Walmart-2-Walmart Money Transfer Service
The world’s largest retailer introduced a new, low-cost money transfer service called Walmart-2-Walmart. Now consumers can send money to each other by using the retail chain’s store network. This service is rolled out in partnership with Euronet Worldwide’s subsidiary Ria Money Transfer.
Walmart-2-Walmart supports domestic cash and PIN debit transfers at more than 4,000 Walmart stores in the U.S. and Puerto Rico. Consumers can send up to $50 for a $4.50 service fee and up to $900 for $9.50.
If you compare the fee with other services, you will see that Walmart competitors charge up to $76 for transferring more than $50.
While Walmart-2-Walmart service offers low prices, it is limited. It does not allow transfers outside the U.S. and has no online service. Also, the transfers are capped at $900.
The new money transfer service is aimed to offer shoppers more financial choices. The existing relationship with MoneyGram will not be changed. MoneyGram will continue providing a full range of transfer services at Walmart stores. It has no money transfer limits and customers can transfer funds outside the U.S.
Walmart also offers financial services such as prepaid cards and credit cards.