Big Banks vs Walmart. Hard to decide which one I'd rather see go down in flames on this topic.
Walmart checking accounts annoy banks who feel a threat to high fees
Walmart wants to get low-income people into its stores by offering checking accounts. It’s made an enemy of banks, who want the retail giant off their turf Credit unions prosper as banks turn their backs on more Americans
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On this one, I side with Walmart. They're evil but, regardless of their self-interest, their mere entry as a competitor might force banks to be just a bit less predatory or apathetic about less wealthy customers.
+Gary Roth You're probably right. On the other hand, wonder how minimum wage bank associates will work out for them.
"There is one catch: if customers don’t deposit at least $500 a month, there will be a monthly $8.95 fee." …For their target demographic, that's a pretty hefty catch. Most would still be better off with a Credit Union, or even, quite probably, no banking at all.
+Kingsley Lintz while true, more competitors is typically good for consumers.