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Walmart MoneyCard Review Advertiser disclosure You’re our first priority. Each time. We believe that everyone should be able make financial decisions without hesitation. And while our site doesn’t include every business or financial product that is available on the market, we’re proud that the guidance we offer as well as the advice we provide as well as the tools we design are objective, independent, straightforward — and cost-free. How do we earn money? Our partners pay us. This could influence the types of products we review and write about (and the places they are featured on our site) however it does not affect our advice or suggestions that are based on many hours of study. Our partners are not able to promise us favorable review of their services or products. . Walmart MoneyCard Review By Spencer Tierney Senior Writer | Certificates of deposit and ethical banking, as well as 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 subjects. His work has been highlighted by The Washington Post, USA Today, The Associated Press and the Los Angeles Times, among other publications. He is based in Berkeley, California. February 17th, 2021 Edited by Alice Holbrook Assigning Editor | Homebuying, savings and banking items Alice Holbrook joined NerdWallet in 2013 and is currently an editor on the home/mortgages team. Before that, she worked as an editor on the team for banking, covered insurance and banking as a journalist as well as working as a copy desk assistant. Her work has been featured on USA Today, MarketWatch, Newsweek and The Washington Post. Email:

. Many or all of the items featured here come from our partners, who pay us. This influences which products we feature and where and how the product is featured on the page. However, this does not influence our evaluations. 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 converted to a demand deposit account. The Walmart MoneyCard prepaid debit card can be a good value for dedicated Walmart customers. The card, which is issued from Green Dot Bank, has cash-back rewards on Walmart purchases as well as the card offers online service for free. Best for: Frequent Walmart customers. People who want no cost bill pay as well as money transfers between family and friends. People who have struggled managing a bank account before. People who can load at least $1,000 per month to avoid paying the more expensive monthly cost. Check out more options: Take a look at the list below of Walmart MoneyCard Pros: Up to $75 in cash-back rewards a each year. This includes 3% on Walmart.com and 2% at Walmart gas stations and% at Walmart stores. Free cash withdrawals at over 5,000 Walmart locations. Reloading cash for free at Walmart stores by using MoneyCard. MoneyCard app. Direct deposit of pay or government benefits, up to 4 or 2 days in advance. Pay your bills online for free. >> Looking for a way to build credit instead? Learn 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, in addition to any fee charged by a third party an ATM or bank operator. There is a $3 fee to reload cash at Walmart checkouts, also known in the industry as Walmart Rapid Reload with a maximum of up to $5.95 in order to reload cash at retailers in the Green Dot reload network. Are you ready to start savings with a traditional option? See the Overview of the prepaid debit cards. What is a prepaid debit card? A prepaid debit card can be described as a form of payment card that only lets you spend the money you deposit on the card. They do not aid in building credit. As with debit cards, a prepaid card works at any merchant that accepts their payment network, such as Visa, Mastercard or American Express. It’s more secure and convenient than using cash. Usually the prepaid card has an app that allows you to deposit checks or transfer money. Learn more on our guide for prepaid debit cards. In contrast to checking accounts the prepaid debit cards might not have certain services like free ATM branches, checks, among others. If this doesn’t suit you, check out our list of the top checking accounts. If you’ve been struggling with banks before trying second chance checking options. Prepaid debit card is different from. debit card vs. credit card prepaid debit cards — pay prior to you load funds onto the card via cash check or direct deposit into a bank account before paying for transactions. Credit cards — make payments today you use the money directly from a checking account when making purchases or withdrawing money from an ATM. Credit cards Pay later: You borrow money from a bank when you make use of the card. You repay the loan in the future. How does FDIC insurance for prepaid cards work? Prepaid debit cards almost always come with FDIC insurance. This helps keep your money safe in the event that the issuer goes under. Only financial institutions can have FDIC insurance, so a prepaid card is either operated by a bank, or by a prepaid card company that has a partnership with a bank to offer that insurance. You must register 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. The author’s bio: Spencer Tierney is an expert on deposits and certificates at NerdWallet. The work of Spencer Tierney has been featured on USA Today and the Los Angeles Times. On a similar note… Get an account that is more suitable for checking View NerdWallet’s recommendations for the top checking accounts. Dive even deeper in Banking . Receive more money-savvy moves delivered straight to your inbox Sign up and we’ll send you Nerdy articles on money-related topics that matter most to you along with other ways to get more out of your money. Make the right financial moves

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