Wal-Mart said on Monday that it plans for more of its stores to offer bank-like services for the company's lower-income customers, the Wall Street Journal reports.
The world's largest retailer told Wal-Mart it plans to have as many as 1,500 'Money Centres', or financial services operations that can cash checks, pay bills, and fill out tax forms, among other things.
Money centres have generally catered to customers who do not have banks.Wal-Mart cannot lend money or guarantee deposits.
Wal-Mart tried to obtain a bank charter in 2007, but criticism from lawmakers and banking industry officials pushed the company to withdraw its application.
Wal-Mart could not be reached immediately for comment.
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