Walmart Partners with PayPal to Bring Deposits and Withdrawals to Physical Stores

[cageymaru]

Walmart is partnering with PayPal to allow PayPal customers to deposit and withdraw funds from their PayPal account in-store for a $3 fee. This is the first time PayPal mobile app users will be able to take cash out of their PayPal account in a brick-and-mortar environment, in addition to being able to load cash into their PayPal balance at Walmart stores. PayPal Cash Mastercard users will be able to access their cash at Walmart ATMs, service desks, and cash registers for the same fee.

"Today's news is the first time our two companies are working together to build products for our shared customers," said Dan Schulman, President and CEO, PayPal. "We consider this a key collaboration for both PayPal and Walmart. We are committed to working together to make it simple and easy for people to use PayPal cash in and cash out money services at every Walmart location in the U.S. We look forward to working hand-and-hand to help people and families with their financial services needs."

 

[bobdabilder]

3 dollar fee on top of the other fees? dayyuummmmm

 

[vegeta535]

3 dollar fee on top of the other fees? dayyuummmmm

No difference from using their ATMs. It should be illegal. I remember Royal farms used BofA ATMs for the longest time around here. I got to withdraw money with 0 fees. Then they switched to some shit bank and claim no ATM fees. Sure you don't get charged a fee from the store but your bank will charge you $3+ per transaction. There was a revolt when my company changed to some shit bag bank company to receive our pay on debt cards istead of checks.

 

[travisty]

Who am I paying $3 to?

What a rip off. Just use the free direct deposit in paypal

 

[Lakados]

I know Amazon is laying into Walmart hard but damned, what’s next Walmart fast cash and checking services... only 22% monthly interest + $100 closing fee?

 

[The_Capulet]

Walmart already let you deposit money to paypal. Along with CVS, wallgreens, dollar general, and several gas stations.

And I could already pull my cash out from any ATM at all, for exactly the same price.

On top of that, they've raised the deposit fee at walmart to release this bit of "news".

Every bit of this should be called out by the media outlets covering it. The whole thing is just bullshit.

 

[nutzo]

Remember when PayPal used to be free?
Too many companies with their hands in our wallets. Don't understand why people put up with it.

I'll stick to direct deposit (free) into my checking account (free).
When I buy something I'll put it on my cash back credit card (better than free), and then pay the credit card bill with my banks bill pay (free).

 

[clockdogg]

Will Paypal be integrated in Walmart's biometric shopping carts for no stop shopping?

 

[Wrecked Em]

Sounds like they might be catering to poor people, who don't have bank accounts or credit.

 

[Zepher]

I have these cards from Paypal. I have never used the bottom card, not sure where you use that one as it's just a PayPal card.
The other one is a debit that pulls from the PayPal balance and backup source if you don't have enough in the account.
I haven't pulled cash out of an ATM in a long time so I am not sure how much in fees I paid when I did.

 

[Arcygenical]

There was a revolt when my company changed to some shit bag bank company to receive our pay on debt cards istead of checks.

Do you work for... like... the government of Nigeria?


I love that we don't have anything similar to this with usual bank ATM's in Canada. Yet we've had chip and pin technology (me personally) the last 7 years... Minimum. Transaction times there are in the order of 1 second, as well.

I think the government work bureau would have a heart attack of a company tried to remit payment to an employee with a preloaded debit card.