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So I happened to find out some information about Wal-Mart's money services. For those of you are have never used Wal-Mart's money services it's located at the customer service or at some stores it has its own location. Wal-Mart uses MoneyGram which is similar to Western Union and offers services such as bill payment, money orders, and international/domestic transfers of money. In the past these services must be paid with a cash or debit card only.

However I recently found out that YOU CAN USE A GIFT CARD AS A FORM OF PAYMENT FOR THEIR BILL PAYMENT SERVICE! It used to be cash or debit card only however gift cards are acceptable to use as well. I believe the current fee is $0.88 per bill for 3 day service (will need to doublecheck). However some stores may deny you using a gift card for a bill payment if they have problems with fraudulent gift cards (you know those customers who take items without paying then return it to the store w/o a receipt and receive a hefty gift card). Also the customer service rep may just be unaware of the policy and say you can only pay for bills with a debit card or cash so it's YMMV. However the new MXC (Money Express Centers I believe they are called) are like self-serve kiosks similar to ATMS where you should be able to do all this (not all stores have these yet) without some annoying CSR unaware of acceptable forms of payment.

The real interesting part comes in (for those who minds are already turning and thinking about how to exploit this) would be for those wanting to purchase Wal-Mart gift cards on a credit card or at a discount at eBay/craigslist. For those with a 1% reward card you could essentially for example purchase a $500 gift card ($5 in rewards) and use the card to pay for your bill payment back to your creditor less -$0.88 for a net of $4.12. Wal-Mart is considered a grocery/retail by many credit card companies so there many be additional 2%-5% for rewards if you purchase the gift card in store or earn even more CashBack by purchasing a gift card online on various CashBack websites. In addition you could simply buy discounted Wal-Mart gift cards on eBay or craigslist and have some simple arbitrage there as well.

ADDITIONAL INFORMATION Following the "Don't call rule" simply go to your local Wal-Mart customer service center/financial money center to make sure they take Wal-Mart gift card as a form of payment for their billpay service to avoid being stuck with Wal-Mart gift cards in case your payment with the gift card is denied by the CSR. Next just buy a $5 gift card at Wal-Mart and do a test run to see if the purchase is categorized as a retail purchase to possibly earn additional points by most credit card issuers. I used to work at Wal-Mart's customer service and I still receive some information about their services and thought this would be valuable to the fatwallet community. With that said I do not know exactly how their bill payment service works so here are some additional answers I am trying to get.

1. Since you can use a Wal-Mart gift card as a form of payment for bill payment I wonder if there is a possibility you can use a Wal-Mart gift card to pay for a money order. I believe money orders are $0.30-$0.40 and if so you may be able to take it straight to the bank for deposit! Heck you might even be able to pay your Wal-Mart credit card with a Wal-Mart gift card now that would be something!
2. My second question would be can you bill pay yourself or a checking account? Others may be able to answer this who have experience with Wal-Mart's bill pay system but that may also be an opportunity to use some interest free cash (for most credit card users) for about two months (purchase month+grace period).

If this all works out this may be better than the US Mint deal simply because you can receive the cash/payment quickly instead of waiting weeks for the Mint and the possibility of having the money stolen. Plus it appears a good way to rack up some serious points, rinse and repeat, especially on discounted gift cards from eBay or craigslist that would offer instant arbitrage. As always YMMV and have fun!

UPDATE 1: Haven't done it myself but read an internal Wal-Mart email stating this can be done. Going to try tomorrow and report back results. Also purchasing a gift card with a credit card at the store/or somewhere online should be considered as a purchase and not cash advance. Also Wal-Mart associates or Sam's Club workers for a limited time can do their billpayments for free (no $0.88 fees applied). The expiration ends sometime towards the end of June of this year. I will try to get more information on this as well.

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And if we want valuable WMT deals, we get worthless threads.

g10ny (Jun. 07, 2009 @ 7:39p) |

WM has the agliest CSRs in the town. That must be a secret to success.

ANightShopper (Jun. 07, 2009 @ 8:00p) |

I would love to see that internal Wal-Mart email, because I tried to use a gift card with Billpay yesterday and it would... (more)

DiscountSAE (Jul. 08, 2009 @ 12:48p) |

YOU CAN USE A GIFT CARD AS A FORM OF PAYMENT FOR THEIR BILL PAYMENT SERVICE
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Interesting idea, but that would require me to wait in line.

highmktgoods said: Interesting idea, but that would require me to wait in line.

