What Is Walmart-2-Walmart In 2023? (A Convenient and Low-Cost Way to Transfer Money)
Walmart-2-Walmart is an affordable money transfer service offered at over 4,600 Walmart and Neighborhood Market stores across the United States. It allows customers to conveniently send funds to any Walmart location nationwide without needing a bank account. Read on for a detailed overview from an ecommerce expert on how Walmart-2-Walmart works, its benefits, and tips to use the service successfully.
An Easy Way to Transfer Money Without a Bank
In short, Walmart-2-Walmart provides a way for customers to transfer money domestically from one Walmart store to any other Walmart store in the U.S. There are more than 4,600 participating Walmart and Neighborhood Market stores, making it widely accessible.
It is a partnership between Walmart and Ria Money Transfer. With Walmart-2-Walmart, you can send funds up to $900 for affordable fees starting at $4.50. The recipient can pick up the cash transfer in minutes.
The major benefit is Walmart-2-Walmart allows anyone to conveniently and quickly send money without needing bank accounts on either end. It provides an essential service for unbanked and underbanked individuals.
How Walmart-2-Walmart Transfers Work Step-By-Step
Using Walmart-2-Walmart to transfer money is easy. Follow these steps:
Go to the MoneyCenter or Customer Service desk at a participating Walmart location. Confirm your store offers Walmart-2-Walmart using the store locator tool.
Fill out the Send Money form with the amount you want to transfer, the recipient‘s full name, and the destination state where they will pick up the funds.
Pay for the transfer with cash or debit card at the counter. Walmart does not accept checks or credit cards for this service.
The associate will process the transaction and provide a reference number. You will pay the associated fee based on the transfer amount.
The money is then available within minutes for the recipient to pick up at any Walmart store in the state you designated.
The recipient goes to the Walmart, provides photo ID and the reference number, and can collect the cash.
It‘s a convenient way to send funds quickly without going through a bank or formal money transfer service. The cash is available for pick-up shortly after initiating the Walmart-2-Walmart transfer.
Walmart-2-Walmart Fees and Limits
Walmart-2-Walmart charges affordable fees, which is one of its major benefits compared to other money transfer options. The fees are:
- $4.50 for transfers up to $50
- $9.50 for transfers between $50 and $900
The maximum amount allowed per transfer is $900.
To compare, here are the fees at competitors for sending a $200 transfer:
| Money Transfer Service | Fee for $200 Transfer |
|---|---|
| Walmart-2-Walmart | $9.50 |
| Western Union | $12 |
| MoneyGram | $11.50 |
As you can see, Walmart-2-Walmart is an affordable option, especially for smaller money transfers. The convenience of widespread Walmart locations makes this a useful service.
The Business Strategy Behind Walmart-2-Walmart
Walmart launched Walmart-2-Walmart back in 2013 as part of its strategic expansion into financial services. It also helps attract the large underbanked population in the U.S.
According to FDIC data, approximately 25% of U.S. households are underbanked, meaning they use services like check cashing or money orders instead of traditional banks. Walmart introduced this service as an affordable option to meet the needs of those individuals.
Additionally, it helps drive foot traffic into Walmart stores and provides a point of differentiation from competitors. Offering convenient financial services has been a way for Walmart to stand out while also making money through fees and bringing customers in-store.
How I Use Walmart-2-Walmart in My Ecommerce Business
As an experienced ecommerce business owner, I occasionally use Walmart-2-Walmart myself to transfer funds or pay suppliers. For instance, when I purchase excess wholesale inventory, I can use Walmart-2-Walmart to pay my suppliers thousands of dollars in cash pickup instead of expensive bank wires or certified checks.
The affordable fees and convenience make Walmart-2-Walmart helpful for small business purposes like transferring inventory capital or fulfilling supplier payments across states. And I appreciate that no bank is required, since some wholesale suppliers prefer cash.
Experts Recommend Walmart-2-Walmart For:
Financial experts and consumer advocates recommend Walmart-2-Walmart money transfers particularly for:
Unbanked consumers – Approximately 8 million U.S. households do not use banks at all. Walmart-2-Walmart gives them an essential financial service.
Underbanked households – The 25% of households with limited banking access also rely on options like Walmart-2-Walmart for money transfers.
Urgent payments – Walmart-2-Walmart transfers complete rapidly, making it useful when you need to send funds ASAP.
Lower income households – The relatively low fees make it affordable compared to formal wire services or companies like Western Union.
Rural areas – Households in rural locations far from banks can conveniently access Walmart-2-Walmart for financial transactions.
Domestic transfers – Walmart-2-Walmart only operates within the U.S., so it meets a need for affordable domestic money movement.
Tips for Avoiding Issues and Using Walmart-2-Walmart Smoothly
To ensure your Walmart-2-Walmart money transfer goes smoothly, keep these tips in mind:
Confirm the nearest Walmart locations for both you and the recipient offer the service. Not all Walmart stores have MoneyCenters.
Know the maximum allowed transfer amount ($900) as well as the fee schedule. Bring enough cash or available debit card funds to cover the total.
Always have photo ID ready when initiating and picking up transfers. Approved IDs include driver‘s licenses and passports.
Get and save the transfer reference number. This will be needed by the recipient to pick up the cash.
Keep your transfer receipt as well in case you need to contact Walmart about status.
Pay with a debit card or cash. Walmart does not accept credit cards or checks for Walmart-2-Walmart.
If needed, you can check the transfer status online via Ria‘s website for confirmation it went through.
Communicate transfer details and remind the recipient to bring ID. Set expectations on when cash will be ready.
Know the closest alternate Walmart locations in case needed for pickup problems or issues.
Convenient, Low-Cost Money Transfers at Your Local Walmart
Walmart-2-Walmart provides customers with an easy, affordable option to transfer money to anyone via widespread local Walmart stores. It fills an important niche for those without traditional bank accounts or in need of quick, domestic money movement.
Next time you need to securely send funds, consider using Walmart-2-Walmart for its convenience and transparency. Just visit the nearest Walmart store‘s MoneyCenter or Customer Service desk. Remember to bring ID, know the fees and limits, and follow the tips above for a smooth transaction.
