Walmart offering cash pickup option for tax refunds

Bentonville, Ark. -- In its newest move to offer more in-store financial services, Walmart is offering shoppers the option to pick up their tax refunds in cash. The new service, called Walmart Direct2Cash, is available nationwide starting Jan. 20.



According to Walmart, the option will help customers save time and money when compared to traditional tax refund options. Many people without traditional bank accounts must pay sometimes high check-cashing fees to cash their tax refund checks, the retailer noted.



“We know tax refunds can be one of the largest financial payouts of the year for many of our customers, and the last thing they want is to wait for their refund check to arrive and then spend money on unnecessary fees – in many cases upwards of $70 – to cash it,” said Daniel Eckert, senior VP of services for Walmart U.S. “By skipping the check and choosing this new service, customers will not only save time, but also keep some extra cash in their pockets – two things Americans can always use more of.”



Walmart is working with Tax Products Group (TPG), a Green Dot Company, and Republic Bank & Trust Company, member FDIC, two providers of tax-related financial products. The two companies have more than 25,000 tax-preparation locations in Walmart stores and other locations. Customers who use any of these tax prep locations can choose the Walmart Direct2Cash option. They will receive a confirmation code for their federal and/or state tax return through an email from TPG or Republic Bank as soon as their refund is ready to be picked up.



Customers will then go to the Walmart MoneyCenter or customer service desk at their local Walmart store, show their confirmation code, confirm their identity, and then receive their refund in cash. Refunds up to $7,500 are eligible for this program.



The tax preparation locations may provide the service for no additional fee or charge a maximum of $7 at the time of filing. Walmart is not charging customers a fee for the cash pickup refunds.