Tax Return Service In Walmart – Does Walmart Cash Tax Refund Checks
Does Walmart cash tax return checks: Walmart has been a leading store in retail sector. It has entered in financial services and expanding it. Here we will discuss on tax return service of Walmart. It has opened MoneyCenters and offers many bank services too through GoBank. It has also offered tax refunds up to $7,500 that’s too in cash. This will be offered in around 3000 stores across US. Additional benefit is that customers will not be charged for the same.
For this service, customers filling tax through paid prepare electronically, will be eligible. On the other hand, individuals preparing and filing their own tax will not be eligible. Tax preparers will be charged $7 fee at the time of filing. It is also important to note that Walmart charges $3 for cash paper checks under $1,000 and $6 for checks up to $7,500.
Tax preparation service has been offered by Walmart in many of its own stores. Jackson Hewitt, a tax preparation chain, is associated with Walmart for long time. Jackson Hewitt has many stalls in Walmart stores. Now when Walmart has started the tax refund services it has now also tied up with Green Dot’s TaxProducts Group and the Republic Bank and Trust Company. This tie up will provide custmers many tax related services including tax preparations.
Walmart knows it exactly that tax refunds is highest payout that its customer gets in a year which usually exceeds regular checks. It is also important to note that tax refund season is the same duration when store like Walmart has very less sales. Hence walmart thinks these cash refunds can be converted in to immediate sales.
Most of the customers of Walmart are unbanked due to high fees for bank accounts. According to Walmart once the tax is filed electronically, it will take around a week for customers to receive tax refund. This is almost the same time for the tax payer if he chooses to pay through bank account. Hence what Walmart is doing is that, it is helping out its major customers with their banking needs that is for sure to increase customers loyalty towards the stores and in return increases the sales too.
Other financial services offered by Walmart
Walmart also launched money transfer service in 2014. According to the company, this service will be a graet help to its low income customers and they will have to pay around 40% less as compared to other service providers.
In the same year in autumn, Green Dot that is expert in offering prepaid cards that can be reloaded started offering Walmart customers with mobile checking accounts.
Walmart also got associated with a vendor and started helping its customers to compare health insurances in its store.
Walmart, after leading in the retail sector is doing really well in financial services. Its main target is its low income customers, to whom they want to provide banking services at really affordable prices. In return the customers will surely have their loyalty to the store and hence the sales will also go up. Both the sides are getting benefits, what is better than this.
More Related Queries:
- does walmart cash tax refund checks 2017
- where is my tax refund
- tax return service in walmart