Walmart MoneyCard Review Advertiser disclosure You're our first priority. Each day. We believe that everyone should be able to make sound financial decisions with confidence. Although our site does not include every company or financial product that is available in the marketplace however, we're confident that the advice we provide as well as the advice we provide and the tools we develop are objective, independent, straightforward -- and completely free. So how do we make money? Our partners compensate us. This could influence the types of products we write about (and where those products appear on our site) However, it does not affect our advice or suggestions that are based on thousands of hours of study. Our partners do not be paid to ensure positive review of their services or products. . Walmart MoneyCard Review by Spencer Tierney Senior Writer | Certificates of deposit, ethical banking, banking deposit accounts Spencer Tierney is a consumer writer for banking at NerdWallet. He has covered personal finances since 2013, with particular attention paid to certificates of deposit as well as other topics related to banking. His work has been featured in The Washington Post, USA Today, The Associated Press and the Los Angeles Times, among others. He is located in Berkeley, California. February 17, 2021 Edited By Alice Holbrook Assigning Editor | Banking, homebuying, and savings 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 writer as well as working on the copy desk. The work she has written for her was featured in USA Today, MarketWatch, Newsweek and The Washington Post. Email:
. Many or all of the products featured here are from our partners, who pay us. This influences which products we write about and the location and manner in which the product appears on the page. But, it doesn't influence our opinions. Our views are our own. Here is 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 debit card that you can use prepaid is a great value for dedicated Walmart customers. The card, which is offered by Green Dot Bank, has cash-back rewards for Walmart purchases as well as no-cost online assistance. Best for: Frequent Walmart customers. People who would like to receive free bill payments and transfers between family and friends. Anyone who has had difficulty managing their bank accounts previously. People who can load $1,000 or more each month to avoid the higher-than-average monthly fee. Check out more options: Take a look at our list of Walmart MoneyCard Benefits: Up to $75 in cash-back rewards per calendar year. 3% on Walmart.com as well as 2% from Walmart gas stations and 1% in Walmart stores. Cash withdrawals are free at more than five thousand Walmart locations. Free cash reloads at Walmart stores by using the MoneyCard app. Direct deposit of pay or government benefits, up to 4 or 2 days early. Pay your bills online for free. >> Looking to increase your credit instead? Learn more about Walmart MoneyCard cons: A steep load of $1000 is required to eliminate the monthly charge. $2.50 fee for ATM and bank teller withdrawals, in addition to any fee charged by a third party an ATM or bank operator. A fee of $3 is charged to reload cash at Walmart checkout, known by the name of Walmart Rapid Reload with a maximum of as high as $5.95 to reload cash at stores in the Green Dot reload network. Are you ready to start a traditional savings option instead? Learn more about prepaid debit cards What is a credit card that is prepaid? A prepaid debit card kind of credit card that lets you use the funds you deposit on the card. They don't assist in building credit. Similar to a debit card it can be used at any store that accepts its payment network, which includes Visa, Mastercard or American Express. It's safer and more convenient than cash. Most prepaid cards have a mobile app for depositing checks and transferring money. Learn more on our guide to prepaid debit cards. In contrast to checking accounts the prepaid debit cards might be unable to access certain services, such as free ATM or branch networks as well as checks, among other. If that doesn't work for you, check out our list of best checking accounts. Or, if you've struggled with banks previously trying second chance checking options. Prepaid debit card is different from. debit card. credit card Prepaid debit cards : Pay before you load funds onto the card via cash check, direct deposit or a bank account before paying for transactions. Debit cards -- pay right now: You use money directly from a checking account to pay for purchases or withdrawing cash from ATMs. Credit cards that pay later: You take money from a bank when you use your card. You repay the loan later. What is the procedure for FDIC insurance for prepay cards work? Prepaid debit cards almost always include FDIC Insurance, and it ensures that your money safe in the event that the issuer fails to pay its bills. Only financial institutions are eligible for FDIC insurance, which means a prepaid card is either operated by a bank, or a prepaid card company that partners with a bank to provide that insurance. You have to sign up your debit card in prepaid form with your name and any other details of identification in order to be eligible to receive FDIC insurance, as well as other security. Author bio Spencer Tierney is an expert on deposits and certificates at NerdWallet. Its work was highlighted on USA Today and the Los Angeles Times. On a similar note... Discover a better checking account View NerdWallet's top picks for the best checking accounts. Go deeper into Banking Get more smart money moves - straight to your inbox Sign up and we'll send you Nerdy articles on money-related topics that are important to you as well as other methods to help you make the most out of your money. Make all the right money moves

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