Walmart MoneyCard Review Advertiser disclosure You’re our first priority. Each time. We believe everyone should be able to make sound financial decisions without hesitation. While our website does not include every company or financial product that is available on the market however, we’re confident that the advice we provide and the information we offer and the tools we develop are impartial, independent easy to use and free. So how do we earn money? Our partners compensate us. This can influence the products we review and write about (and the way they appear on the site) however it doesn’t affect our suggestions or recommendations which are based on thousands of hours of study. Our partners cannot pay us to guarantee favorable reviews of their products or services. . 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 been covering personal financial matters since 2013, with a an emphasis on certificates of deposit and other banking-related topics. The work he has written for him was highlighted on The Washington Post, USA Today, The Associated Press and the Los Angeles Times, among other publications. He is based in Berkeley, California. February 17, 2021 Edited by Alice Holbrook Assigning Editor | Homebuying, savings and banking services Alice Holbrook joined NerdWallet in 2013 and is an editor on the team for home/mortgages. Prior to that, she was an editor on the team for banking that covered banking and insurance as a journalist and also worked at the copy desk. Her work has been highlighted by USA Today, MarketWatch, Newsweek and The Washington Post. Email:

. A majority or all of the products featured here are from our partners, who pay us. This affects the products we review as well as the place and way the product is featured on a page. But, it doesn’t affect our assessments. Our opinions are our own. Here’s a list and . Editor’s note, July 12, 2021: Walmart MoneyCard, issued by Green Dot Bank, has changed to a demand-deposit account. The Walmart MoneyCard debit card that is prepaid could be a value for Walmart customers. The card, issued by Green Dot Bank, has cash-back reward points for Walmart purchases and no-cost online assistance. Best for: Frequent Walmart customers. Customers who are looking for free bill pay and money transfers between friends and family. Anyone who has had difficulty managing their bank accounts previously. Anyone who is able to load $1,000 or more each month, to avoid the high monthly fees. >> See more options: Check out our selection of Walmart MoneyCard Benefits offering up to $75 in cash-back reward rewards per each year. This includes 3% on Walmart.com, 2% from Walmart gas stations, and 1 percent in Walmart stores. Free cash withdrawals at over five thousand Walmart locations. Free cash reloads at Walmart stores using the MoneyCard app. Free direct deposit of payroll or government benefits, up to two or four days in advance. Pay your bills online for free. Are you looking to increase your credit instead? Learn more about Walmart MoneyCard cons: A steep load of $1000 is required to pay off the monthly fee. $2.50 fee for bank teller and ATM withdrawals, plus any third-party fees charged by a bank or ATM operator. $3 fee to reload cash at Walmart checkout, known as Walmart Rapid Reload and up to $5.95 in order to reload cash at retail stores that are part of the Green Dot reload network. Are you ready to open an ordinary savings account instead? Check out the overview of Prepaid debit cards What exactly is a prepaid debit card? A pre-paid debit card can be described as a type of credit card that allows you to spend the funds you deposit on the card. They aren’t able to help you build credit. Like a debit card, the prepaid card 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. Usually the prepaid card has an app that allows you for depositing checks and transferring money. Find out more about our guide for the prepaid debit card. As opposed to checking accounts, prepaid debit cards may be unable to access certain services, such as free ATM or branch networks and checks, to name a few. If this doesn’t suit you, check out our top list of checking accounts. If you’ve had trouble with banks previously trying second chance checking options. Prepaid debit card compares. debit cards vs. 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. Credit cards — make payments today: You use cash directly from a checking account when making purchases or withdrawing money at an ATM. Credit cards that pay later: You borrow cash from a bank each time you use the card and pay it back later. What is the procedure for FDIC insurance for prepay cards work? Prepaid debit cards almost always come with FDIC insurance, which keeps your funds protected in case the issuer goes bankrupt. Only financial institutions are eligible for FDIC insurance, so the prepaid card is operated by a bank, or a prepaid card company that partners with a bank to provide this 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 as well as other protections. About the author: Spencer Tierney is an expert on certificates of deposit at NerdWallet. The work of Spencer Tierney has been featured on USA Today and the Los Angeles Times. On a similar note… Discover the best checking account NerdWallet’s top picks for the best checking accounts. Explore even more deeply in Banking Get more smart money moves delivered directly to your inbox. Sign up and we’ll send you Nerdy articles about the money topics that matter most to you and other strategies to help you make the most out of your money. Take all the appropriate money moves

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