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24/7 Wall Street reports that Walmart will begin "cutting fees beginning today on its Walmart2Walmart money transfer service," by as much as 20 to 90 percent. "Next month the company plans to introduce another transfer service, Bluebird2Walmart. Both programs allow the store's customers to send money to another Wal-Mart location in the United States and Puerto Rico where the recipient can present identification and pick up the cash."

"According to Wal-Mart, it will now cost $4 to send $50 to another store, $8 to send $250 to $1,000, and $16 to send $1,250 to $2,500. Comparable rates at Western Union Co. are $5 to send $50, $12.50 to $86 to send $250 to $1,000, and $25 to $176 to send $1,250 to $2,500."

The Bluebird2Walmart service is said to be "an extension of Wal-Mart's Bluebird service offered in conjunction with American Express Co. This service requires that a consumer establishes a Bluebird account with Wal-Mart. Receivers do not need a Bluebird account to pick up the transferred money at a nearby Wal-Mart store."
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