Arkansas Blog

"This the free market at work. Just don't confuse it with charity."

Does it spend the same?

It may be the free market, but you have to wonder when these monopolistic policies will get WM into trouble

Well, WM needs to take the position of Exxon and charge the poor to the hilt and get no flack. Or even do away with their $4.00 generic program. Does anyone make the low income people use the service?

As of today Wal-Mart employees that do not have direct deposit will no longer be paid by check. Instead they will be issued a "debit card" that can be used at any location accepting Visa debit cards.

WM will find some way to stick it to the employes. Not letting them get a full 40 hrs, if you are lucky to have what they call fulltime. All the others get as little as 15 per week. And the pay sucks. goodluck WM good luck when the unions come in.

This is a fantastic service and one which Wal-Mart is well-positioned to provide. Just like their check cashing services (that charge up to a $3 fee, instead of the $40+ fees that payday lenders, pawn shops and other check cashers charge), this provides an alternative to high-fee predatory practices that low-income working families are often left with for options.
Hate Wal-Mart for other issues all you want, and by no means call it charity, but I for one applaud them for doing good in addition to doing well for themselves. This is a value added service that provides options to those who need them most.

I apologize for being a little behind the times here, but can you get cash from that Visa debit card Wal-Mart is using to pay some to their employees? If not, it seems like that would present a problem when the kiddies held out their little hands. For that matter, my husband always had his hand out too after I got in from the bank.
Then again, isn't it cheaper to have a checking account rather than paying multiple fees for cashing checks and paying bills. Of course, you do need $100 or $200 to open an account and maybe have to leave that much in it all the time to avoid checking fees. I suppose it would be hard to accumulate that if you had to "spend" your pay through a Visa debit card.
Now the direct deposit situation I saw a friend endure a few months ago had its faults. Her money usually did end up in her account on the appointed day. However, since her pay and reimbursement varied dramatically from week to week, she had to call the bank to see how much the deposit was, but wait several weeks for the direct deposit equivalent of a pay stub.
And lastly, the question I must know the answer to: How is Wal-Mart making any money by advancing -- lending -- holders of their credit card up to $50 or $60 a day (with a fairly small credit card purchase) but charging no fee, and no interest if you pay off the bill every month? There is something I don't see here.

Ah, the joys of high finance . . .