BENTONVILLE, Ark.--(BUSINESS WIRE)--Three years ago this week, Walmart introduced its groundbreaking money transfer service, Walmart2Walmart Powered by Ria, with the goal of bringing customers dramatically lower costs and a simpler money transfer experience. Since that time, Walmart’s customers have enjoyed nearly half a billion dollars in fee savings through using this service, putting more hard-earned money back into their pockets.
Today, Walmart – together with Ria Money Transfer and American Express – announced further improvements to the service, with the ambition of helping customers save even more money, along with time.
Lowest-Ever Prices on Domestic Transfers
Despite already offering some of the industry’s lowest prices on money transfers, Walmart is slashing prices again on its Walmart2Walmart money transfer service. The new fees, available beginning today, allow customers to save 20 to 90 percent on cash transfers versus the leading competitor.(1)
Walmart2Walmart offers transparent national pricing in all Walmart stores, as opposed to other leading competitors, who often vary prices location by location:(2)
| Send |
Leading National Competitor |
Walmart2Walmart | Customers Save* | ||||
| $50 | $5 | $4 | $1 | ||||
| $250 | $12.50 or $24 | $8 | $4.50 or $16 | ||||
| $500 | $12.50 or $40 | $8 | $4.50 or $32 | ||||
| $1,000 | $12.50 or $86 | $8 | $4.50 or $78 | ||||
| $1,250 | $25 or $111 | $16 | $9 or $95 | ||||
| $2,500 | $50 or $176 | $16 | $34 or $160 | ||||
*See www.walmartmoneytransfers.com for price comparisons
Easy Mobile Money Transfers via Bluebird
Also, beginning in May, Walmart and American Express will introduce the Bluebird2Walmart Money Transfer Service,(3) which allows accountholders of Bluebird – a checking and debit alternative – to digitally send money for cash pickup at Walmart store locations. Accountholders can access the new service by visiting Bluebird.com or by using the Bluebird app on their smartphone.(4) Money receivers do not need a Bluebird Account; rather, they can simply pick up their funds at any Walmart store within minutes of the online transfer.(5) 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. 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,” said Kirsty Ward, vice president, Walmart Services. “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.”
Today’s announcement is the latest way Walmart is bringing a new kind of ease and convenience to wire services. Earlier this year, Walmart announced enhancements to the Walmart app to create a faster, easier and more convenient experience for money transfer customers. The new capabilities, which began rolling out to Walmart stores in March, enable app users to use a designated express lane in stores.
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 pre-paid card programs, as well as Walmart.com Pay with Cash.
For more information, please visit: www.walmartmoneytransfers.com.
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 11,593 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 2.4 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 registered trademark of Continental Exchange Solutions, Inc., dba Ria Financial Services, together with its global money transfer affiliates, compose the Money Transfer Segment of Euronet Worldwide, Inc. (NASDAQ:EEFT), a global provider of electronic payment and transaction processing solutions. Ria offers fast, secure, affordable money transfers through a network of approximately 321,000 locations in 148 countries and online at www.riamoneytransfer.com. Ria is steadfast in its commitment to its customers and is a vital member of the communities in which they live. For more information, visit www.riafinancial.com and www.riamoneytransfer.com.
About American Express
American Express is a global services company, providing customers with access to products, insights and experiences that enrich lives and build business success. Learn more at americanexpress.com and connect with us on facebook.com/americanexpress, foursquare.com/americanexpress, linkedin.com/company/american-express, twitter.com/americanexpress, and youtube.com/americanexpress
(1) Savings based using Walmart2Walmart Powered by Ria compared to Western Union’s offer of send in person for cash pickup at an agent location with service within minutes. Savings valid as of April 11, 2017 and may change. Check competitor’s website for current prices.
(2) Price does not include state taxes.
(3)The Bluebird2Walmart Money Transfer service is provided by Ria (defined below) pursuant to Ria’s Terms and Conditions and Ria’s Privacy Policy and the Bluebird® by American Express Member Agreement. Pickup is available in all 50 United States and Puerto Rico. The daily money transfer limit is $2,500 across all of your Bluebird Accounts, and a per-transaction limit of $499.99 applies to money transfers picked up in Arizona. A fee of $4 for each money transfer up to $50, $8 for each money transfer of $50.01- $1,000, and $16 for each money transfer of $1,000.01-$2,500 applies. Other limits and terms and conditions apply. Visit bluebird.com/moneytransfer for complete details.
Ria is the licensed money transfer operator for all Walmart2Walmart domestic money transfer transactions and Bluebird2Walmart money transfers. Walmart acts as the authorized agent of Ria. Ria is a registered trademark of Continental Exchange Solutions, Inc. dba Ria Financial Services, licensed as a Money Transmitter by the Department of Financial Services of the State of New York; licensed by the Georgia Department of Banking and Finance, NMLS ID 920968, LICENSE NUMBER 18943; and authorized independently or through its affiliate, Ria Financial Services Puerto Rico, Inc. OCIF LICENSE NUMBER TM-031, to operate as a Money Transmitter in all United States’ jurisdictions where it conducts business.
Bluebird is issued by American Express Travel Related Services, Company, Inc., 200 Vesey Street, New York, NY 10285, licensed as a money transmitter by the New York Department of Financial Services and financial regulators in other states. Terms and conditions apply; certain fees, surcharges may apply; registration and identity verification required to access all Bluebird features and benefits. Visit bluebird.com for details.
(4) Data rates may apply.
(5) Subject to store hours and compliance with regulatory requirements.
