Current and future banking options at Wal-mart

We’ve had some discussion here at DC Metblogs about the Maryland legal brouhaha over Walmart and their providing (or not) of health insurance. In fact that might have been one of the most commented-upon posts of January, so I know it’s a subject of some interest to our readers. Well, today brings us a Washington Post Business section article about Walmart’s interest in entering the banking market. This is a subject near and dear to my heart since it touches upon on of the things I loathe most in life: bank fees

The article quotes Charles Fishman, who speculates on the impact Walmart’s entry into banking would have: “I’ll bet ATM fees would come down pretty quick.” I think that’s a fair bet. In the Walmart near me there’s a kiosk I noticed last month when returning something. It’s somewhat off to the corner, but it’s got five main offerings on this banner over the top of it. The no-fee ATM makes sense – get some money and spend it there. What about the money order purchases, though? I punched up one just to see how the fees compared and this is what I got.

At $0.46 that’s less than the $0.95 you’ll pay at the US Post Office, a place that has much shorter hours and almost always has longer lines. So if you’re looking for a money order you can’t find a fee-free PNC ATM, you may want to check your Walmart.

3 Comments so far

  1. wayan (unregistered) on February 12th, 2006 @ 8:27 pm

    I’ve never understood ATM fees, or why folks pay them. The average fee $2 on the average withdrawal $20 is a 10% fee to get your own money.

    Me, I don’t pay them at all – I have a brokerage account, not a bank account, and I use bank tellers, those odd humans actually inside the bank. I even talk to them – archaic, eh? And free as well as always pleasant. Last but not least, I don’t take out $20 at a time. $20 doesn’t cover one purchase today. I get out $1,000 at a time, in $100’s and pass ’em out pimp-style.

    Others could just use PNC for fee-less ATM’s or ATM’s in the Metro for convenience.

  2. Don (unregistered) on February 12th, 2006 @ 10:45 pm

    Here’s hoping the muggers aren’t reading this post and the one about where you’ll be tomorrow evening…

  3. Karlik1 (unregistered) on March 3rd, 2006 @ 7:50 pm


Terms of use | Privacy Policy | Content: Creative Commons | Site and Design © 2009 | Metroblogging ® and Metblogs ® are registered trademarks of Bode Media, Inc.