updated - October 1, 2020 Thursday EDT
Wal-Mart's team up with Ria Financial Services is expected to assist Wal-Mart customers in sending money on a domestic basis from or to the retailer's locations when it begins April 24 a press release reported Thursday.
"After listening to our customers complain about the high fees and confusion associated with transferring money, we knew there had to be a solution," Daniel Eckert, senior vice president of services for Walmart U.S.
"Walmart-2-Walmart brings new competition and transparent, everyday low prices to a market that has become complicated and costly for our customers. We're doing what we do best - launching a new service that challenges the status quo and drives down prices for our customers," Eckert said in a statement.
Customers sending amounts ranging anywhere from zero to $50 will be able to do for, $4.50, 25 cents less expensive than other retailer's prices of $4.75 to $5.00 the press release reported.
Those sending amounts ranging from $50 to $200, $400 to $500, $600 to $700, or $800 to $900 can do so for $9.50.
The $50 to $200 range is less than other places $11 to $12 cost. The $400 to $500 amount is less than those that cost $34.50 to $40 with the $600 to $700 totaling less than businesses that have the service available for between $46 and $58. The $800 to $900 range is less than a $57 to $76 range the press release reported.
"We believe the combination of Walmart's existing footprint, with Ria's high-quality service, and our shared focus on the customer is what makes Walmart-2-Walmart a true differentiator and stand apart from other services on the market," Juan Bianchi, chief executive officer of Ria Money Transfer said in a statement.
"Walmart-2-Walmart isn't just another money transfer service. It provides customers the best value with the speed and security they expect," Bianchi said in the statement.
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