Walmart Expands Check, Card Cashing Services
Payroll, eligible government benefit cards cashed to the penny
BENTONVILLE, Ark.--Wal-Mart Stores Inc. has announced expanded check cashing and card cashing services at Walmart stores nationwide, including the ability to cash a payroll and eligible government benefits card to the penny.
The expansion includes cashing most types of preprinted checks up to $5,000 and accepting more forms of ID for check cashing, as well as establishing Express Check Cashing checkout 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, [image-nocss] 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."
Walmart already cashes these types of checks: Payroll, government and tax refund.
With the latest announcement, Walmart now cashes most types of preprinted checks. Examples include rebate, student loan, 401k, retirement, loan, IRA, pension, expense, insurance, MoneyGram money orders.
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.
The new 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.
Walmart will begin offering designated Express Check Cashing checkout lanes at more than 650 stores during peak hours. Recommended hours are 4:00 to 8:00 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 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, prepaid 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.
Bentonville, Ark.-based Wal-Mart Stores serves customers and members more than 200 million times per week at more than 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.