And at Wal-Mart too...eww.

eBay + Live CashBack

I need to cash some GC which I bought during the eBay 35% days, but have not been inside one in 6 months now. If it works it would be great.

OP,

Have you done this already?

no penalty for buying gift cards with a credit card?
ie: it's not treated as a cash advance like lotto tickets?

If you wanted to extract cash from a Wal-Mart gift card, couldn't you do this:

  • Buy a MoneyGram for $0.88 and send it to your [trustworthy] buddy

  • Trusted buddy cashes and gives the money back


???

redpomidor said: If you wanted to extract cash from a Wal-Mart gift card, couldn't you do this:

  • Buy a MoneyGram for $0.88 and send it to your [trustworthy] buddy

  • Trusted buddy cashes and gives the money back


???


Only problem is that after a quick search on eBay, it appears the vast majority of buy it nows for WalMart gift cards are selling over face value. E.g., $500 gift card selling for $519. While after 8% CashBack it still works out to less than facevalue, paying $478 instead of $414 for a $500 gift card does cut the margins down quite a bit.

I imagine once this procedure gets verified to work, it'll drive the price of WalMart giftcards even higher .

dchen2 said: redpomidor said: If you wanted to extract cash from a Wal-Mart gift card, couldn't you do this:

  • Buy a MoneyGram for $0.88 and send it to your [trustworthy] buddy

  • Trusted buddy cashes and gives the money back


???


Only problem is that after a quick search on eBay, it appears the vast majority of buy it nows for WalMart gift cards are selling over face value. E.g., $500 gift card selling for $519. While after 8% CashBack it still works out to less than facevalue, paying $478 instead of $414 for a $500 gift card does cut the margins down quite a bit.

I imagine once this procedure gets verified to work, it'll drive the price of WalMart giftcards even higher .


But you can buy the giftcard on eBay using your credit card also... THat is another 1% at least!

I live pretty far from WalMart, but drive by it every once in a while, will give it a try.

.

I called my local WalMart to ask them about this. I got transferred to a lot of CSRs and they finally said that they do not accept GCs for bill payment.

be mindful of the risks associated with such activity...I'm going to likely give this a test run...

Recent Citi example

woodsley said: I called my local WalMart to ask them about this. I got transferred to a lot of CSRs and they finally said that they do not accept GCs for bill payment.

Ugh, I know it's Finance but it's like you've never stepped been in Hot Deals:

"Never call a store to see if a price is correct, if a deal will work, or if a rebate will go through. Thousands of phone calls will throw up red flags at the retailer and kill the deal. Post your question on Fatwallet and let an experienced member answer. There is risk involved in many deals."

yurgreat said: no penalty for buying gift cards with a credit card?
ie: it's not treated as a cash advance like lotto tickets?
I've bought 20-25K of assorted gift cards over the past year using several different CCS. All treated as purchases.

I am surprised no one has actually tried it.

I did, and the scheme did not work, at least for me. As OP said, it is YMMV.

At three different WalMart physical stores, I tried to buy money orders with WalMart gift cards, no dice. I tried to pay bills with WalMart gift cards, no dice.

This sounds sweet. Can we pay mortgages bill?

pyro123 said: This sounds sweet. Can we pay mortgages bill?Payees are limited to those in their system; on their register they pull up the payee by phone number.

But CSR said they are able to try adding new payees upon request for the time being, since the program is new. But no guarantee that the new payee will be accepted. So if your mortgage servicer is not on the list of available payees, you can give them your payment coupon anyways and see if they can add it.

(and the register itself flat out rejects gift cards as a payment method for money orders/moneygrams; so its not a matter of convincing a CSR to allow it....)

I wanted to find out about the money order “route” mentioned above, not the bill pay route. I called a friend of mine who for some reason usually carries around an assortment of giftcards with her, and drives by a WalMart on the way to the gym. (By way, a money order would have cost $0.46 for any denomination). She tried to buy a money order first with a WalMart giftcard, then when turned down with a credit card, then when turned down with a debit card but using the signature route - still turned down. They told her the only possibilities were a debit card USING A PIN, or cash (actually I think a paper check might also have been a possibility but she wasn't sure about that as I didn't really emphasize that as something I needed to know about).

