Walmart Adding 500 More MoneyCenters Nationwide In 2010

While banks have spent the last two years consolidating and closing, it looks like people have been turning elsewhere for their financial services. Walmart — you might have heard of them — just opened up their 1,000th in-store MoneyCenter and have announced they’re rolling them out to 500 more locations before the end of 2010.

That means that there will soon be MoneyCenters in around 40% of Walmart’s 3,763 locations.

For those unfamiliar with MoneyCenters, it’s basically just a place where you can cash a check (for a minimum of $3), pay your bills (for a minimum of $.88) and make wire transfers (for a “great low fee,” though I’m sure some would differ on the meaning of “great”).

It’s also where you can get yourself a Walmart MoneyCard. That’s the store’s pre-paid Visa debit card, which will cost you $3 to start, $3 a month in “maintenance fees,” and will cost you $3 each time you add money to the card, unless you’re cashing a check.

Have you had any experiences with Walmart MoneyCenters or the MoneyCard? How did it compare to your experiences at banks and check cashing stores?

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