Channel Button

There are 19 articles on this title. You are reading the article ranked and rated #6 by Helium's members.

Debate_icon

Business   >

Business News & Issues

Should Wal-Mart get involved in banking?

Results so far:

No
65% 162 votes Total: 250 votes
Yes
35% 88 votes

I do most of my shopping at Wal-Mart - I love the store, but I would never consider doing my banking there. It would be convenient to be able to do all your shopping and banking under one roof, but sometimes convenience doesn't always mean the best quality of service.

I know companies need to expand into different areas to be able to compete in today's market, but I think it's starting to get out of hand, especially when a department store thinks about going into banking. Don't bankers and tellers have to be properly trained to work in a bank? Would Wal-Mart be able to provide the same trained, knowledgeable people in their bank? I work hard for my money, as I'm sure everyone else does, and I don't want to place it in the hands of someone who is inexperienced.

Companies should stick with what they know. Competition is fierce, especially with so many different stores popping up, but when they delve into areas they have no experience in, quality of service is in question. I'm the type of person that when I need a prescription or medical supplies, I go to a drug store because I'm sure that I'm dealing with people trained in that field - when I need my car fixed, I go to a garage or to my car dealership. I can't see myself going to a department store for my banking needs - the two just don't go together.

Why does Wal-Mart feel that they even have to grow bigger into other areas? They are one of the most successful companies in the country - why mess with success by going into unchartered waters like banking? When people think of "Wal-Mart", they think of clothes, shoes, toys, electronics, etc. at low prices and are happy with that - isn't that enough for Wal-Mart? I guess sometimes the mighty dollar is more important than providing quality service and care for products you're well known for. The way I look at it, if something isn't broke, don't try and fix it.

Wal-Mart's expansion into selling groceries should be as far as they go. I admit that I can buy some grocery items cheaper at Wal-Mart, but I still buy most of my groceries at No-Frills or A&P. Wal-Mart, stick to what you do best - selling department store products at low prices and leave the banking to the professionals.

Learn more about this author, Wendy Brooks.
Contact this writer Click here to send author comments or questions.


Below are the top articles rated and ranked by Helium members on:

Should Wal-Mart get involved in banking?

No
  • 1 of 8

    by Angela S. Young

    The idea of Wal-Mart taking on banking makes me quake in my shoes, or maybe that's in my bank account? No, that's no...read more

  • 2 of 8

    by Matt Remley

    Over the past few years there has been tons of controversy over Wal-Mart. They seem to have created a monopoly of sor...read more

Yes
  • 1 of 11

    by Steve Jones

    Wal-Mart is already involved in banking. Sure, its application to open a bank that offers the full range of services ...read more

  • 2 of 11

    by Saurabh Pal

    America has been the biggest proponent of free trade practices. It despises government control in business and profes...read more

Add your voice

Know something about Should Wal-Mart get involved in banking? ?
We want to hear your view. Write_penWrite now!

175649

Featured Partner

National Center for Policy Analysis (NCPA)

The National Center for Policy Analysis (NCPA) has partnered with Helium, giving you the chance to write for a cause....more

What is Helium? | User Guide | Community | Link to Helium | Privacy | User agreement | DMCA

Helium, Inc.
200 Brickstone Square Andover, MA 01810 USA