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Walmart, Amex Roll Out New Prepaid Card

• lutusp 14y ago
  > The company said the card is an “alternative to debit and checking accounts” and will be available next week online or in more than 4,000 Walmart stores. This proves that cash is dead. The product is in most respects indistinguishable from cash, with the difference that it can only be spent in one place. Now the fun part: > Walmart and American Express announced Monday morning that they would make available a reloadable prepaid card for consumers tired of banking fees. Claim: prevents banking fees. > There is no fee to set up the card online at Bluebird.com but there is a $5 fee for an account set up kit at Walmart stores... Contradiction: involves a banking fee. I have just one question -- if someone steals your card, can they use it? If so, then it really is indistinguishable from cash. What's wrong with cash?
  • 27182818284 14y ago
    They see that as a purchase or startup fee rather than a banking fee. When they say no banking fees they probably mean the fees that traditional banks nickel and dime people with like monthly maintenance fees. It lets them slime their way to a holier looking position in the press releases.