Problem is, I don't know of many debit card rewards programs that are worth taking the time for except the ones for Rewards Checking, and I've got that covered in other ways.

went to local WalMart with the kiosk. gift card is not an option. you can use a WalMart money card, but the only way to get a WalMart money card is to pay cash or use a debit card with pin. went to the desk and rep said the same. picked up the brochure and it lists WalMart money card debit card pin, or cash only

nativeamericansaver said: However I recently found out that YOU CAN USE A GIFT CARD AS A FORM OF PAYMENT FOR THEIR BILL PAYMENT SERVICE!

Why dont you verify and try it first before getting everyone psyched up? ADMIT IT, it doesnt work

I know. I just wasted several minutes of my life reading this post that I'll never get back. I realize you put YMMV, but if it doesn't work for anyone it is not YMMV. It's YSOL.

fw9999 said: Problem is, I don't know of many debit card rewards programs that are worth taking the time for except the ones for Rewards Checking, and I've got that covered in other ways.Rewards checking obviously has no incentives for larger purchases, but there are a few debit cards that offer rewards. I've listed a few I'm aware of here The best is Citi, which pays 1/3 TYP per $ on PIN-based debit transactions. With SLR rebate (1 TYP = $1), you can make a profit on any money order over $139.39, or $269.70 if you need to mail it (given a fixed $0.46 fee for the money order). Granted, it's not going to be a significant sum of money, but it's definitely an option for anyone that doesn't take credit cards (which tend to be for higher-value transactions anyways).

edit: here's a debit card that pays 1/2 pt per $ even for PIN transactions (also potentially an additional 1% with Regular Personal Checking account - the site does not specify signature transactions but I have not verified it works with PIN-transactions). With 1/2 pt per $, that brings your breakeven point down to $90 or $178 if you mail it. IF it's 1.5%, then it's $30.67 and $59.33

Why not try it before you start a thread and act all excited.

I went to WalMart this morning try to buy money order with my gift card, it was turn down, she print out a piece of paper said only cash or debit card are accepted for money order purchase. then I tried to purchase a prepaid VISA at WalMart with $3 fee, but also turn down because only cash or debit card are accepted to purchase the prepaid visa. So it is unsuccessful for me.

rusmilinyet said: WTF? Why not try it before you start a thread and act all excited. I agree with "solobear," I just wasted a couple minutes reading this and now I wasted a couple minutes posting a message.off topic... (1) swearing isn't necessary (2) if it takes you a few minutes to draft 35 words + an explitive then you might consider a computer science/keyboarding course at the local community college.

mttatkns said: fw9999 said: Problem is, I don't know of many debit card rewards programs that are worth taking the time for except the ones for Rewards Checking, and I've got that covered in other ways.Rewards checking obviously has no incentives for larger purchases, but there are a few debit cards that offer rewards. I've listed a few I'm aware of here The best is Citi, which pays 1/3 TYP per $ on PIN-based debit transactions. With SLR rebate (1 TYP = $1), you can make a profit on any money order over $139.39, or $269.70 if you need to mail it (given a fixed $0.46 fee for the money order). Granted, it's not going to be a significant sum of money, but it's definitely an option for anyone that doesn't take credit cards (which tend to be for higher-value transactions anyways).

edit: here's a debit card that pays 1/2 pt per $ even for PIN transactions (also potentially an additional 1% with Regular Personal Checking account - the site does not specify signature transactions but I have not verified it works with PIN-transactions). With 1/2 pt per $, that brings your breakeven point down to $90 or $178 if you mail it. IF it's 1.5%, then it's $30.67 and $59.33
Thanks for the debit card info., mttatkns. I may look into this even though it's fairly low-return because my logistics for this scenario are pretty simple - there's a WalMart with money orders on my way home from work, and 1 of my banks is 1 mile further on my way home from work, and I have a savings account at that bank that still pays a "reasonable" (for these days) interest rate AND would start paying interest that day if before 4 PM (I get home early) AND since it's a money order, would (I believe) make it available immediately. This avoids any mailing. I'll have to make these money orders pretty large to get a reasonable bang for the buck, but that's OK.

However, since WalMart requires a PIN-based transaction to buy a money order, OP's post also gave me the idea to explore whether non-WalMart money orders (e.g. at banks) can be bought with credit cards. I'll check Monday - I'll probably find that they don't allow it.

raringvt said: highmktgoods said: Interesting idea, but that would require me to wait in line.

