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Money Network, Wal-Mart launch no-fee option for check-cashing

April 24, 2006

MEMPHIS, Tenn. - First Data Corp.'s Money Network and Wal-Mart Stores Inc. have teamed to offer a no-fee paycard check-cashing option at more than 3,000 Wal-Mart stores throughout the United States.

According to a news release, through Money Network's TransCheck product, a self-issued check system, paycard clients can provide their employees with immediate and free access to payroll funds.

First Data Commercial Services, Money Network and Wal-Mart say they are filling the gap for employers and employees interested in a paperless-payroll solution for employees who do not have direct deposit to a bank account.

"For Wal-Mart, it's yet another opportunity to deliver a creative and needed financial service for our customers," said Wal-Mart's director of financial services, Scott Sandlin.

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