Walmart Targets The Poor With New Checking Accounts

I fail to understand the hatred of Walmart. We have two within reach of where I live. (in Butte County CA. Not the wealthiest county in California). My wife requires prescription meds. I have the Humana Walmart Plan insurance policy. At the regular pharmacies her meds, with that insurance would cost $45 a month. Without insurance, $268. At Walmart, $21. Hence, I go to Walmart monthly. While there I get the Flee and Tick protection stuff for my dog. PetSmart (and others) priced at $45. Walmart $21.75. I bought a name brand 47" and 32" LCD and LED TV there. Saved roughly $300 for the two compared to Best Buy. Household sundries I save maybe 30% compared to the supermarket. Granted, I don't buy clothing or shoes there. Not that I wouldn't...but I still possess some sense of style and quality. In the spring and summer I get potting soil, seeds, plants, tools etc. at a much reduced price compared to nurseries and Lowes and Home Depot. I don't need a computer, but when I do....Walmart. Same comp as anywhere else is $100 less. Toys for the grandkids at Christmas and birthdays are 80% of Toys R Us.

Why wouldn't I shop at Walmart? The employees appear to be as friendly and helpful and happy as any employee at Target or KMart. (those are the only competitors here). Some have worked there for as long as I've been shopping there (12 years?). They can't be all that abused.

Yet, mention Walmart to a liberal and the hair stands up on the back of their neck. But I seriously doubt that everyone that shops at Walmart is a right wing conservative union hating Republican. Most that shop there in fact are probably grateful that there's a place to shop where they can save some of their hard earned money. And a few welfare recipients, single moms etc. You know, the folks so defended by liberals.

 

Your 21 year old helper has a lot to learn about personal and fiscal responsibility.

 

When I visited the U.S. and a lot of my friends were foaming at the mouth with hatred for WalMart, I took a morning and visited a WalMart. I chatted with employees. They all, without exception, had one thing the leftists hate. They had hope. They viewed their jobs as "a start". The leftists like to pretend that when you get a job it's like you've been sent to the Soviet gulag and you'll never get out. My two outstanding chats were with two young men with Down's Syndrome. In the entire city they found only two businesses that would even grant them an interview or accept an application: WalMart and a local grocery chain. Most of the employees I spoke with were middle-aged women on their first paid job, divorced or widowed, with teenaged kids at home. They all had stories about friends who started at WalMart, established a record of responsible conduct, and moved out and up. Some stayed in WalMart and moved up.

I do understand the hatred of WalMart, though. Leftists despise hope. You know, they have a lot invested in convincing people the American dream is dead. Despite their best efforts, it's still alive.

 

Looks like competition in an underserved sector.

Competition is good for the consumer.

 

Seeing how obscenely profiteable banks are, I'd say they're very acceptable risks.

The banks need all the competition they can get.

 

Walmart has had a Money center for years.... they have those greendot Visa's and Bluebird American Express cards, plus they have cashed checks there for as long as I remember.... why are you just now getting offended by it?


Walmart is providing a service that is demanded
Walmart hires more employees to staff the money center
Walmart employees make about what Bank Tellers currently make (they just have crappier hours)

 

a walmart manager at my local store has gauged ears the size of a 50 cent piece.... it's rediculous.... but they hired him anyways and he's worked his way up some. Retail and box store managers make about what beginning teachers make, which isn't bad for the area. Again, their hours are much worse.... but they have a good paying job, without any degree required.

People can hate Walmart all they want, but without Walmart, that kid wouldn't have a job many other places with the holes in his ears the way he does. And whatever job he did have, wouldn't be as well paying a job.

 

hope crushing his credit for that big screen tv and PS4 were worth it he bought trying to impress baby-mama was worth it....

 

I owe my soul to the company store,

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So what is his actual pay. Give us the data.

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What is the interest rate on his card?

 

Here in Colorado, we've seen bank branches in grocery stores, like King Soopers and Safeway, for years. I have never used these branches, but I suppose they're offered as a convenience, and they certainly seem to be popular because there's always people in there -- especially right after payday. My guess is that most of the business they do is in cashing checks. And it probably will be more convenient for low-income people to eliminate an extra, separate trip to go to a bank, especially if they do most of their shopping at Walmart anyway.

