Walmart is lowering the cost of sending money to Mexico, making it easier for its customers to ship remittances from the U.S., the company announced Thursday.
Customers can send money from any Walmart store in the United States to any Walmart store in Mexico, through the Walmart2Walmart money transfer program, according to the company.
The cost is $2.50 USD per transaction. According to Walmart, the cost is at least 50% lower than what other companies charge for this service.
“We are excited to offer Walmart customers a convenient new way to send money to their loved ones in Mexico at an incredibly low price. Our low-cost fee strategy demonstrates our commitment to continue to improve the financial well-being of our customers around the world," said Julia Unger, Walmart's vice president of Financial Services, in a statement.
It should be noted that Walmart's announcement is based on the Walmart2Walmart money transfer service between the United States and Mexico that first launched in 2016.
According to Walmart, the service was suspended in 2018 while it invested in lowering prices and improving infrastructure to enhance the service of sending remittances.
For more information about the service to send money to Mexico, click here .