Originally Posted by snugglening

I thought this was all because Wal-mart was not allowed a bank charter or something along those lines. Yo MM Hans Gruber says "Hit it , again!" , which is exactly are the words I wanted to hear. Also to make this post relevant to the discussion I have not found a single Walgreen that allows CC for the VR here in C-bus ,Toledo, Ohio.

Originally Posted by IAkH

Take a look at a reload and on the front of it you will see many logos for what it can be used for. In fact, only recently was the amex logo even added

Originally Posted by Happy

I doubt WalMart needs banking to attract people to their stores - the WalMart Superstores which have the Money Center - there are lines basically from store opens till closes - people go there cashing paychecks to the WalMart Moneycards, paying their bills, paying the cell phone services in other countries such as Caribbeans (so your family members can have cell phone services in the islands), sending moneygram to other cities (quite a fee yet people seem to do it all the time), buying MO, etc etc all sorts of transaction - but the money keeps moving, unlike BB accounts where there would be balances.

That is not to mention the check out lines are always 5+ persons deep... separate from the folks lining up at the Money Center...

They do not need a bank in the store to attract folks to come in. As a matter of fact, in our area, SunTrust actually has mini branch in Super WalMarts. So WalMart already have banking services in their store, just not their own so they cannot benefit from the depository accounts.

I believe the dough while sits with AMEX - there are deals between the 2 giant companies that neither you and I would have any idea how the gravy is divided but I believe AMEX does not get all the dough without giving WalMart some cut of whatever the product brings in.

Originally Posted by NYBanker

I stand by my two reasons why Walmart wants to be in banking. I am correct. Cash and capital isn't the issue for Walmart. The lines are 5 deep? They'd like them 7 deep...or would build more registers. If you think walmart is content with their same-store sales and don't want to increase traffic at every single store (which your comment implies), you are grossly mistaken.

As to where the deposited bb funds sit, they do not sit with Walmart. Amex is not lending Walmart money, either. Walmart's CDS are tighter than Amex's (when was the last time you checked?). As to a fee share, that is possible...though in general bluebird isn't a particularly profitable product. The bulk of the revenue is from card usage fees, very different than the prepaid debit card business model.

Originally Posted by samnc0

i just got the VR set up on my bluebird account. And I was able to pay a bill (or so I think...lets see if it processes) I did the ink Visa card at Office Depot to purchase the VR at CVS.

I think (but I am not sure) that the max I can load on my BB from Vanilla is $1,000 a day and $2,500 a month. Is this true?

Regardles of whether this is true, if I was to load to get about a single $500 card at OD a week, will this raise any concerns with chase? Would chase be upset if the ONLY thing I got from Office Dept is regular amounts of the $504.95 purchases on the card, or should I get some other stuff there as well while I get the cards? I dont want Chase to shut this down on me...

Originally Posted by samnc0

I think (but I am not sure) that the max I can load on my BB from Vanilla is $1,000 a day and $2,500 a month. Is this true?

Originally Posted by Artemk

I am pretty sure it's $1,000 a day, $5,000 a month. Personally, I don't think amounts matter that much, but I still prefer something a bit less rounded. Instead of getting jusnk I don't need, I just load smaller amounts - $470, $480, for example.

I also use the card at places other than OD - gas stations also give you 5x points, and this will cause less attention from Chase (at least I beleive that)

Originally Posted by bocastephen

Just to add dimension, Walmart is about margin - this is why they welcome new suppliers at fairly tight margins, help them with first year sales to get them hooked, then go back at them the following year like a starving tiger pouncing on a pigeon, squeezing any last available penny from the supplier's margin, promising they can either make it up on volume, or telling the supplier to get lost.

If Walmart can't expand volume, either through same store sales or opening new ones, it loses the volume story and eventually suppliers, many tired of being tortured year after year over squeezing margins, will end up telling Walmart to get lost.

Bluebird is just another feather (sorry ) in this strategy - you see opticians, dentists, primary health care, fast food, travel, and even retail banking (operated by contract) - essentially Walmart becomes the new 'center of town', replacing the traditional small town America business district, cramming 3 blocks of independent retailers under the Walmart roof, and now Walmart gets a cut of every retail transaction rung up in these towns.

The entrepreneur side of me is impressed, but the human side of me is disgusted.

Originally Posted by NYBanker

Also good to put your mobile phone, cable and landline phone bills to the Ink cards...all 5x.

Originally Posted by Artemk

gas stations also give you 5x points

Originally Posted by Artemk

Done, long time ago, just forgot to mention... What's landline?

Originally Posted by Angeleno228

Aren't gas stations only 2x on Ink?
landline = as in regular home/business phone line (not cell)

Originally Posted by samnc0

thanks, i am aware of the 5,000 limit, but i wanted to know if something this large would trigger an audit/denial of some kind, of if its smarter to not quite do $500 all the time.

Originally Posted by samnc0

thanks, i am aware of the 5,000 limit, but i wanted to know if something this large would trigger an audit/denial of some kind, of if its smarter to not quite do $500 all the time.