Money services customers saved $450 million last year
BENTONVILLE, Ark. (March 16, 2010) – Walmart (NYSE: WMT) today celebrated the grand opening of its 1000th Walmart MoneyCenter and announced plans to add Walmart MoneyCenters in 500 additional stores this year. The 1000th Walmart MoneyCenter, located in Chalmette, La., gives customers affordable solutions on basic money services, including the Walmart MoneyCard.
“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 inside 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 approximately 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.*
Walmart MoneyCenter Services
“Our customers love the convenience of one-stop shopping with money services at Walmart prices,” said Rosalind Brewer, executive vice president and president, Walmart South. “Walmart MoneyCenters play a very important role in helping families save money so they can live better.”
Walmart is a leading provider of affordable money services that help customers manage their money and keep their finances on track.
- 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 great low fee.
- Walmart MoneyCard – The Walmart MoneyCard is a leading reloadable, pre-paid Visa debit card, available for the low price of only $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.
1000th MoneyCenter Celebration
To mark the opening of the 1000th Walmart MoneyCenter, Walmart is hosting a community celebration in Chalmette, La., and making a $10,000 donation to the Community Center of St. Bernard.
The center provides an extensive range of services to St. Bernard Parish, an area that suffered widespread devastation from Hurricane Katrina. The center’s offerings range from legal aid to food to after-school programs, and include financial literacy classes to help families learn money management and take control of their finances.
Scott Miller, Walmart regional general manager, said, “We are very happy to support the Community Center in helping the families of St. Bernard Parish.”
To extend the celebration of the opening of the 1000th Walmart MoneyCenter, $1,000 donations are also being made to groups that promote financial literacy in Atlanta, Birmingham, Ala., Charlotte, N.C., Dallas, Houston, Orlando, Fla., Phoenix, Raleigh, N.C., and St. Louis.
Every week, millions of customers visit Walmart stores, Neighborhood Markets, and Sam’s Club locations across America, or log on to the online store at www.walmart.com. The company and its Foundation are committed to a philosophy of giving back locally. Walmart (NYSE: WMT) is proud to support the causes that are important to customers and associates in their own neighborhoods, and last year gave more than $378 million to local communities in the United States. More information about Walmart can be found by visiting www.walmartstores.com.
*Savings figures are based on Walmart’s internal research and projected savings when Walmart’s basic money services are compared to major national competitors. Basic money services include: check cashing, bill pay, money transfers, money orders and the Walmart MoneyCard.
- Walmart information online: www.walmartstores.com; merchandise sales: www.walmart.com