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Walmart celebrated the grand opening of its 1,000th Walmart MoneyCenter in Chalmette, La., this week as it gears up to add another 500 locations this year.
“Walmart MoneyCenters are a cornerstone of our business and were specially created to give customers a welcoming environment where they can save when they cash checks, pay bills and transfer money,” said Jane Thompson, president, Walmart Financial Services. “Customers ask when their stores will get a Walmart MoneyCenter, so we are delighted to announce the expansion into approximately 500 more stores.”
Walmart MoneyCenters are dedicated spaces within the store that offer customers an inviting, safe and convenient place to handle their basic financial needs seven days a week. With the anticipated expansion into 500 more stores this year, there will be Walmart MoneyCenters in about 40 percent of Walmart's 3,763 stores nationwide.
Company estimates indicate that customers saved $450 million in fees last year by using money services at Walmart.
“Our customers love the convenience of one-stop shopping with money services at Walmart prices,” said Rosalind Brewer, EVP and president, Walmart South. “Walmart MoneyCenters play a very important role in helping families save money so they can live better,” added Brewer, noting that the services include:
—Check Cashing: With Walmart check cashing, customers can conveniently cash payroll or government checks, including tax-refund checks, starting at $3
—Bill Payment: Walmart offers three-day, next-day and same-day bill payment delivery options, with prices starting at 88 cents
—Money Transfers: Customers can use MoneyGram to send money to friends and family around the world in minutes, for a low fee
—Walmart MoneyCard: The Walmart MoneyCard is a reloadable, pre-paid Visa debit card, available for $3. American families underserved by traditional financial institutions can have many of the advantages of a checking account, including depositing their paychecks on a safe and secure card, checking their balances, paying bills and shopping anywhere Visa debit is accepted. The Walmart MoneyCard has no overdraft fees.