If you’re someone who regularly sends money abroad to friends and family, the options for wiring money can seem limited.
Traditional banks offer the ability to transfer money but can be expensive and take several days to process. You can wire money online with Walmart but it requires your friend or family member to visit a Walmart location to pick up the cash. Thankfully, TransferWise is changing the way international money transfers work. They offer a cheap and fast alternative to money transfers, making them the best way to wire money. If you’re seeking a quicker and less expensive way to send money internationally, check out TransferWise.
Sending a wire transfer online with Walmart is pretty straightforward. You’ll need to create an online account with MoneyGram in order to process the money transfer request. This is the company Walmart has partnered with to offer wire transfers and other financial services. Or you can head to a local Walmart to request a wire transfer in person.
Search for the nearest Walmart or MoneyGram location by visiting their website. This can also help you determine where the nearest Walmart store is located so your recipient can pick up the funds. In most cases it will be a cash pickup so they will have to go to their nearest Walmart to access the funds. Here’s how the process works.
The first step when trying to wire money with Walmart is to select your recipient. You’ll need their first name, last name and the country where they live. Next, choose the state or province where they’re located.
The next step prompts you to choose how your recipient with will receive the funds. The most common form is a “cash pickup” which is available for pickup at a MoneyGram location, within just a few minutes. On the next screen, you’ll input how much money you want to wire online.
Pressing the “get total” will reveal the various ways you can pay for this transfer, including a bank account or debit/credit card. The transfer fee will be displayed along with the total amount due today for sending money online. The final step is to verify your identity by inputting some personal information. Then you can review the details of your wire and transfer the funds!
The cost for wiring money with Walmart varies, but you can use this link to estimate the exact fees. However, Walmart does share an overall breakdown of their fees according to the service you choose for wiring funds.
Walmart2Walmart transfer fees - $6.50 for up to $800 money transfers to any Walmart within the United States or Mexico
MoneyGram wire transfer fees - $18 for wiring up to $2,500 to friends and family, or 1.2% of the face value for transfers over $2,500
It’s important to note that wire transfer fees are typically lower with Walmart when you use a bank account to fund the transfer. If you pay with a debit/credit card the fees will be slightly higher. Your credit card company may also charge you processing fees and interest if the balance isn’t paid in full.
When sending money for a cash pickup, it can take anywhere from just a few minutes to 3 business days for the funds to be ready. If you fund the wire transfer using a debit or credit card, the funds are usually ready for pickup with a few minutes of completing the transaction. If paid with a checking account, the wire transfer may take up to 3 business days to process.
TransferWise also typically charges between 0.5-1% and there’s no mark-up on the exchange rate - that means you get a far better exchange rate. How much cheaper is TransferWise? Just take a look:
This is from February 2017, learn more about how we calculated it here.
As you can see, sending money to friends and family with Walmart isn’t the most convenient way to send money. But it does get the job done. However, if you’re looking for a better way to send money abroad, consider using TransferWise. Not only does TransferWise make international wire transfers easy and fast, they’re also very inexpensive in comparison. Walmart charges various wire transfer fees, but TransferWise is transparent about the fees they charge. Sign up here to use TransferWise for the best way to send money abroad for less.