Walmart Delivers Lowest Prices Ever for Domestic Money Transfers
October 25 2016 - 5:00PM
Business Wire
Walmart2Walmart Money Transfer Service expands
to deliver more savings to customers
According to the National Survey of Unbanked and Underbanked
Households, nearly 27 percent of Americans are unbanked or
underbanked and rely on services such as wire transfers as a safe
and reliable alternative as they manage their everyday
finances.
With millions of customers making money transfers in Walmart
stores each month, Wal-Mart Stores, Inc., along with Ria Money
Transfer and MoneyGram International Inc., is making the necessity
of transferring money even more affordable for customers.
“Our customers tell us they are looking for simple and
affordable solutions that make their lives easier,” said Kirsty
Ward, vice president, Services, Walmart U.S. “Millions of our
customers use transfers as part of their everyday money management
– sending funds regularly to their loved ones and often in times of
urgent need. We’re committed to driving down the cost of sending
money, which means customers keep more of their hard-earned
funds.”
Walmart, Ria and MoneyGram today announced a series of changes
to their money transfer services that deliver lower prices, greater
convenience and a simplified fee structure for customers.
Walmart2Walmart Expansion
The benefits and reach of Walmart2Walmart, a revolutionary low
cost service that enables customers to transfer money to and from
Walmart stores, has expanded. Changes to the service include:
- Increasing the transfer limit when
sending money via Walmart2Walmart powered by Ria in the United
States -
- In 2014, Walmart and Ria introduced the
retail industry-first Walmart2Walmart money transfer program giving
customers a low-cost service that allows them to transfer money to
and from more than 4,600 Walmart stores nationwide at a lower cost
than competitors.
- Customers can now send up to $2,500 for
$18 when using the exclusive transfer service. Previously, the
limit was $900. Competitive offerings charge up to $50 to transfer
$2,500.
- Expanding Walmart2Walmart to include
transfers to Walmart Mexico stores, powered by MoneyGram.
- Customers can send up to $800 for $6.50
or less from any Walmart store in the U.S. to any of the more than
1,200 Walmart stores in Mexico
- More than 18 percent of international
money transfers from the United States are sent to Mexico with many
of them both starting and ending in Walmart stores. Walmart
operates in Mexico under the banners Walmart, Superama, Bodega
Aurrera and Mi Bodega Aurrera.
- With Walmart2Walmart Mexico, powered by
MoneyGram, customers can save up to 20 percent when compared to
other international money transfer options and know that their
funds are being transferred quickly and safely.
MoneyGram Domestic Money Transfers at Walmart
MoneyGram has lowered the service fees on transfers within the
U.S. for funds sent over $2,500, exclusively at Walmart. Customers
will now pay 1.2 percent on face value of transfers over $2,500.
These changes will result in savings of up to $80 in fees when
compared to competitive offerings of 2 percent.
Ria and MoneyGram are the licensed money transfer operators for
all money transfer transactions at Walmart and Walmart acts as the
authorized agent of the two companies.
Money transfer services are just one of many financial services
offered at local Walmart MoneyCenters and Walmart Customer Service
desks. Other services include check cashing, bill pay, money
orders, tax preparation services and Card programs with the Walmart
Credit Card, Walmart MoneyCard and Bluebird.
For more information, please visit:
www.walmart.com/moneycenter.
About Walmart
Wal-Mart Stores, Inc. (NYSE: WMT) helps people around the world
save money and live better - anytime and anywhere - in retail
stores, online, and through their mobile devices. Each week, nearly
260 million customers and members visit our 11,539 stores under 63
banners in 28 countries and e-commerce websites in 11 countries.
With fiscal year 2016 revenue of $482.1 billion, Walmart employs
approximately 2.3 million associates worldwide. Walmart continues
to be a leader in sustainability, corporate philanthropy and
employment opportunity. Additional information about Walmart can be
found by visiting http://corporate.walmart.com on Facebook at
http://facebook.com/walmart and on Twitter at
http://twitter.com/walmart.
About Ria
Ria, a subsidiary of Euronet Worldwide,
Inc. (NASDAQ:EEFT), is a global leader in money remittances.
Ria offers fast, secure, affordable money transfers through a
network of approximately 314,000 global agents spanning 144
countries and online at www.riamoneytransfer.com. The company
is steadfast in its commitment to its customers and remains
ingrained within the communities in which they live.
About MoneyGram
MoneyGram (NASDAQ: MGI) is a global provider of innovative
money transfer services and is recognized worldwide as a financial
connection to friends and family. Whether online, or through a
mobile device, at a kiosk or in a local store, we connect consumers
any way that is convenient for them. We also provide bill payment
services, issue money orders and process official checks in select
markets. More information about MoneyGram International,
Inc. is available at moneygram.com.
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Wal-Mart Stores, Inc.Molly Blakeman,
1-800-331-0085news.walmart.com/reporter
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