Approximately three years ago, Walmart (NYSE: WMT) introduced a new money transfer service known as Walmart2Walmart. The service, which is powered by Ria, was developed with the goal of providing customers with money transfers at a lower cost. Since the program’s launch, Walmart customers have saved almost half a billion dollars in transfer fees. On April the 26th, Walmart, along with Ria Money Transfer and American Express, announced more improvements to the service. The goal of the enhances is to help consumers keep even more money in their wallets. For instance, the company has decided to slash prices for its Walmart2Walmart money transfer service.
The new fees, which went into effect on April 26, give customers the opportunity to save as much as 20 to 90 percent on cash transfers when compared to leading competitors. Simultaneously, the company offers transparent pricing, so customers will know what they’ll pay well in advance. Also, Walmart and American Express have partnered to provide customers with the opportunity to transfer money digitally. The Bluebird2Walmart Money Transfer Service, which will begin in May, allows Bluebird accountholders to digitally send money to Walmart stores. Then, that money can be picked up by the intended receiver.
Current accountholders can begin using the service by visiting Bluebird.com right now. They can also use the service through the Bluebird mobile app. Receivers do not need to have a Bluebird account. Instead, they’ll be able to pick up the money at any Walmart store within a matter of minutes. Those interested in learning more about Walmart’s money transfer services should check out their latest press release.