When you think of Walmart, I'm sure that all aspects related to retail will spring to mind. There's no doubt as to why this is, since Walmart is easily one of the most recognizable outlets for any and all types of goods, grocery or otherwise. However, as it stands, the popular retail outlet will be getting into the financial sector with an endeavor known as GoBank. For those who are curious as to what this is all about, Bob Jain may be able to offer information.
It's recently been reported that Walmart will be offering its consumers a checking account system with seemingly low rates compared to competitors. The way that this system will be done is through GoBank, which - according to Walmart - will not hinder clients with overdraft fees or even high fees in general. It's a strong talking point, to say the least, and it's one that should drive current Walmart customers. However, there are a few details for the inquisitive audience to focus on as well.
If you'd like to know about some of the deeper cuts of this checking system, Yahoo! Finance covered them in detail. For one, in order for a consumer to receive a starter kit from Walmart - the kit in question includes a single debit card - he or she would have to pay $2.95 upfront. This is not all, though, since Walmart will also require a minimum $20 balance to be deposited once the account is open. With these costs in mind, can a system like this prove be worthwhile?
I believe that Walmart's GoBank endeavor has a few aspects working against it, one of them being the fact that the system itself is relatively new. People may look at this with hesitation, since no one wants to be the guinea pig when trying out the new proverbial toy. Bob Jain may also cover the idea that there are other options out there, those which are more established by comparison. Competition will be fierce, in the financial realm, and authorities like Robert Jain Credit Suisse will not disagree.
Even if these prove to be deal-breakers for some, they may not be tremendous deals to others. In a case like this, I believe that it is important to wait and see what others have to say about the system in question. Keep in mind that there will be reviews on all types of financial pieces, whether they are related to banking or not. Walmart's GoBank endeavor will be no different, so it's wise to wait and wait for critiques before any kind of investment is made in this system.
It's recently been reported that Walmart will be offering its consumers a checking account system with seemingly low rates compared to competitors. The way that this system will be done is through GoBank, which - according to Walmart - will not hinder clients with overdraft fees or even high fees in general. It's a strong talking point, to say the least, and it's one that should drive current Walmart customers. However, there are a few details for the inquisitive audience to focus on as well.
If you'd like to know about some of the deeper cuts of this checking system, Yahoo! Finance covered them in detail. For one, in order for a consumer to receive a starter kit from Walmart - the kit in question includes a single debit card - he or she would have to pay $2.95 upfront. This is not all, though, since Walmart will also require a minimum $20 balance to be deposited once the account is open. With these costs in mind, can a system like this prove be worthwhile?
I believe that Walmart's GoBank endeavor has a few aspects working against it, one of them being the fact that the system itself is relatively new. People may look at this with hesitation, since no one wants to be the guinea pig when trying out the new proverbial toy. Bob Jain may also cover the idea that there are other options out there, those which are more established by comparison. Competition will be fierce, in the financial realm, and authorities like Robert Jain Credit Suisse will not disagree.
Even if these prove to be deal-breakers for some, they may not be tremendous deals to others. In a case like this, I believe that it is important to wait and see what others have to say about the system in question. Keep in mind that there will be reviews on all types of financial pieces, whether they are related to banking or not. Walmart's GoBank endeavor will be no different, so it's wise to wait and wait for critiques before any kind of investment is made in this system.
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