I don't see any problem with Walmart offering checking accounts. Many people have trouble with credit and can't get a checking account. I think that Walmart would offer easier to get checking accounts. I would probably get one if I could. So, I don't see a problem with this at all!
For the middle class average check writers who need to move money and shop at the regularly yes. There are no fees for writing a bad check, or keeping a minimum balance in the account. For customers who process $500 or more monthly in direct deposits, the $8.95 maintenance fee is waived. And the money is FDIC ensured.
I would look for though what other retial stores do or banks do to compeate.
Say what you may about Walmart, they are very good at spotting needs and fulfilling them. Many Americans are unable to get checking accounts. Some were simply wiped out in the recession and have never recovered. Some were driven out of the banking system by exorbitant fees. One or two NSF checks can result in hundreds of dollars in fees. Many people are unable to pay and abandon the checking account, only to find they are no longer able to open an account at another bank because of the money "owed". Walmart has identified a huge market and is cashing in on it. Something similar is happening in the cable TV industry. People are increasingly turning to the internet for entertainment rather than pay huge sums of money to purchase hundreds of filler channels and ten channels they actually watch. Consumers have had it with being gouged. As long as companies and whole industries overcharge, someone will step in and take their place.
Walmart should really focus on making what they currently offer better rather than getting involved with checking accounts. This is just going to cause a lot of unnecessary congestion in the stores and will take away from what they do best. They should really focus on training their employees and their workforce to be nicer to people.