Terrible WalMart ad

**Broken Arrow** · 08-25-2009, 05:55 AM

Yeah, that's bad form. I mean, I know who they're targeting with ads like that, but still....

**Joan.of.the.Arch** · 08-25-2009, 05:55 AM

Oh, I've been meaning to post about Wal-Mart's advertising for check cashing services. All of a sudden, they have taken out ads on smaller, less prominently placed billboards. That means closer in to the neighborhoods rather than on main thorough-fares, about the same places where advertisements for liquor and usually appear. There was a time when Wal-mart did not even establish stores near cities, now they are going for those in the city whose ability to go shopping may be a one-shot deal per month. There are still no Wal-Marts in the city, but at least they are now in the near, older suburbs where a bus or train can let you out at the street-side end of their gigantic parking lot....Interesting marketing there. They know surely what they are doing, but that TV ad you saw would bother me, too.

**KTP** · 08-25-2009, 07:14 AM

Compared to the cash for clunkers program which is advertised EVERYWHERE (though I guess it is over now), this is hardly a terrible ad. On the one hand you have someone cashing a government check for a reduced fee, on the other hand you have car dealers and the government putting people in a new car saddled with new debt that they can't afford. And they are using our money to do it.

bad bad walmart, good good USA government?

(walmart is in my portfolio, so I may be a bit biased)

**Joan.of.the.Arch** · 08-25-2009, 07:34 AM

Reduced fee as compared to what? I still think direct deposit for government checks into non-fee charging checking accounts is possible. Debit cards linked to the account keep the account holders from ever even having to go to the bank.

**Cassandra** · 08-25-2009, 08:35 AM

I've been seeing those ads for awhile. All of the Walmarts here are open 24/7 and I'm pretty sure they offer the cash checking services 24/7 also. They do this to cater to the casino workers who end up sleeping during the 9-5 that the regular banks are open.

**disneysteve** · 08-25-2009, 09:16 AM

Originally posted by Cassandra View Post

I've been seeing those ads for awhile. All of the Walmarts here are open 24/7 and I'm pretty sure they offer the cash checking services 24/7 also. They do this to cater to the casino workers who end up sleeping during the 9-5 that the regular banks are open.

Who needs a bank? I never go to a live teller to process my paycheck. I just deposit it at the ATM, which I can do 24/7. I guess these services mainly target folks who live paycheck to paycheck and don't, for some reason, have a bank account.

**Broken Arrow** · 08-25-2009, 09:51 AM

Originally posted by disneysteve View Post

I guess these services mainly target folks who live paycheck to paycheck and don't, for some reason, have a bank account.

Uh yeah, that's exactly it.

I think there is also a segment of the population who are financially-challenged, and many of them don't even have a checking account. They operate solely on cash, and the only thing they need any kind of banking services is to cash their checks.

Interestingly enough, many places can provide that check-cashing services, not just banks. But now, Wal-mart is offering a highly competitive deal for that same service, all the while offering them a convenient place to spend that newly-cashed money, all in one place. This is why it's so clever for Wal-mart, even if they offer the check-cashing at a loss.

And yes, it's almost appalling that there are people who don't even have checking accounts and pay even more to cash checks, but... they're out there.

**disneysteve** · 08-25-2009, 09:57 AM

What bothered me wasn't that WalMart was offering this service. Hey, if they will do for $3 what others charge $8 for, that's great for the customer. What got me was the implication that the customer should then use the savings to buy some luxury item. If the commercial would have shown them buying groceries with the extra money, that would be great. Showing them with a new flat screen TV, not so great.

**Broken Arrow** · 08-25-2009, 10:10 AM

Oops! Yeah, that's basically what I meant as well, Steve.

I've added a small clarification to my previous comment.

**Cassandra** · 08-25-2009, 03:33 PM

Originally posted by disneysteve View Post

Who needs a bank? I never go to a live teller to process my paycheck. I just deposit it at the ATM, which I can do 24/7. I guess these services mainly target folks who live paycheck to paycheck and don't, for some reason, have a bank account.

But most banks require you to go down in person to open an account with them. Which a lot of the workers here can't do because either they are sleeping through the day because they work the graveyard shift or they are working and might not be able to take the time off to go to the bank to open an account.

But I do agree with you about the ad implying that they should buy something they want with the saved money not something they need.

**cptacek** · 08-25-2009, 04:32 PM

Yes, and the illegal aliens can get their checks cashed too without having to open an account.

**disneysteve** · 08-25-2009, 04:58 PM

Originally posted by Cassandra View Post

But most banks require you to go down in person to open an account with them. Which a lot of the workers here can't do because either they are sleeping through the day because they work the graveyard shift or they are working and might not be able to take the time off to go to the bank to open an account.

Good point, but those folks could probably open an account online that reimburses for ATM fees. I don't know if there is any banking task that must be done in person today.

**cptacek** · 08-25-2009, 05:24 PM

Originally posted by disneysteve View Post

Good point, but those folks could probably open an account online that reimburses for ATM fees. I don't know if there is any banking task that must be done in person today.

I think that due to the Patriot Act, you have to open an account face to face, with applicable documentation/identification. In my experience, the online ones usually link to one that is already existing, so they piggy back off of the first bank doing the security for them.

**asmom** · 08-25-2009, 06:11 PM

Originally posted by disneysteve View Post

Bad, bad message, WalMart. I suspect I've never seen this ad because they aren't allowed to offer that service in my state. That's a good thing.

They show those ads in Georgia and frankly I wouldn't expect anything else from Wal-Mart, no more no less. They have been sucking small and large businesses and surrounding communities dry for years now, this is only their next step.

The banking industry has been fighting them tooth and nail because offering check-cashing services is just laying the groundwork for an expansion into full-fledged banking.

Terrible WalMart ad