Walmart’s Money Centers Draw Americans Away From Banks

Walmart’s Money Centers Draw Americans Away From Banks

Hidden and unexpected fees are causing people to leave mainstream banking for the retailer's alternative services.

Emma Hutchings
  • 14 november 2011

Walmart’s move into the financial services area could help many Americans by providing low-fee check-cashing and other functions that undercut the high, hidden fees charged by a number of mainstream banks. The world’s largest retailer has added Money Centers to more than 1,000 of its stores across the country, where customers can cash work and government paychecks, pay bills, wire money overseas or load money onto a prepaid debit card.

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