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Wal-Mart to open 1,000 money service centers

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Wal-Mart Stores Inc. announced June 20 that it plans to open 1,000 Wal-Mart MoneyCenters by the end of 2008. The centers will be in a quarter of the retailer’s stores, though specific locations haven’t been announced.

The MoneyCenters will have extended hours seven days a week, offering check cashing, money orders, bill payment, money transfers and prepaid Visa cards.

Wal-Mart currently does more than 2 million money service transactions per week. The new centers will save customers 25 percent to 50 percent over other money service providers, according to a Wal-Mart news release.

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