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April 19, 2014

Chickasha Wal-Mart offering money transfer service

— Chickasha Wal-Mart customers will be able to transfer money between Wal-Mart stores beginning April 24.

The store is providing the new Walmart-2-Walmart service to more than 4,000 stores across the U.S. in partnership with Ria Money Transfer.

Wal-Mart customers will be able to transfer $50 or less for $4.50 and between $50 and $900 for $9.50 when the new service is implemented, according to a press release.

Chickasha Wal-Mart Front Manager Samantha Peterson said the store's current fee for transferring money, via MoneyGram and Xoom, is $4.75 for transfers less than $50, with the price increasing by $20 for every $200 added to the transfer.

"After listening to our customers complain about the high fees and confusion associated with transferring money, we knew there had to be a solution," said Wal-Mart Senior Vice President of Services Daniel Eckert.

Wal-Mart spokeswoman Molly Blakeman said the person making the transfer will provide a question that the recipient answers when they pick the money up.

Peterson said the Chickasha store completes between 75 and 100 transfers per day on average.

Approximately 28 percent of Americans rely on money transfers to maintain their budget or send money to friends and family because they either don't have a bank account or have little access to bank services, according to the press release.

Military personnel and oil field workers tend to use money transfer services the most according to the release.

"[The new service] will probably be easier because [money recipients] know exactly where they're going to get it," Peterson said.

Customers will be able to use the new service, as well as money orders, check cashing and other services, from customer service desks.


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