Walmart Offers Low-Price Fee on Money Transfers to Mexico
Walmart has made it considerably less expensive for its customers to send money to Mexico. Shoppers can now send money from any Walmart store in the United States to any Walmart store in Mexico for as little as $2.50 per transaction via the Walmart2Walmart money transfer program – a fee at least 50% lower than similar services on the market, according to the retailer.
The new low fee reflects Walmart’s commitment to providing more inclusive and affordable financial solutions for all customers, including unbanked or underbanked households that depend on services like wire transfers for everyday money management.
“We are thrilled to offer Walmart shoppers a convenient way to send money to their loved ones in Mexico at an incredibly low price,” noted Julia Unger, VP, Walmart Financial Services. “Our low-fee strategy demonstrates our commitment to continue improving the financial well-being of our customers around the world.”
The news builds on the momentum of the original Walmart2Walmart money transfer service between the United States and Mexico, which originally launched in 2016. The service was put on pause in 2018 while the company invested in lowering prices and improving infrastructure to power today’s new service. With remittances to Mexico up more than 27% last year, according to Madrid-based BBVA Research, the relaunch of Walmart2Walmart Mexico enables customers to make use of Walmart’s large network of stores to send money quickly and inexpensively at a time when such remittances are especially in demand.
“We are delighted to collaborate with Walmart on this exceptional service, which provides customers price benefits and easier access to fast, safe and guaranteed money transfers to Mexico,” said Juan Bianchi, CEO of Leawood, Kan.-based Euronet’s money transfer segment. “Thanks to [Euronet subsidiary] Ria’s scalable capabilities, coupled with Walmart’s large footprint, we can help Walmart offer unrivaled value and convenience to Mexicans living in the U.S. and their families back home in Mexico.”
Bentonville, Ark.-based Walmart operates approximately 10,500 stores under 48 banners in 24 countries, and e-commerce websites, employing 2.2 million-plus associates worldwide. Walmart U.S. is No. 1 on The PG 100, Progressive Grocer’s 2021 list of the top food and consumables retailers in North America.
