for FREE

Personal Finance

Mortgages [ See current mortgage rates ]

NFL Latest News

Updated 8:04 am PST

NBC Sports 8:04AM
Andre Johnson asks Texans to release him
ESPN 9:10 AM
Agent asks Texans to release WR Johnson
Bleacher Report11:48 AM
Chris Myers to Be Released by Texans: Latest Details, Comments, Reaction
Yahoo! Sports12:24 PM
Cowboys re-sign RFA WR Beasley
ESPN12:40 PM
Texans cut stalwart center Myers, save $6M