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Wal-Mart Stores reduces price of money transfers until Jan. 31

2009-11-20 03:53:03 (GMT) (Caymanmama.com - Business News)

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Atlanta, Georgia (CaymanMama.com) — Wal-Mart Stores Inc. has already dropped their prices for a variety of their inventory including toys, food and technology for the holiday season.

The retail giant is now cutting their charges for money transfers making it less expensive to send money home for the holidays too.

According to Reuters, “Through January 31, U.S. Wal-Mart stores will charge customers a $7 fee to send up to $200 anywhere in the United States or abroad. Previously, the price for a money transfer started at $9 for an international transfer and $11 for a domestic one.”

Wal-Mart offers money transfer services through MoneyGram at its over 3,500 stores in the U.S.

The company’s spokeswoman, Linda Blakley said a high volume of customers prefer to transfer funds from one Wal-Mart store to another.

“Lots of our customers come in and send it to relatives or friends … and the recipients come to the store to pick it up,” she explained.

For the 2009 holiday season, Western Union is rolling out “$50 for $5″ where consumers can transfer up to $50 within the U.S. for a small $5 fee. That program will last through December 26.



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