And at Wal-Mart too...eww.

I'd rather spend a night in San Quentin wearing one of Liberace's outfits.

jackcrawfish said: rusmilinyet said: WTF? Why not try it before you start a thread and act all excited. I agree with "solobear," I just wasted a couple minutes reading this and now I wasted a couple minutes posting a message.off topic... (1) swearing isn't necessary (2) if it takes you a few minutes to draft 35 words + an explitive then you might consider a computer science/keyboarding course at the local community college.

Agree & I edited my post. I try to stay off the computer when I'm crabby.

nativeamericansaver said: However some stores may deny you using a gift card for a bill payment if they have problems with fraudulent gift cards (you know those customers who take items without paying then return it to the store w/o a receipt and receive a hefty gift card). Also the customer service rep may just be unaware of the policy and say you can only pay for bills with a debit card or cash so it's YMMV. However the new MXC (Money Express Centers I believe they are called) are like self-serve kiosks similar to ATMS where you should be able to do all this (not all stores have these yet) without some annoying CSR unaware of acceptable forms of payment.
This is where you lose your credibility - the WalMart register either accepts or declines the payment method, not the CSR (and it is WalMart's policy, not store-by-store).

Welcome to the age of computers, which has removed individual discretion when enforcing such policies.

mttatkns said: fw9999 said: Problem is, I don't know of many debit card rewards programs that are worth taking the time for except the ones for Rewards Checking, and I've got that covered in other ways.Rewards checking obviously has no incentives for larger purchases, but there are a few debit cards that offer rewards. I've listed a few I'm aware of here The best is Citi, which pays 1/3 TYP per $ on PIN-based debit transactions. With SLR rebate (1 TYP = $1), you can make a profit on any money order over $139.39, or $269.70 if you need to mail it (given a fixed $0.46 fee for the money order). Granted, it's not going to be a significant sum of money, but it's definitely an option for anyone that doesn't take credit cards (which tend to be for higher-value transactions anyways).

edit: here's a debit card that pays 1/2 pt per $ even for PIN transactions (also potentially an additional 1% with Regular Personal Checking account - the site does not specify signature transactions but I have not verified it works with PIN-transactions). With 1/2 pt per $, that brings your breakeven point down to $90 or $178 if you mail it. IF it's 1.5%, then it's $30.67 and $59.33


you mean 1K TYP = $1 SLR

Good to know about the information.

seems like too much work

Did you mean a WalMart "Gift Card" or "MoneyCard"?

<--------
It's easy to pay your bills where you shop, here's how:
Just visit any WalMart MoneyCenter or customer service desk. Be sure to bring the following:
  • Cash, your WalMart MoneyCard, or a PIN-based debit card
  • Your billing statements with account numbers
  • For Express Bill Payments you'll need the receive code for each bill. (If you don't know your receive codes, call MoneyGram at 1-800-926-9400)


--------->

source

Walmart MoneyCard

$3 issuance fee
$3 reload with cash at WalMart register (free reload w/ WalMart check cashing or direct deposit)
$3 monthly service fee

sushiosushi said: Walmart MoneyCard

$3 issuance fee
$3 reload with cash at WalMart register (free reload w/ WalMart check cashing or direct deposit)
$3 monthly service fee
And why would anyone want one of those?!?

jackcrawfish said: be mindful of the risks associated with such activity...I'm going to likely give this a test run...

Recent Citi example


Uh, no. That idiot decided to PayPal himself money. No wonder Citi closed his accounts.

That is COMPLETELY different from what is being suggested in this thread.

The less time I am at WalMart the more of my life I can appreaciate. Once I was in the dump and was with my usual $300 load of stuff and the checker asked me why did I have so much, I gladly replied becase I will not have to come back here as often. They were a little taken back but I am happy to triple up on all I need there to avoid it like the plague. They always look at me like I am rich when I swipe the $500 GC that I bout with CC rewards and MSFT CashBack - I just chuckle as it's nothing specail but at WalMart you would think I own oil filelds in Texas.

all168 said: I went to WalMart this morning try to buy money order with my gift card, it was turn down, she print out a piece of paper said only cash or debit card are accepted for money order purchase. then I tried to purchase a prepaid VISA at WalMart with $3 fee, but also turn down because only cash or debit card are accepted to purchase the prepaid visa. So it is unsuccessful for me.Meh, I'm still going to see if they will take rolls of coins fresh from the Mint.

