ONE Bank account

[henryfalmore]

Anyone use or has used the ONE bank powered by Walmart?

Hopefully this is in the right thread.

I also won't post a link (don't wanna get into any trouble with the mods)

they have an app. I was asking the person in the Wal-mart electronics department about it.

One Walmart team member mentioned that when she first started they put her paycheck on that card/account. The other team member told me that she didn't have the card so she didn't know

One benefit is that it has no monthly fees.

Anyways thank you all love you

[rsot]

I have heard of it but not used - seems like a viable bank account

[agent006140]

Good idea for WMT,deposits employees in its bank account,it could hold on to your cash longer.

[rsot]

Originally Posted by agent006140

Good idea for WMT,deposits employees in its bank account,it could hold on to your cash longer.

I doubt WMT wants that backlash from holding employee's wages - they have enough problems with unions, etc

[agent006140]

They are not withholding employee wages,but if they deposit your paycheck in a bank account and WMT owns the bank,it is as if it never left WMT until you start spending,and you are not going to spend the entire check in one big swoop.
Banks often offer employees free checking and deposit his paychck in that account,it is part of demand deposits,they are borrowing money from you and pay zero interest

[rsot]

True - making money off the sum sitting in the accounts in more ways than one