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Walmart launches global money transfer service

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Walmart2World will allow transfers to 200 countries

BENTONVILLE, Ark. — Walmart announced on Tuesday the launch of Walmart2World, a global money transfer service featuring money orders from MoneyGram International Inc., the nation’s largest provider of money orders. Walmart is MoneyGram’s money transfer and money order agent, accounting for more than 20% of its business.

The move builds on the retailer’s domestic money transfer service, Walmart2Walmart.

“We think sending money should cost the same regardless of where you send it; that’s why we’ve designed a brand-new global wire service to send money to 200 countries with a consistently low fee,” said Kirsty Ward, vice president of Walmart Services. “There are millions of people sending money around the world to help loved ones with everyday needs or in times of emergency. Walmart2World, Powered by MoneyGram, helps customers get money to family and friends across the world in minutes, and the new low fees mean more of their hard-earned cash goes where it’s needed most.”

The service will be introduced this month at all 4,700 Walmart stores in the United States. Walmart identified Walmart2World’s advantages as:

  • A unique pricing structure. Customers in the United States pay the same fees regardless of where the money is being sent. The fee is $4 for amounts to $50; $8 for amounts larger than $50 and up to $1,000; and $16 for amounts larger than $1,000 to $2,500.
  • Competitive exchange rates. Another source of savings for customers of Walmart’s money transfer services.
  • Rapid delivery through a worldwide network. While competing services can sometimes take up to 72 hours to transfer funds, Walmart2World 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.

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