Skipping 14 Messages...
I would love to see that internal Wal-Mart email, because I tried to use a gift card with Billpay yesterday and it would not work. Also Money Orders are not available with gift card as a payment (even at the WalMart Money Services Kiosk (ATM)). If you have this internal email please PM me a copy of it or upload it. Fortunately I only purchased a $100 gift card and not a $2500 card as planned for these purposes.

If anyone has had success using a giftcard with the WalMart Billpay feature please post your experiences, and techniques.


nativeamericansaver said: So I happened to find out some information about Wal-Mart's money services. For those of you are have never used Wal-Mart's money services it's located at the customer service or at some stores it has its own location. Wal-Mart uses MoneyGram which is similar to Western Union and offers services such as bill payment, money orders, and international/domestic transfers of money. In the past these services must be paid with a cash or debit card only.

However I recently found out that YOU CAN USE A GIFT CARD AS A FORM OF PAYMENT FOR THEIR BILL PAYMENT SERVICE! It used to be cash or debit card only however gift cards are acceptable to use as well. I believe the current fee is $0.88 per bill for 3 day service (will need to doublecheck). However some stores may deny you using a gift card for a bill payment if they have problems with fraudulent gift cards (you know those customers who take items without paying then return it to the store w/o a receipt and receive a hefty gift card). Also the customer service rep may just be unaware of the policy and say you can only pay for bills with a debit card or cash so it's YMMV. However the new MXC (Money Express Centers I believe they are called) are like self-serve kiosks similar to ATMS where you should be able to do all this (not all stores have these yet) without some annoying CSR unaware of acceptable forms of payment.

The real interesting part comes in (for those who minds are already turning and thinking about how to exploit this) would be for those wanting to purchase Wal-Mart gift cards on a credit card or at a discount at eBay/craigslist. For those with a 1% reward card you could essentially for example purchase a $500 gift card ($5 in rewards) and use the card to pay for your bill payment back to your creditor less -$0.88 for a net of $4.12. Wal-Mart is considered a grocery/retail by many credit card companies so there many be additional 2%-5% for rewards if you purchase the gift card in store or earn even more CashBack by purchasing a gift card online on various CashBack websites. In addition you could simply buy discounted Wal-Mart gift cards on eBay or craigslist and have some simple arbitrage there as well.

ADDITIONAL INFORMATION Following the "Don't call rule" simply go to your local Wal-Mart customer service center/financial money center to make sure they take Wal-Mart gift card as a form of payment for their billpay service to avoid being stuck with Wal-Mart gift cards in case your payment with the gift card is denied by the CSR. Next just buy a $5 gift card at Wal-Mart and do a test run to see if the purchase is categorized as a retail purchase to possibly earn additional points by most credit card issuers. I used to work at Wal-Mart's customer service and I still receive some information about their services and thought this would be valuable to the fatwallet community. With that said I do not know exactly how their bill payment service works so here are some additional answers I am trying to get.

1. Since you can use a Wal-Mart gift card as a form of payment for bill payment I wonder if there is a possibility you can use a Wal-Mart gift card to pay for a money order. I believe money orders are $0.30-$0.40 and if so you may be able to take it straight to the bank for deposit! Heck you might even be able to pay your Wal-Mart credit card with a Wal-Mart gift card now that would be something!
2. My second question would be can you bill pay yourself or a checking account? Others may be able to answer this who have experience with Wal-Mart's bill pay system but that may also be an opportunity to use some interest free cash (for most credit card users) for about two months (purchase month+grace period).

If this all works out this may be better than the US Mint deal simply because you can receive the cash/payment quickly instead of waiting weeks for the Mint and the possibility of having the money stolen. Plus it appears a good way to rack up some serious points, rinse and repeat, especially on discounted gift cards from eBay or craigslist that would offer instant arbitrage. As always YMMV and have fun!

UPDATE 1: Haven't done it myself but read an internal Wal-Mart email stating this can be done. Going to try tomorrow and report back results. Also purchasing a gift card with a credit card at the store/or somewhere online should be considered as a purchase and not cash advance. Also Wal-Mart associates or Sam's Club workers for a limited time can do their billpayments for free (no $0.88 fees applied). The expiration ends sometime towards the end of June of this year. I will try to get more information on this as well.



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