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Why do big bank pale in comparison to small banks while Wal-Mart blows away any other store on the planet?
I literally mean that, btw. Wal-Mart has everything and decent service 90+% of the time.
Big banks suck though, so many fees, such bad service, small banks are so much more friendly and helpful, and fees way more competitive.
8 Answers
- ?Lv 78 years agoFavorite Answer
Walmart has the benefit of being able to use legal slave labor to manufacture the goods they sell, and are also able to get "We The People" to pick up part of the tab of paying the salary of their workforce (in the form of food stamps and welfare).
The banks simply look for ways to skim money from you, simply by having you giving them access to it. Smaller banks are forced to have better customer service in order to compete with the larger ones. Often, even their fees can be exhorbitant.... for example, I go to a smaller bank, and often have to pay ATM fees each time I need to get cash (because my small/mid size bank does not exist in many places which I travel to)... in addition my smaller bank is now whacking me with an $11 per month fee, just for me to have the ability to get to my cash from other ATM machines (on top of the $2-4 it costs at each machine).
Did you know that in 2011 banks in this country made over 27 billion dollars, just on overdraft fees?
We have some serious problems in this country, and we need to start working to undo the mess that Reagan and the Republicans have inflicted on this country over the past few decades.
- hottotrot1_usaLv 78 years ago
Banks are in a service business, and small banks provide better service.
Walmart is in a product business, and is able to buy in quantity and stock many items and keep markups low.
The economies of scale seem to work better in retail than in banking.
- ?Lv 78 years ago
Most of the time when you shop at Walmart, you don't need service. You just find the product you want, take it to the cashier, and go home.
- Anonymous8 years ago
Now is the time to buy Bank of America stock, BAC.
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- Anonymous8 years ago
decent service 90+ percent of the time?
AND THE BIGGEST TROLL AWARD ON YA! GOES TOO... YOU!!!
- bully on speedLv 58 years ago
cause big banks prefer bigger clients, businesses, people with large estates. they nickle and dime smaller customers to get them out