Walmart MoneyCard Review Advertiser disclosure You’re our first priority. Every time. We believe that everyone should be able make financial decisions with confidence. While our website does not include every company or financial product available on the market We’re pleased that the guidance we offer and the information we offer and the tools we create are impartial, independent easy to use and free. So how do we make money? Our partners pay us. This could influence the types of products we write about (and the places they are featured on our site), but it in no way affects our advice or suggestions which are based on thousands of hours of research. Our partners do not promise us favorable review of their services or products. . Walmart MoneyCard Review By Spencer Tierney Senior Writer | Certificates of deposit ethics, ethical banking, bank deposit accounts Spencer Tierney is a consumer writer for banking at NerdWallet. He has covered personal finances since 2013, with a focus on deposits and certificates as well as other banking-related subjects. His work has been featured by The Washington Post, USA Today, The Associated Press and the Los Angeles Times, among others. The location of his office is Berkeley, California. Feb 17th, 2021 Edited by Alice Holbrook Assigning Editor | Homebuying, savings and banking products Alice Holbrook joined NerdWallet in 2013 as an editor on the team for home/mortgages. Previously, she was an editor on the banking team as well as covered banking and insurance as a writer as well as working as a copy desk assistant. Her work has been featured by USA Today, MarketWatch, Newsweek and The Washington Post. Email:

. The majority of products featured here are from our partners who compensate us. This affects the products we write about as well as the place and way the product appears on a page. However, this does not influence our evaluations. Our views are our own. Here’s a list of and . Editor’s note, 12 July, 2021 Walmart MoneyCard, issued by Green Dot Bank, has converted to a demand deposit account. The Walmart MoneyCard debit card that you can use prepaid is a great value for dedicated Walmart customers. The card, which is issued by Green Dot Bank, has cash-back rewards for Walmart purchases as well as no-cost online assistance. Best for: Frequent Walmart customers. Customers who are looking for free bill payments and transfers between friends and family. Those who have had trouble managing their bank accounts before. Individuals who are able to pay $1,000 or more each month, to avoid the high monthly fees. Find more options: Take a look at out our selection of Walmart MoneyCard Benefits offering up to $75 in cash-back reward rewards per year: 3% on Walmart.com and 2% at Walmart gas stations, and 1% at Walmart stores. Cash withdrawals are free at more than 55,000 Walmart locations. Free cash reloads at Walmart stores using the MoneyCard app. Direct deposit of your payroll or government benefits up to two or four days early. Free online bill pay. >> Looking for a way to build credit instead? Learn about Walmart MoneyCard cons A large amount of $1,000 is required in order to eliminate the monthly charge. $2.50 fee for ATM and bank teller withdrawals, in addition to any third-party fees charged by a bank or ATM operator. There is a $3 fee to reload cash at Walmart checkout, known in the industry as Walmart Rapid Reload with a maximum of Up to $5.95 to reload cash at retail stores that are part of the Green Dot reload network. >> Ready to open a traditional savings option instead? See the Overview of Prepaid debit cards What exactly is a pre-paid debit card? A Prepaid debit card type of payment card that only lets you spend the money that you put on the card. They don’t help you build credit. Like a debit card, it can be used at any merchant which accepts its payment network, like Visa, Mastercard or American Express. It’s more secure and convenient as opposed to cash. The prepaid cards usually have an app for mobile devices to deposit checks or transfer money. Learn more on our guide for the prepaid debit card. Unlike checking accounts they may not have certain services like free ATM or branch networks and checks, to name a few. If this doesn’t suit you, take a look at our list of best checking accounts. If you’ve had trouble with banks in the past trying second chance checking options. Prepaid debit card vs. debit card. credit card Prepaid debit cards : Pay before the card is loaded with money the card using cash, checks, direct deposit or an account with a bank before you pay for transactions. debit cards — use now: You use cash directly from a checking account when paying for purchases or withdrawing funds at an ATM. Credit cards — pay later: You can borrow cash from a bank each time you use the card and repay the loan at a later date. How does FDIC insurance on prepaid cards work? Prepaid debit cards typically include FDIC insurance, which keeps your funds safe in the event the issuer goes under. Only financial institutions can be covered by FDIC insurance, therefore the prepaid card must be controlled by a bank or by a prepaid card company that has a partnership with a bank to offer the insurance. You have to sign up your debit card prepaid with your name and other information about your identity to be eligible to receive FDIC insurance and other protections. About the author: Spencer Tierney is an expert in certificates of deposit at NerdWallet. His work has been featured in USA Today and the Los Angeles Times. On a similar note… Find the best checking account NerdWallet’s picks for the best checking accounts. Dive even deeper in Banking Get more smart money moves delivered straight to your inbox. Sign-up and we’ll send you Nerdy posts about the money topics that are important to you along with other ways to help you get more from your money. Make the right financial moves

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