Walmart Introduces New Money Transfer Service Walmart2World
Four years ago, Walmart had introduced Walmart2Walmart – a domestic money transfer service that offered lower costs. Now, with MoneyGram International, Walmart is bringing its new model to the global wire service market, with the launch of Walmart2World.
Scheduled to launch in all of Walmart’s 4,700 U.S. stores this month, the company says three key features differentiate Walmart2World from other global wire service offerings:
Pricing Structure: Wherever you are in the United States, and to wherever you are sending money, the fees for Walmart2World are the same – $4 to send up to $50, $8 to send $51 to $1,000, and $16 to send $1,001 to $2,500. This is unlike other international transfer services that change the fee to transfer money based on where sender and/or receiver are located, the company says.
Exchange Rates: Walmart claims it is committed to ensuring customers receive a more competitive foreign exchange rate when transferring money using Walmart2World.
Worldwide Network: Compared to other international wire services that can take up to three days, Walmart2World promises it will deliver funds in 10 minutes or less, whether the receiver opts to pick up the money at any one of MoneyGram’s agent locations in 200 countries, or an international bank or mobile wallet account.
In addition to saving money, according to Walmart, customers using Walmart2World can also save time by using Mobile Express Money Services in the Walmart App.
After a quick, one-time set-up, customers initiate their transfer from the Walmart App, and once at the store, fast-track through the Mobile Express Lane to quickly complete their transaction.
Receipts and transaction details are saved electronically, helping to make future transactions even faster and easier, the company says.