Do you want to get more out of your Walmart shopping spree or want to open a demand deposit account without opening a bank account?
Both problems have a simple solution: the Walmart MoneyCard.
If you’ve never heard of this profitable debit option from Walmart, this article will tell you everything you need to know.
Let’s jump right in!
Walmart MoneyCard is a demand deposit account that is a convenient way for customers to get a debit card when traditional banks may deny them the service. It works very similarly to a regular debit or credit card account, but there is no need to apply for a bank account or worry about overdraft fees.
Here are a few of the things you can do with your Walmart MoneyCard:
- Pay your bills on schedule
- Shop at any stores where the Visa Debit and Debit Mastercard are accepted
- Receive pay up to 2 days earlier
- Send and receive money to or from other MoneyCard holders or other Green Dot Bank-issued cards nationwide
- Earn 2% annual interest on savings
- And much more.
Customers also get cashback rewards when they shop using the Walmart app, website, or Walmart retail stores and fuel stations.
One thing the card does not do is give users a line of credit. In that sense, it is similar to a debit card.
If you think a Walmart MoneyCard is right for you, you must determine if you can qualify for one.
Here are the requirements you must fulfill:
- Must be above 18 years of age
- Must have a valid SSN
- You must also make an initial deposit to your account
You will also need online access and identity verification (including SSN) to open an account. Additionally, mobile or email verification along with the mobile app is also required to access all features of the Walmart MoneyCard.
Getting approved for a MoneyCard does not require a credit check, and thus, it will not register on your credit report.
Ordering a Walmart MoneyCard is simple. All you need to do is open an account online or pick up a starter card at any Walmart store.
Are you wondering how does Walmart MoneyCard work? It is incredibly simple.
After receiving your card, the next step is to register it. To do this, you need to provide a few details and verify your identity. Once verified, you can load your card with money and start shopping.
This can be done in four easy ways:
- By using the Walmart MoneyCard app
- By using cash and load checks at Walmart
- By using MoneyPak
- By using Walmart Rapid Reload at any Walmart register
That’s it! Once you load money on your card, you can shop to your heart’s content.
Yes, your Walmart MoneyCard is ready for use immediately after successful activation.
You can manage your Walmart MoneyCard account via the mobile app or online. You can set up deposit checks, pay bills, and open free accounts for your children as well.
If you need to check your card balance or review previous transactions, it can be easily done by logging into your account online or through the mobile app.
An alternate method of checking your card balance and transactions is by using your SMS service. All you must do to receive updates is text the following messages to 43411 using your registered phone number:
- Text ‘BAL Last4’ (for card balance)
- Text ‘HIST Last4’ (for transaction history)
For any other issues related to inconsistent transaction history and account trouble, you can also contact Walmart’s customer support team.
The maximum balance for Walmart MoneyCard is up to $7,500. The maximum one-time deposit limit is $3,000.
Walmart allows users to withdraw up to $500 from their MoneyCard via ATM in a single day. The withdrawal limit for every teller transaction is $400.
Take note that Walmart may also block ATM withdrawals in certain areas due to fraud or security concerns. Before withdrawing from your card, check out the terms and conditions in the paperwork that came with your card. You should be aware of certain limits and fees incurred for each transaction.
Walmart MoneyCard does come with a monthly fee, but it can be waived for accounts with qualifying deposits. To qualify for a fee waiver, the account should have deposits of at least $500 in the previous month. Accounts that do not fulfill this requirement must pay a monthly fee of $5.94.
The monthly fee is charged upon first use, on the day after card activation, or 90 days after card purchase, whichever occurs earlier.
You can also expect to be charged fees for the following:
- 12-packs of checks
- Foreign transactions
- ATM balance inquiry
- Card replacement
If you’re looking for a convenient way to shop at Walmart and earn cashback rewards whenever you purchase, then Walmart MoneyCard is for you. It is incredibly easy to get a card, load it up, and use it.
Now that you know how a Walmart MoneyCard works, what are you planning to splurge on this summer? Tell us all about it!