People are using these cards to cash their government checks, especially fraudulent tax returns.
You are entirely correct. I was about to go out and research the issue for a response then I saw yours. It’s late, I’m tired and ready to rack it.
Scoff if you will, but you must admit, whatever Wal-Mart does, people flock to it...
Dayum, I just happened to think-we haven’t had a good Wal-Mart thread here on FR in what seems like centuries!
I've had one for about a year and have not paid a penny in fees.
Prepaid cards are a cash cow
My guess is the bank will be more than happy to get rid of the low value accounts. They raise fines and the people are still to stupid that the bank doesn’t want them there anymore.
Better off going to a credit union and getting a dividend.
Moving it to Walmart would give PT Barnum a chuckle.
I LOVE credit cards, Chase is great, They pay me cash back for using the card and give great customer service.
The trick is to not buy things unless you have the money for them already, as with a debit card
I have a walmart prepaid card..
not because I have to. I want to.
Why? I have not paid 1 penny in unexpected fees and only 10 bucks in expected fees over the past year. I have not overdrawn the account because I am not paying attention. it’s accepted everywhere. Easy to manage.
Wellsfargo.. They where nailing me 10 bucks a month just to have their account and god forbid I hit -0.01 I think it was 35 bucks!
Only thing I wish my walmart card would do is allow me to deposit checks.
I will be getting the new bluebird card as it allows this for free. My wife’s US bank account charges her 50 cents for that.
a little ironic don’t ya think? after all it was documented that AMEX was reducing credit lines for customers that shopped at WalMart. I guess there’s now a special card for them.
personally i would not patronize either establishment.
so, china no longer has to give us trinkets to get our cash... now we’re supposed to just hand it all over to them with nothing in return??
yup.. sounds like something the libs would dream up
Walmart is the biggest and best company in America.
They teamed with American Express to out flank the banks and take care of their customers. The card is a letter of credit and is form of the ancient device writ modern
Remember...... in the current century, all money is actually blips on an electronic ledger. The card is a blip containment device
From my lips to God's ears.
It’s like a big chess game. ;-)
BTW, if you have bad credit it is difficult to get a checking account even if you have a job. Those people will jump at this.
I suspect the “check cashing” places will get hammered by this. The poorer you are, the more credit costs you. And you drive a beater car that nickels and dimes you.
I’ve said for years that it is very expensive to be poor in the US. Wal-Mart and Amex just made it cheaper.