Dive Brief:

• Wal-Mart Stores Inc. announced a new service where customers can pick up their income tax refunds, up to $7,500, in cash at any Wal-Mart store in the U.S.

• The service would function much like when filers get their refunds via direct deposit. Those without bank accounts can take advantage of the service without incurring much higher check-cashing fees.

• Wal-Mart charges flat fees for its own check-cashing service, but won’t for this. This service, offered in a partnership with Tax Products Group, and Republic Bank & Trust Co., will be generally faster than waiting for a paper check from the Internal Revenue Service.

Dive Insight:

With the announcement of this tax refund cash pickup opportunity, Wal-Mart Stores Inc. continues its push to become a well rounded services company for its customers. In addition to this service, customers can access health insurance and health insurance advice, check-cashing services that are less expensive than average, mobile checking accounts, and in Canada, legal services. 

This is a way for the retailer to expand its value to its customers beyond selling them merchandise. And of course, with cash in hand, customers will be ready to spend—conveniently located already at their local Wal-Mart.