Wal-Mart Stores Inc (WMT)

BENTONVILLE, Ark., Feb. 5 /PRNewswire-FirstCall/ -- Just in time for tax checks, Walmart (NYSE: WMT) is bringing customers a new low-cost option for cashing checks in Connecticut.  Walmart stores statewide will now offer low-cost check cashing on payroll, government-issued and tax refund checks. Walmart will celebrate the official kick off of check cashing in Connecticut with a Feb. 5 community event at the Walmart on Flatbush Avenue in Hartford.

(Logo:  http://www.newscom.com/cgi-bin/prnh/20100205/DA50527LOGO)

"Providing our customers affordable options to manage their money is important. We know that waiting days for a check to clear the banking system is not an option for many families," said Scott Sandlin, senior director, Walmart Financial Services. "Walmart's check cashing services provide customers instant access to their funds while saving them money."

The cost to cash checks will be 1 percent for checks under $300, $3 for any amount up to $1,000 and a maximum fee of $6.*  Walmart prices could mean significant savings for those cashing larger checks such as tax refunds when compared to other check cashing outlets.

Walmart received approval from the Connecticut Department of Banking to begin providing check cashing services at all 33 of its Connecticut stores on Jan. 25.

Everyday Ways to Save on Financial Services

Walmart is a leading provider of accessible and affordable financial services that help customers manage their money throughout the year, including money transfer, bill payment and the Walmart MoneyCard.

    --  Money Transfers -- Use MoneyGram® to send money to friends and family
        around the world in 10 minutes, for a great low fee.
    --  Walk-in Bill Pay -- The Walk-in Bill Payment and Same Day Bill Payment
        pricing structure gives customers control of when they pay a bill and
        how much they spend to make the transaction.
    --  Walmart MoneyCard -- A reloadable, pre-paid Visa debit card, for only
        $3. American families underserved by traditional financial institutions
        can have many of the advantages of a checking account, including
        depositing their paychecks on a safe and secure card, checking their
        balances, paying bills and shopping anywhere Visa debit is accepted. The
        Walmart MoneyCard has no overdraft fees.

"We know people work hard for their money," said Sandlin. "That's why our low-cost money services are designed to help them keep more of what they make."

Kick-off Event Includes Donation to United Way

Walmart Financial Services executives, Hartford community leaders and store associates will celebrate the kick off of check cashing in Connecticut from 11 a.m. to 1 p.m. on Friday, Feb. 5. In recognition of this milestone, the Hartford store will contribute $1,000 to the United Way of Central and Northeastern Connecticut to help families become more financially stable.

"This generous grant from the Walmart will help our United Way assist hard-working families in our region along the path to financial stability," said Susan Dunn, president and CEO of United Way of Central and Northeastern Connecticut. "The grant allows us to continue to support programs that show our lower-income, working neighbors how to find resources and manage them effectively in these challenging economic times."

Kick-off activities planned throughout the event include the donation presentation, refreshments and Walmart MoneyCard giveaways.  

About Walmart

Every week, millions of customers visit Walmart stores, Neighborhood Markets, and Sam's Club locations across America, or log on to its online store at www.walmart.com. The company and its Foundation are committed to a philosophy of giving back locally.  Walmart (NYSE: WMT) is proud to support the causes that are important to customers and associates in their own neighborhoods, and last year gave more than $378 million to local communities in the United States. More information about Walmart can be found by visiting www.walmartstores.com.

*Walmart charges no more than $6 on checks up to $5,000.  Checks over that amount cannot be cashed at Walmart stores.

SOURCE Walmart