

Walmart, Amex Roll Out New Prepaid Card - mikecane
http://abcnews.go.com/blogs/business/2012/10/walmart-amex-roll-out-new-prepaid-card/

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lutusp
> _The company said the card is an “alternative to debit and checking
> accounts” and will be available next week online or in more than 4,000
> Walmart stores._

This proves that cash is dead. The product is in most respects
indistinguishable from cash, with the difference that it can only be spent in
one place.

Now the fun part:

> Walmart and American Express announced Monday morning that they would make
> available a reloadable prepaid card _for consumers tired of banking fees_.

Claim: prevents banking fees.

> There is no fee to set up the card online at Bluebird.com but _there is a $5
> fee for an account set up kit_ at Walmart stores...

Contradiction: involves a banking fee.

I have just one question -- if someone steals your card, can they use it? If
so, then it really is indistinguishable from cash. What's wrong with cash?

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27182818284
They see that as a purchase or startup fee rather than a banking fee. When
they say no banking fees they probably mean the fees that traditional banks
nickel and dime people with like monthly maintenance fees. It lets them slime
their way to a holier looking position in the press releases.

