Walmart: No More Paycheck Here's Your Pre-Paid Debit Card »
Walmart, our nation’s largest employer, has eliminated paper paychecks. Now employees can choose to sign up for direct deposit or have their wages added to a pre-paid debit card. ABCNews says that only about half of Walmart’s employees use direct deposit — the rest either prefer a paper paycheck or, in some cases, don’t have a bank account.Does this creep anyone else out?
For folks who don’t have a bank account, it could actually be a great alternative to dealing with check cashing fees - another business WalMart’s getting into for the low low price of $3 a check. The catch is, how to get cash or use the money for things that don’t take debit cards, like rent or bills. It looks like the first cash withdrawl is free, but subsequent withdrawls in a pay period are $2. Depending on whether pay periods are monthly or shorter, that could add up.
And yeah, it is creepy. My initial gut reaction is that my employer should give me my damn paycheck and where I put it is my business. Then again, I’m in a position to have a decent inexpensive bank account and direct deposit.
