Add banking to the long list of things you can find at Sam's Club.
Wal-Mart already has "MoneyCenters" customers can use to cash checks and pay bills, and they're hoping to offer small business loans through Sam's Club. Sam's Club is a division of Wal-Mart Stores, Inc.
The MoneyCenters appeal to lower-income customers sometimes referred to as "unbanked". They generally don't have bank accounts, so they're left with retailers and check cashing stores. While less robust and probably more expensive than a bank, MoneyCenters are less expensive than a lot of check cashing stores.
Wal-Mart tried to become a bank without success in recent years. Loans will not be made by Wal-Mart, but by a finance company. Sam's Club claims that customers will get a discount, presumably because Sam's Club can bring plenty of borrowers to the finance company.
Would you bank with Wal-Mart? It may be worth a look. However, you should always compare old fashioned banks and credit unions as well.
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