Will Wal-Mart's banking push into Canada succeed?

Does this company have to have their dirty fingers in everything, seriously. Don't we have enough banks charging us fee's for everything we want to do with our own money, and constantly jacking the interest rate on everyone for everything. Next week I think I have to get my hair cut at the Wall-mart hair salon, and I think I'll buy my next car at the Wall-mart auto dealership, and I think I'm seeing a movie at the Wall-mart theater, seriously F-off Wallmart.

Our Canadian banks should have more compitetion. They charge too much services charge and interest. Not egar to do business. You don't know your banker and your banker don't know you. My banker keep changing every 9 months to year and half like.
I will give them a try to see if they work well.

We don't need more banks for competition, they are already supposed to be in a competition but instead what they do is all jack rates and fee's the same, essentially making it a monopoly because you can't go anywhere else to get a cheaper rate. But because they're all different companies it can't legally be a monoploly so it then becomes what is called an oligopoly, and this Wall-mart bank will do exactly the same thing. So no matter where you go, you pay all the same fee's, the same amount for fee's, the same interest rate, everything the same. We can't escape it. Add being over taxed, and wages not going up enough to match the rise of prices of everything and then everyone wonders why we're in a recession.

The Canadian backing system, which our government has always protected needs more competition. I am not a Walmart fan but if it makes the big players sharpen their pencils and provide better rates to all of us then Hooray!.
The main reason our banks have weathered the storm in international finance is that they have consistently over charged Canadians for services and manage to make money off all of us in the worst of times.
Bring on more competition!!

I hope that Wal Mart forces our corrupt Canadian banks to change their interest rate policy. When mortgage rates used to be 15%, our savings interest rates were around 12%. Now that interest rates are about 6%, our savings interest rates are a fraction of 1%. The Canadian banks can only cheat us because they are in collusion with "our" government.

Wal-mart getting in the banking business, sounds good to me! I currently bank with President's Choice Financial and it's great. I also love Wal-mart, lets see what they've got to offer! Wake up Canadians these big banks and there service fees are ripping you off!!! WAKE UP WAKE UP!!

What bank fees are you talking about? Do you mean ATM, cheques, Visa...? You can easily controle that by using common sense. Get off your A$$ walk into the bank and spend 4 minutes with the Teller to withdraw money and pay your bills. This will cost you $0. But of course, if you choose to be lazy, the ATM & Automatic Bank Withdrawals will cost you money for a convenience fee. You can open an account where they allow you a certain amount of cheques per month without any cost to you.
By the way, if you any idea about economics, you would understand the difference between Mortgage Rates and Savings Accounts Most people who understand mortgages have a variable rate which is now 2.5%. The Caveat is that you can't only have 10% down payment because CMHC will ask you to lock in your rate to protect all parties. I feel so sorry for those who have no idea or education on money matters yet it is vital to their well being. When something needs to get done around your home and your not sure how to do, don't you ask friends for some advice? Therefore, why don't you do that with money matters?
Walmart will not be a viable alternative to banking!

Seriously, join PC Financial - you can use your card at any CIBC atm. Why are all of you paying these ridiculous fees. Send your bank a message by moving your money. That will get their attention.

The message will be that you're actually moving over to CIBC since they're the entity that backs PC banking operations.

I'm with "Banking in the Real World" on this one. Do your research and find a local bank that doesn't charge fees for the services you're looking for... unless you're looking for something very special they are out there.

I also agree with this person's take on interest rates. Once again learn how the system works if you'ld like to find ways of improving your own situation.

Wal Mart won't improve anything for those willing to do some research.

Join a credit union....

Working for a bank, it always amuses me how much people will complain over having to pay $12 or even $4/month for their banking package, but have no problem dishing out hundreds of dollars every month to other providers such as cable, internet, cell phone, etc. And what about that $4 Starbucks you drink every day? Most people seem to forget that a bank is a business and they are providing a service. True, banks do make a lot of money. Want to cash in on that? Buy shares!
Im even more amused by the comments from people who are cheering for Walmart to come after the banks, when Walmart had profits 3 times the amount of any of the major banks in Canada last year, yet pays the majority of its employees minimum wage. Im not trying to bash Walmart, but at least banks provide a somewhat liveable income to its employees.

Walmart is the last place I would put my money.
That includes their new bank, their stocks and their cash registers.

Check out Young and Free Ontario offered through Libro Financial Group and United Communities Credit Union

http://www.youngfreeontario.com/

Banking at Walmart - no thanks.I will never bank there or shop there. And by the way - what`s with the scams at the check-out`s : customers donate a dollar to a charity & Walmart takes the credit & tax break. They don`t even have reach into their own pockets! Nicely played - greedy Walmart They never pay their fair share. My conscience forbids me to enter this place.

Andy T, Barry, Zakimar, John H , get your head out of your a$$ Do you really want to support a company that that treats their employees like crap. You have no idea at all about what an anti people company wal mart is, they really are the worst of the worst. Do you really want to make them richer? But if you wear PJ's when you go shopping ... well, what more can I say.

This is for Lesli-Look around at other stores Walmart is not theonly store to pull the "scam"your talking about-Zellers,Loblaw/Superstore,Safeway and others do it too so dont target just Walmart,they are all guilty of it but these stores also post signs saying what they raise the money for and alot of it goes back to local communities.i am glad your conscience is telling you its ok to spend more money elsewhere on the same item at Walmart.Maybe you have money to spend but a lot of people dont.

Better to spend your money at Costco, they treat their employees like they matter, and with decent wages.just Google Wal Mart to see all the dirt they have on them

I am not going to bank at Walmart since they have a life insurance for all their employees and correct the money themselves when their employess die. They are very greedy and don't treat their employees right and they get most of their cheap products from China. I rather supporting our Canadians banks or our Credit Unions and shop at Superstore, Save on Foods or Zellers. We must keep our local economy strong by supporting our local business.