The Walmart MoneyCard is a reloadable prepaid debit card. It offers some unique features, such as cash back rewards. These benefits, however, apply only on Walmart purchases. We’ll explore whether the Walmart MoneyCard deserves a place in your wallet in this detailed review.
Snapshot
- Earn up to 3% cash back at Walmart
- Earn 2% APY on savings
- Free accounts for up to 4 family members
- $5.94 monthly fee waived with deposit of $1,000 or more
- Free cash reloads
- Live chat with customer care
Rating
Walmart MoneyCard Rating
Summary
The Walmart MoneyCard is the prepaid card for those who frequently shop at Walmart. From cash back on Walmart purchases to a high-yield savings account, its mix of features and fees is competitive.
Pros & Cons
What we like
- Low fees if you add $1,000 or more a month
- Cash back on Walmart purchases
- Free cash reloads at Walmart
- High-yield savings account
What could be better
- Best features limited to Walmart purchases
- Mobile app is not highly rated
- Cash back capped at $75 a year
Features
| Direct Deposit | Yes |
| Bill Pay | Yes |
| Free ATMs | No |
| Savings Account | Yes |
| Cash Back Rewards | Yes |
| Mobile App | Yes |
| Text Alerts | No |
| Mobile Check Deposit | No |
| Purchase Cushion | No |
| Virtual Card Numbers | No |
Fees & Limits
| Fee | Monthly fee |
|---|---|
| Monthly Fee | $5.94* |
| PIN Transactions | $0 |
| Signature Transactions | $0 |
| ATM Withdrawal Fee | $2.50 |
| Cash Reload Fee | $3.00 |
| Direct Deposit Fee | $0 |
| Purchase Fee | $1.00 |
*The monthly fee is waived when $1,000 or more is added to the card the previous month.
| Card Limit | $10,000 |
| Transaction Limit | $3,000 |
| Daily ATM Limit | $500 |
| Daily Cash Load Limit | $500 |
Rewards
The offers cash back rewards when you shop at Walmart. Here are the details:
- 3% cash back at Walmart.com and in the Walmart app
- 2% cash back at Walmart fuel stations
- 1% cash back at Walmart stores.
That’s the good news. The not so good news is that cash back is capped at $75 a year.
Benefits
The card offers a number of benefits:
- Get paid early with direct deposit
- Savings account paying 2% APY on up to $1,000 in savings
- Order up to 4 free accounts for family members ages 13 or older
- Transfer money from a bank account
- Live chat with customer care
Loading Funds
You have to load funds to the card before you can make purchases with the card. You can reload the card as often as you want. There are several ways to load funds:
- Load Cash: Load cash at a WalMart store for a $3 charge.
- Direct Deposit: You can have your pay check or government check automatically deposited to your card. This service is free.
- Online Bank Transfer: You can transfer funds from your bank account, credit union, or other financial institution for free.
- Green Dot® MoneyPak®: You can use a Green Dot® MoneyPak® to reload your card. You can pick up one at thousands of locations across the country and the charge varies.
Comparison
Who the card is best for
Without question, the is ideal for those who frequently shop at Walmart. The card’s key benefits, including cash back and low fee cash reloads, apply only at Walmart.
Who might do better with a different card
Those who don’t shop at Walmart several times a month will miss out on the card’s key features. If you don’t live at Walmart, there are better prepaid debit cards. As one example, the Netspend Prepaid Visa offers more benefits than the Walmart MoneyCard with reasonably low fees.
FAQs
No. The Walmart MoneyCard is a prepaid debit card. No credit is required, and using the card will not improve your credit score.
Yes, particularly if you regularly shop at Walmart. It charges reasonable fees and offers a number of generous benefits, including cash back.
In theory, you can receive your paycheck up to 2 days early with direct deposit on just about any prepaid debit card. There is, however, no guarantee that you will have access to your paycheck before payday.
Check out are complete list of the best prepaid debit cards.
