Wal-Mart customers now have the option of cashing their pre-printed payroll or government issued check, including tax refund checks, at designated registers in Wal-Mart Stores and Neighborhood Markets in 44 states. Licensing is pending in the states of Connecticut, Massachusetts, New Jersey, Nevada, New York and Rhode Island. The fee to cash checks will be a flat $3; except where state law requires a percentage based fee. In these locations, the maximum fee charged will be $3. Wal-Mart’s more than one million associates will enjoy the service of cashing their Wal-Mart paychecks for free.
“Customers interested in cashing a $500 check can expect to pay a $5 to $15 fee at other check cashing outlets compared to a $3 fee at Wal-Mart,” stated Jane Thompson, president, Wal-Mart Financial Services. “When customers cash their checks they want the most money possible left in their wallet at the end of the day. We think they will immediately see the savings Wal-Mart is offering with this new service.”
Customers will begin the transaction by keying in their PIN (Social Security number) at the register for privacy purposes. Customers must provide a government issued picture ID to complete the transaction. While no minimum check amount is required, the maximum check amount that will be accepted is $1,000. Thompson added, “This service was designed with the customer in mind — just like our money order and money transfer products. It is important that we offer our customers who do not have bank accounts, both savings and convenience with all three basic money services.”
Wal-Mart Lowers the Cost to Transfer Money to Mexico
Wal-Mart just made it more affordable for customers to send money to Mexico to honor their mothers and loved ones this Mother’s Day.
Wal-Mart offers MoneyGram money transfers at the Service Desk of every Wal-Mart store across the country. The money transfer fee is exclusive to customers who utilize MoneyGram(R) services at Wal-Mart stores, maintaining Wal-Mart’s commitment to every day low prices. Through our relationship with MoneyGram(R), customers in the United States can send funds to Mexico for a flat fee of $9.46 for all amounts up to $500 with a competitive exchange rate. This new every day low price will save customers more than 40% in transfer fees compared to the previous Wal-Mart price just in time for Mother’s Day.
“We are proud to offer this low-cost money transfer service to Mexico at all our stores across the country,” says Peggy Knight, Sr. Director, Product Marketing for Wal-Mart Financial Services. “We have a commitment to offer convenient and affordable services that fulfill the basic financial needs of our customers.”
Customers visiting their local Wal-Mart in preparation for Mother’s Day will see just how easy, convenient and affordable it is to show their Moms how much they care. With a visit to the Service Desk, money can be sent to Mexico in just a few minutes, and family members can pick it up in Mexico at their local Wal-Mart, Bodega Aurrera, Superama, Suburbia, or at many other convenient MoneyGram(R) locations. Additionally, senders will receive a complimentary three-minute phone call to notify family members that the money is on the way. Family members who pick up their money at Wal-Mart, Bodega Aurrera, Superama and Suburbia locations in Mexico from now through June 3 will also receive a 40-peso in-store certificate.
Almost one-third of the Hispanics living in the U.S. send money to their families residing in their country of origin. The most important time for sending money to Mexico is around Mother’s Day. MoneyGram(R) money transfers are also available for Latin America and the Caribbean. Transfer fees for these countries vary, but are also available at the Service Desk at an every day low price.
Wal-Mart Stores, Inc. (NYSE: WMT) operates Wal-Mart Stores, Supercenters, Neighborhood Markets and SAM’S CLUBS in all 50 states. Internationally, the company operates in Puerto Rico, Canada, China, Mexico, Brazil, Germany, United Kingdom, Argentina, and South Korea. The company’s securities are listed on the New York and Pacific stock exchanges under the symbol WMT. Last year, Wal-Mart Stores, Inc., contributed more than $150 million to support communities and local nonprofit organizations. Customers and associates raised an additional $70 million at stores and clubs.