At any rate, don't imagine for a minute that banks give anybody a "break" from fees and fluff-charges. Banks have been making money hand-over-fist for the past few years. They're on a roll, and because they're protected from having to compete for deposits by bellying up to the Federal Reserve System's discount bar, they can get all the "bank money" they want without having to offer realistic interest rates for deposits. If you don't believe me, visit the website of any bank and see what interest rate they pay on the various types of accounts, and I blame the Fed for every damn bit of it....

 

I know what Lowes paid.... they paid the dept managers $15-$20 an hour....

that's 31k-41k a year, depending on experience.... I can't imagine Walmart in the area wouldn't be around the same levels.... and considering that kid has to be in his early 20s.... he's gotta be around the lower end of it....

Those are all pretty standard 24%

 

Walmart does check printing services already for a lot cheaper than if you order through a bank. I get my personal and business checks through them and have for about 6-7 years. It is a little cheaper on the personal side, but way cheaper on the business checks.

That said, no bounced check fees won't be a loser for them as long as they do not have over draft protection. So many checks are processed electronically at the register now, they won't have much overhead there. The big question is how long will it be until these banks start offering loans and mortgages.

 

https://www.creditcardinsider.com/i...nd-the-walmart-discover-a-credit-card-review/

And here's some "Low Interest" comparables.

http://www.creditcards.com/low-interest.php

So...pretty much in line with the other low interest credit issuers


And you can also get in store financing with the card with no interest if paid by a certain date.

Walmart credit card special in-store financing:
Pay no interest if paid in full within 6 months on any purchase of $150 – $298.99.
Pay no interest if paid in full within 12 months* on any purchase of $299 – $428.99.
Pay no interest if paid in full within 18 months* on any purchase of $429 – $598.99.
Pay no interest if paid in full within 24 months* on any purchase of $599 or more.

*This offer is valid through December 31st, 2014.

 

but but but.... people WANT to hate walmart. Nevermind ALL the chain stores that compete with them do the same things.


I lol at people crying about Walmart, but then going only to Target, (like they are doing anything different)

 

I view my credit cards as a short term means of paying day to day expenses, both personal and business. I haven't paid a penny in credit card interest since my mid-twenties so I really don't concern myself with rates. For me a good card is one that has generous points I use for airline tickets and upgrades, gift cards, that kind of stuff.

 

And most of the rest of the retail industry will also be in the toilet.....

 

I usually go to the Dollar Store, cause I "don't have to get all dressed up like ya do at Walmart."

 

I've often wondered that as well. I've had a checking out since I was 17, and besides buying checks, I can't recall paying any fee to have the account.

 

OOOOO

your baiting someone to post "people of walmart" pics

 

You read that story too.

 

That would be the logical response.

 

yea... same here.... I didn't have one for years... and I just need to use a CC to improve my credit as I wasn't building / improving any not using it.


I basically use a $200 limit card for gas.... I pay for gas, and pay it off as I touch the limit (I never get to the due date) and then use it for gas some more .


I keep a low limit so I don't get out of my range to pay it off at any time.



I use the Walmart green dot for for online purchases (as opposed to a debit card tied into an account that my saving is attached) I realize, I'm not responsible for fraud if someone drains my savings. The problem is... the inconvenience. If they drain EVERYTHING..... how do I pay for gas and groceries, or lights, or water, while I'm waiting up to a month to get things figured out at the bank. Walmart Visa only has about $20 more on the card than I'm purchasing, so even if it's drained.... I'm out $20, tops.... and Greendot also insures those funds.

 

I like walmart and I think it's a good idea. A lot of people will be helped.

Commies hate walmart. Walmart hires a lot of people "not skinny enough", "not young enough", "not pretty enough" for other businesses to hire. And they kept out the unions.

 

laughed my ass off.

In 2012 my wife and I took a road trip to Red River New Mexico. As a joke, I stopped in every little town along the way and took a photo of the Dollar General, Family Dollar, store we passed. Back home I posted them on Facebook and titled it.
"Ringo & Mrs. Tuna's 2012 Dollarpalooza Tour." Then listed all the little tour stops on the way...Got a lot of WTF's from my FB friends.

 

OK