Walmart Offers New Low-Price Fee On Money Transfers To Mexico

(RTTNews) - Walmart Inc. (WMT) announced Thursday new low-price fee to send money to Mexico through its Walmart2Walmart money transfer program.

Customers can now send money from any Walmart store in the U.S. to any Walmart store in Mexico for as little as $2.50 per transaction, at least 50% lower than similar offerings on the market.

The company said it aims to provide more inclusive and affordable financial solutions for all customers, including unbanked or underbanked households that rely on services like wire transfers for everyday money management.

The original Walmart2Walmart money transfer service between the U.S. and Mexico was launched in 2016, but the service was paused in 2018.

Walmart noted that with remittances to Mexico up over 27% in 2021, the relaunch of Walmart2Walmart Mexico is timely, enabling customers to use Walmart's large network of stores to send money quickly and inexpensively.

Juan Bianchi, CEO of Euronet's Money Transfer Segment, said, "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."