No. of Recommendations: 2
The interchange fees for a Check Card are the same as those for a credit card; they are not higher. Wal-mart's beef is that processing a Check Card transaction shouldn't cost as much because there is no "risk" associated with it; in other words, it's money that is already there (checking account) as opposed to a "loan" (credit card).

However, as far as Wal-mart is concerned, it should make absolutely no difference, because the money is GUARANTEED, whether the money is in the person's checking account or not.

Also, just because there is "no risk" associated with a Check Card transaction, that doesn't mean that it costs any less to process the transaction.
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.