El banco del Walmart is issuing pre-paid debit cards, and like everything else at Walmart, they suck. Here’s some of the hidden fees:

Card issue fee: $8.94

Reload the card with more money: $4.64

ATM transaction fee: $1.95

ATM balance inquiry: $0.75

Monthly maintenance fee: $4.94

Statement fee: $2.00

Great idea, tap into the “unbanked,” and then rip them off. Here’s an even better idea for potential Walmart Debit Card users: cash! No fees!

Wal-Mart MoneyCard Cardholder Agreement [via J-walk blog]

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