Walmart launches in-store tax refunds

Wal-Mart is tempting consumers with a unique way to get cash on the spot at Wal-Mart stores. The retail giant has launched a new program, Walmart Direct2Cash.

Walmart will make customers’ tax refunds available in cash at about 3,000 stores in the US.

This service allows consumers to pick up their tax refunds in cash at Walmart instead of waiting for a check, or paying high fees for direct deposit.

Walmart said that it will not charge customers any fee to pick up the cash at its stores, but that tax preparers may charge up to $7 to arrange the payment.

Daniel Eckert, senior vice president of services for Walmart US said this service is intended to help lower-income consumers--who many not have checking accounts--avoid the exorbitant fees often charged by cash-checking stores.

The retail company acknowledged that it could get a boost by helping to put cash in customers’ wallets at a time of sluggish sales and customer traffic declines.