- Bloomberg reports that Wal-Mart is expanding its check cashing business to 44 states, charging $3 to cash preprinted payroll and government checks up to $1,000.
The reason for the rollout is that Wal-Mart found that when it cashed tax refund checks, it saw sales gains at its stores. The company believes that by cashing payroll checks, it can continue to build sales at its stores that reflect monthly pay cycles.
- KC's View:
