Wal-Mart Jumps Into the Money Transfer Biz, Loudly

“The Walmart-2-Walmart service is being rolled out in partnership with Ria Money Transfer, a subsidiary of Euronet Worldwide Inc.  Shares of money-transfer companies MoneyGram and Western Union slid Thursday.  The service, which will be available starting April 24, allows its customers to transfer up to $900 to and from more than 4,000 Wal-Mart stores in the U.S.  Customers can transfer up to $50 for a $4.50 service fee and up to $900 for $9.50.  Comparable services elsewhere cost up to $70 when transferring less than $1,000.  Western Union on its website puts the price of transferring $900 in New York between $20, if using a bank account, to $85 if using a credit or debit card.”

http://abcnews.go.com/Business/wireStory/wal-mart-joins-ria-money-transfer-service-23359852?singlePage=true

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