Walmart Enhances Money Transfer Service
Wal-Mart Stores Inc. is celebrating the third anniversary of its Walmart2Walmart money transfer service with price cuts and a new digital experience for domestic money transfers, helping customers save more money and time.
Together with Ria Money Transfer – which powers the service – and American Express, the Bentonville, Ark.-based mega-retailer now allows customers to save 20 percent to 90 percent on cash transfers, versus the leading competitor. Walmart's service offers transparent national pricing in all of its stores, whereas other leading competitors often vary prices by location.
Additionally, beginning in May, Walmart and American Express will introduce the Bluebird2Walmart Money Transfer Service, which allows account holders of Bluebird – a checking and debit alternative – to digitally send money for cash pickup at Walmart store locations. Account holders can access the new service by visiting Bluebird.com or by using the Bluebird app on their smartphone. Money receivers don't need a Bluebird account – rather, they can just pick up their funds at any Walmart store within minutes of the online transfer. Pricing is consistent with the new Walmart2Walmart prices.
“We are extremely proud of the significant savings our customers have enjoyed in the three years since Walmart2Walmart was introduced," said Kirsty Ward, VP, Walmart services. "For the millions of customers who rely upon transferring money to help family and friends – whether regularly or in times of urgent need – we know saving money on costly fees can make a big difference. Now with even lower fees for Walmart2Walmart, as well as the option to send money digitally with Bluebird, we continue to deliver on our mission to save customers money as well as time.”
The news follows Walmart’s announcement earlier this year that it was enhancing its Walmart app to create a faster, easier and more convenient experience for money-transfer customers. The new capabilities, which began rolling out in stores last month, enable app users to use a designated express lane in stores.
Walmart serves nearly 260 million customers and members each week via its 11,593 stores under 63 banners in 28 countries, and ecommerce websites in 11 countries. It employs approximately 2.4 million associates worldwide.