Skip to comments.Walmart Targets Unhappy Bank Customers With New Prepaid Card--Should Big Banks Be Nervous?
Posted on 10/09/2012 8:54:11 PM PDT by TArcher
Walmart wants to be your new banker.
Walmart launched Bluebird, an alternative to debit and checking account. Should banks be nervous?
Today Walmart announced an alternative to traditional debit and checking accounts in partnership with American Express. The Bluebird accounts target consumers who are fed up with increasing fees from traditional bank accounts.
The Bluebird accounts will have no minimum balance requirement and no monthly maintenance, annual or activation fee. Customers can access their money for free using one of 22,000 American Express MoneyPass ATMs, but will be hit with a $2 fee if they are not enrolled in direct deposit...
(Excerpt) Read more at forbes.com ...
Wal-Mart China sees second Party branchCategory:[world] [CHINA] [Regional]
SHENYANG -- A second outlet of the world's largest retailer, Wal-Mart, has seen the establishment of a branch of the Communist Party of China (CPC) in Shenyang, capital of northeast China's Liaoning Province.
Following the establishment of the CPC branch in the Shenyang Wal-Mart Department Store on August 12, another CPC branch was set up in the Taiyuan Road Wal-Mart store on August 18, Wang Jing, head of the Publicity Department of the Heping District Committee of the CPC, said on Friday.
The Taiyuan Road store had three CPC members, Wang said, without elaborating on the establishment of the CPC branch.
A local CPC committee official announced on Thursday that Party and youth league branches were established in the Shenyang Wal-Mart Department Store on August 12, along with a trade union, giving employees access to CPC membership....
"and youth league branches were established in the Shenyang Wal-Mart Department Store on August 12, along with a trade union, giving employees access to CPC membership"
Trade union? In a WalMart store? LOL. Rut ro, Ansel12 head explosion cleanup on aisle twelve!
The Durbin Amendment to the Dodd-Frank Act sets prices on interchange fees. Wal-Mart avoids these price controls because its new product is not called a debit or cash card. It is being handled by American Express as if it were a Travelers Check. Presumably, by using this technique, Wall-Mart avoids Durbin and it can receive whatever commission American Express chooses to pay on these cards.
Meanwhile, it's a fact that Walmart derived additional significant benefit from its lobbying for the Durbin Amendment / Dodd-Frank Act:
"Walmart will save billions of dollars due to the Durbin legislation"
Bracky Obama signed the Dodd-Frank act on July 22, 2010.
Is your monetary support of Bracky Obama(D), Barney Frank(D), Chris Dodd(D), and Dick Durbin(D) -- leftist or rightist?
You are acting like a troll. Ansel is probably right, you are probably retreaded.
Yep, America loves them, but the left hates them, and does not even allow them in many major cities in the nation where you union people are strong enough to pick and choose who can sell groceries in America.
Not union, never union. But I do know quality of life when I see it. Whether I pay less for cheap product and more in taxes to support the devestation and life quality, or pay more for quality product and less in taxes and better life quality, I always vote for less taxes and more life quality.
Some people bm in their soup, I dont.
>>WHO CARES if the Chinese are left or right?
Evidently none of the Quislings doing business with the Communist oligarchs in the CPC Central Committee.
>>This is a thread about WALMART.
Walmart will save billions of dollars due to the Durbin legislation
Bracky Obama signed the Dodd-Frank act, including the Durbin Amendment, on July 22, 2010.
Is Walmarts symbiosis with Bracky Obama(D), Barney Frank(D), Chris Dodd(D), and Dick Durbin(D) leftist or rightist?
You are definitely a retread troll.
First, I will answer your question.
Then, I will work to see you banned.
Okay, this one is easy. You look like a fool for postulating it.
'Symbiosis' is defined as -- in the non-biological sense -- as ' a cooperative relationship (as between two persons or groups).
While Dodd-Frank has provided a way for ANY savvy retailer to make money, there is ZERO indication Dodd-Frank was aimed at Walmart.
And given Walmart's right-of-center founder's leanings, there is ZERO indication Walmart either supported or influenced Dodd-Frank in any meaningful way.
Your tenuous and suspect 'linkage' -- a savvy business found a way to make money in the current financial landscape -- is clearly not intended to add to the discussion. Your thesis, based on two unsupported and untrue premises, is meant to cloud discussion and muddy waters.
You are on a Walmart bashing tear in general, and an ansel12 bashing tear in particular.
We are conservatives. We don't bash Walmart for being savvy.
You are a troll.
Can i help, huh, can I help? Please can I ?????? LOL!
I have to agree with you - definitely a retread troll.
Seemingly a left-oriented troll, from my observation of him or her, here.... but I haven't checked the history yet.
Definitely has tangled with ansel12, but who hasn't. I know I have.
Still, as much of a dweeb as ansel12 is, he is OUR dweeb, and I cover my people's backs.
They are able to do this because the merchant pays higher fees when they process a transaction using a 'rewards' card. These fees are passed on to the consumer with higher prices.
I won’t pay $2.29 for Tabasco sauce at Albertsons when a better store sells it for 99 cents, and doesn’t feed the corrupt union political machine with what amounts to your political donation.
You despise WalMart, and I despise Albertsons.
I can see the corruption and theft of Albertsons when I enter the store, I see it in their complicated use of odd numbers and pricing to baffle the person attempting to buy in quantity, I see it in the 100% and 200% mark-ups on everyday items like Oscar Meyer wieners and Tabasco sauce, and pasta and rice, and Betty Crocker brownie mix.
I am not here to subsidize Albertsons and Safeway and to fight against them having to face the market forces that my business does.
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
Except in the far hinderlands, mom and pop stores are archaic relics, obsolete.
Even in the walmartless extreme boondocks, mom and pop are out gunned and outclassed by Dollar and Dollar general stores.
The Yankeeland union dominated Walmartless cities are all failing anyway. There is no need to try to fight a strong outgoing tide of political ideology
TArcher and his hate of my favorite grocery store seems a little extreme (lol).
One of the problems of the internet is when you are casually posting a response in what looks like a normal exchange, and then too late you realize that the stranger you just posted to is one of those wide-eyed, screaming fanatics on some weird cause, a true believer in the ONLY SINGLE TOPIC IN THE UNIVERSE, IT IS A CONSPIRACY, ALL COMMUNICATIONS WILL NOW BE SHOUTED AT YOU, YOU!!!!!!!!, A NON-BELIEVER!!!!!!YOU MAY EVEN BE PART OF THE CONSPIRACY!!!!!ABOUT THE ONE SUBJECT THAT THE SURVIVAL OF THE HUMAN RACE DEPENDS ON!!!!!
You and I have had words, but it's like brothers who fight, in a family. Someone comes from outside the family and we are all shoulder to shoulder against them.
In short, you're a jerk, but you are OUR jerk. :)
So like a troll.
You despise WalMart, and I despise Albertsons.
I dont despise anything. We do not have union workers in our stores here and the markeups are not that bad. And the quality is as good and usually better.
Where do you live that stores don’t have unions?
By the way, many millions of us live in major cities where WalMart is not allowed to sell groceries to us.
>>there is ZERO indication Dodd-Frank was aimed at Walmart.
Specifically, retail stores, led by Wal-Mart and Home Depot, spent more than $40 million in 2010 employing 411 lobbyists. In addition, their employees, lobbyists and PACs donated millions of dollars to key lawmakers.
What were those $40 million and 411 lobbyists aimed at?