What services do Wal-Mart MoneyGram rates cover?


Quick Answer

Wal-Mart MoneyGram rates cover money transfer services. While MoneyGram transfers can be international or national, Wal-Mart transfers are limited to national Wal-Mart stores only. However, both services accept payment through cash or debit cards.

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Full Answer

As of 2015, Wal-Mart has recently launched its Wal-Mart-2-Wal-Mart money transfer service, which is currently limited to transfer money from one Wal-Mart in the United States to another. The service was started after a partnership with financial services firm Ria. However, being a new money transfer service and having limited geographic availability, Wal-Mart is fairly behind a number of its competitors.

MoneyGram on the other hand is not limited by the number of outlets, since it mostly operates through partnered banks. Being a relatively older money transfer service, MoneyGram can be used for international money transfers and has a wider range of payment options for its customers. However, Wal-Mart offers better transfer rates than MoneyGram. This should result in great success for Wal-Mart, whose mission is to provide affordable services. The new move means that MoneyGram may lose a substantial amount of business by operating through Wal-Mart, store locations. On the other hand, Walmart may finally be able to gain more than 1 percent in revenues from its financial services divisions.

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