Walmart Steps Up Efforts to Help Americans Manage Their Finances with $3 Rollback Price on Key Money ServiceRetailer Expects to Save Customers $500 Million in 2009 and Declares Feb. 18 National ‘Money Management Day’ to Help Customers Get Their Finances Back on Track Attention journalists: click here for broadcast quality B-roll BENTONVILLE, Ark., Feb. 18, 2009 – With more and more families facing financial challenges, Walmart today is stepping up efforts to provide affordable access to essential money services for the growing number of underserved Americans, including the millions who are not using traditional checking accounts to manage their finances. Dubbed “Operation Main Street: Money Management,” the program includes a $3 Rollback price on the Walmart MoneyCard and a focus on financial literacy. Financial Literacy ToolsDownload brochures below Combined, Walmart expects this effort – and its everyday low prices on money services like check cashing, bill payment and money transfers – to help consumers stretch family budgets and save more than $500 million* in money service fees this year. “Now more than ever, our customers continue to trust Walmart to do what we do best – save them money on the products and services they need everyday,” said Eduardo Castro-Wright, vice chairman, Walmart Stores. “Financial issues are the number one concern for our customers, and accelerating our efforts to provide affordable financial services will help them live better.” Even More Affordable Money Services “Customers who use the Walmart MoneyCard tell us that we’re making a difference in their lives and helping them get their finances under control. The reduced fees on the Walmart MoneyCard will save our customers millions of dollars,” said Jane Thompson, president, Walmart Financial Services. “We will continue to lower prices on the money services that we know our customers need.” Focus on Financial Literacy “Today, more than ever, Americans want to stay in control of their daily finances, and reloadable prepaid cards – like the Walmart MoneyCard – can help people better manage their money and spend within their means,” said Bill Sheedy, president, North America, Visa Inc. “Together, the built-in budgeting capabilities of Visa prepaid cards, Rollback pricing and easy access to our free financial management tools will be especially valuable in helping consumers.” In addition, Walmart is bringing financial experts to select stores to provide expert advice and give customers the tools they need to manage their money. Best-selling author of Girl, Get Your Money Straight!, Glinda Bridgforth, and Univision’s financial expert, Julie Stav will meet with customers in Walmart MoneyCenters in Atlanta and Houston respectively to showcase their top money management tips. “For those living from paycheck-to-paycheck, affordable access to basic money services like check-cashing, money transfers and reloadable pre-paid debit cards can be key to getting back on track and having finances that are in order,” said Bridgforth. “Walmart is setting an example and demonstrating how businesses can support – and help – Americans facing financial challenges.” Associate Support The Walmart MoneyCard Advantage Under the new $3 pricing structure, customers will pay a one-time cost of $3 to purchase and activate the Walmart MoneyCard, a $3 charge for reloads at Walmart, and a $3 monthly fee. Even better, many Walmart MoneyCard customers use their card in ways that minimize fees. For example:
The Walmart MoneyCard is accepted at approximately 29 million Visa merchant locations worldwide and can be reloaded at tens of thousands of Green Dot retailer locations. In addition, the Walmart MoneyCard helps customers manage their spending with free daily cell phone or email balance alerts, free balance inquiries at Walmart stores and online transaction history at www.walmartmoneycard.com. Expanding Community Partnerships The Walmart MoneyCard is issued by GE Money Bank, member FDIC, pursuant to a license from Visa, U.S.A. Additional services are provided by Green Dot Corporation (GDC). For additional information on “Operation Main Street: Money Management” and the $3 Walmart MoneyCard, visit www.walmartmoneycard.com or www.walmartstores.com/moneymanagement. For information on the Walmart Foundation and its work with the United Way and One Economy, visit www.walmartfoundation.org. About Walmart Stores, Inc. (NYSE: WMT) ### *Savings figures are based on Walmart’s internal research and projected savings when Walmart’s basic money services are compared to major national competitors. Basic money services include: bill pay, check cashing, money transfers, money orders and the Walmart MoneyCard. **First Manhattan Consulting Group |
