Walmart Expands Check, Card Cashing Services

USA - English

• Latin America - español

BENTONVILLE, Ark., Aug. 8, 2011 /PRNewswire/ -- Today, Walmart announces expanded check cashing and card cashing services at stores nationwide, including the ability to cash a payroll and eligible government benefits card to the penny.

The expansion includes cashing most types of pre-printed checks up to $5,000 and accepting more forms of ID for check cashing, as well as establishing Express Check Cashing check-out lanes at selected stores during peak hours.

"We are constantly looking for ways to make life better for our customers while saving them money," said Daniel Eckert, head of Walmart Financial Services. "This expanded program now enables Walmart to bring everyday low price cashing services to more customers who have a need for immediate access to their cash."

Check Cashing*

Walmart already cashes these types of checks:

• Payroll
• Government
• Tax refund

With today's announcement, Walmart now cashes most types of pre-printed checks. Examples include:

• Rebate
• Student loan
• 401k
• Retirement
• Loan
• IRA
• Pension
• Expense
• Insurance
• MoneyGram money orders

Cashing Payment Cards

In addition, customers will now be able to cash payroll cards and eligible government benefit cards down to the penny.

"We know more and more of our customers have a need to cash these kinds of cards, and it's important that they're able to gain access to all their cash," said Eckert. "We're excited to be the first major retailer to make it possible to cash these types of cards to the penny and give every cent to the customer, instead of in $10 or $20 increments."

Walmart cashes checks and cards up to $1,000 for $3, and cashes checks up to $5,000 for $6, offering significant savings over many other check cashers.

More Forms of ID

Today's announcement also expands the forms of identification approved for use in check cashing. Walmart already accepts driver's licenses, military IDs and tribal IDs. Now customers can also use state IDs and U.S. passports as identification for check cashing.

Express Check Cashing Lanes

Walmart will begin offering designated Express Check Cashing check-out lanes at more than 650 stores during peak hours. Recommended hours are 4-8 p.m. on Friday as well as the first and 15th days of the month, but individual stores will have discretion to adjust to the needs of their local communities. The designated lanes will be for check and card cashing only.

Walmart Money Services

Walmart is a leading provider of affordable money services to help customers manage their money and save. Products and services include:

• Check and Card Cashing – Customers can conveniently cash approved checks and cards 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, starting at $4.95.
• Walmart MoneyCard – The Walmart MoneyCard is a reloadable, pre-paid debit card  that gives families underserved by traditional financial institutions 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 everywhere Visa or Mastercard debit is accepted. The Walmart MoneyCard has no overdraft fees.

*Because of state restrictions, Walmart does not cash checks in New York, New Jersey or Rhode Island. State statute in Florida sets a $2,000 limit on check cashing. Walmart does not cash personal checks.

About Walmart

Wal-Mart Stores, Inc. (NYSE: WMT) serves customers and members more than 200 million times per week at over 9,200 retail units under 69 different banners in 28 countries. With fiscal year 2011 sales of $419 billion, Walmart employs 2.1 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 www.walmartstores.com, on Twitter at http://Twitter.com/Walmart, and on Facebook at www.facebook.com/walmart. Online merchandise sales are available at www.walmart.com and www.samsclub.com.

SOURCE Wal-Mart Stores, Inc.