CheckCashing

Taking aim at the many Americans who don't have a credit card or checking account but are inclined to shop online, Walmart is now allowing customers to pay in cash for online orders.

As many as 60 million Americans have limited or no access to banking services, and many of them will get tax refunds this spring. Typically, this is where payday lenders come in, cashing the checks for big fees, but now there's a new cashier offering to do it for much less: Walmart.

The largest public corporation by revenue is moving into a decidedly low-rent business. Following its usual strategy, the big box store will charge less than competitors when handing out cash. With approximately 9 million unbanked U.S. households, according to the FDIC, this could be big business.

The Treasury Department is rolling out a debit card today in 10 states so that people without bank accounts won't waste their sustenance checks on huge check cashing fees. The DirectExpress Debit MasterCard automatically loads new payments onto the card each month, so there are no checks to be lost...