WAL-MART ADDING 500 NEW FINANCIAL CENTERS

Wal-Mart says it will add 500 more money centers to its stores after opening its 1,000th store on Tuesday.

Wal-Mart’s money centers allow for in-store check cashing, bill payments, and money transfers 7 days a week.

"Wal-Mart MoneyCenters are a cornerstone of our business and were specially created to give customers a welcoming environment where they can save when they cash checks, pay bills and transfer money," said Jane Thompson, president, Walmart Financial Services.

The money centers are the closest service to a bank that Wal-Mart has been able to provide in the U.S. without a bank charter. The retail giant was stymied by opposition from banks and other groups in its efforts a few years ago to expand into the banking business.