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Should Wal-Mart get involved in banking?

Results so far:

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

Good gosh No. One of the reasons I go to my current bank is that the employees there are knowledgeable about my accounts, about their banking offerings and the latest in financial news and innovations. Banking is a whole lot more than a "checking and savings account." It's home mortgages, car loans, safe deposit boxes, business accounts...a host of financial tools and products. My Bank is a professional at what it does. I don't expect to buy cereal when I go to my bank.

Wal-Mart, as a business, has proven itself a winner in the discount merchandise arena. I know that I can purchase clothing, appliances and toys at a discount, and that the quality will be "good enough." No one has claimed that Wal-Mart's goods are "top of the line," nor are they expected to be. However, that is what I would expect from banking - top of the line.

Wal-Mart dilutes that which it includes. Eye-care needs are glasses. Groceries are basics. Toys are what is currently popular. Garden needs are seasonal. This dilution is okay because that is what drives the discount - a lot of something the same can be sold for less. I would not want banking to be "diluted." It would be better if Wal-Mart continued to polish its current offerings.

Learn more about this author, Linda Smith.
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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

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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

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