Walmart MoneyCard Review Advertiser disclosure You’re our first priority. Every every time. We believe that everyone should be able make financial decisions without hesitation. While our website doesn’t feature every company or financial product in the marketplace We’re pleased that the advice we provide as well as the advice we provide and the tools we create are impartial, independent, straightforward — and free. So how do we earn money? Our partners pay us. This may influence which products we review and write about (and where those products appear on our site) however it in no way affects our suggestions or recommendations which are based on hundreds of hours of study. Our partners do not be paid to ensure positive ratings of their goods or services. . Walmart MoneyCard Review by Spencer Tierney Senior Writer | Certificates of Deposit, ethical banking, banking deposits Spencer Tierney is a consumer banker at NerdWallet. He has been covering personal finance since 2013, with a focus on certificates of deposit as well as other banking-related topics. The work he has written for him was covered on The Washington Post, USA Today, The Associated Press and the Los Angeles Times, among other publications. The location of his office is Berkeley, California. February 17, 2021 Edited By Alice Holbrook Assigning Editor | Savings, homebuying and banking items Alice Holbrook joined NerdWallet in 2013 and is an editor for the team that covers home and mortgages. Before that, she worked as an editor on the team for banking, covered insurance and banking as a writer, and did a stint on the copy desk. Her work has been featured on USA Today, MarketWatch, Newsweek and The Washington Post. Email:
. The majority of products we feature are made by our partners, who pay us. This impacts the types of products we write about and where and how the product is featured on a page. However, this does not influence our opinions. Our opinions are entirely our own. Here’s a list of and . Editor’s note, July 12 2021 Walmart MoneyCard, issued by Green Dot Bank, has changed to a demand-deposit account. The Walmart MoneyCard prepaid debit card can be a good value for Walmart customers. The card, which is offered through Green Dot Bank, has cash-back reward points for Walmart purchases and the card offers online service for free. Best for: Frequent Walmart customers. People who want free bill payments and transfers between friends and family. People who have struggled managing a bank account before. People who can load up to $1,000 each month to avoid paying the more expensive monthly fees. >> See additional options: See our list of Walmart MoneyCard Advantages offering up to $75 in cash-back rewards a each year. This includes 3% on Walmart.com as well as 2% from Walmart gas stations, and 1 percent at Walmart stores. Cash withdrawals are free at more than 5,000 Walmart locations. Reloading cash for free at Walmart stores by using the MoneyCard app. Direct deposit of your payroll or government benefits, up to two or four days early. Pay your bills online for free. >> Looking to increase your credit instead? Learn about Walmart MoneyCard cons A significant amount of $1000 is required to pay off the monthly fee. $2.50 fee for ATM and bank teller withdrawals, plus any fee charged by a third party an ATM or bank operator. There is a $3 fee to reload cash at Walmart checkout, known as Walmart Rapid Reload and Up to $5.95 in order to reload cash at stores in the Green Dot reload network. Are you ready to start savings with a traditional option? See the Overview of prepaid debit cards What is a prepaid debit card? A pre-paid debit card can be described as a kind of payment card that only lets you spend the money that you put on the card. They do not aid in building credit. Similar to a debit card a prepaid card works at any store which accepts its payment network, such as Visa, Mastercard or American Express. It’s safer and easier than using cash. Most prepaid cards have an app that allows you for depositing checks and transferring money. Find out more in our guide for prepaid debit cards. Unlike checking accounts the prepaid debit cards might be unable to access certain services, such as free ATM branches and checks, to name a few. If none of that appeals to you, check out our top list of checking accounts. Or, if you’ve struggled with banks in the past, check out second chance checking options. Prepaid debit card is different from. debit card vs. credit card Prepaid debit cards : Pay in advance you load funds onto the card using cash, checks, direct deposit or an account with a bank before you pay for transactions. debit cards — use right now you use the funds directly from your checking account when making purchases or withdrawing money at an ATM. Credit cards — pay later: You borrow money from a financial institution when you use your card. You pay it back at a later date. What exactly is FDIC insurance for credit cards that are prepaid? Prepaid debit cards typically come with FDIC insurance. This ensures that your funds safe in the event the issuer fails to pay its bills. Only financial institutions can be covered by FDIC insurance, so the prepaid card must be operated by a bank, or by a prepaid card provider that is partnered with a bank in order to provide that insurance. You must register your prepaid debit card with your name and other identification information to be eligible for FDIC insurance, as well as other security. Author bio Spencer Tierney is an expert in certificates of deposit at NerdWallet. Its work was highlighted in USA Today and the Los Angeles Times. Similar to… Get the best checking account NerdWallet’s recommendations for the top checking accounts. Explore even more deeply in Banking . Receive more money-savvy moves – straight to your inbox Sign up and we’ll send you Nerdy posts on money-related topics that matter most to you along with other ways to help you get more from your money. Make all the right money moves
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