Walmart MoneyCard Full review

Keep reading and learn more about the Walmart MoneyCard

Overdraft costs are avoided by using the Walmart MoneyCard, a debit card that doesn’t require a bank account or a credit check.

For those who are unable or unable to open regular bank accounts, a variety of prepaid debit card options, including the MoneyCard, have become available recently.

The card, which is offered in variants for both Visa and MasterCard, can be used not only at Walmart but also anywhere else that takes Visa or MasterCard.

So, keep on reading and have a full picture of how this card works, in order to decide if it fits you or not!

How does the Walmart MoneyCard work?

You can use the Walmart MoneyCard, a reloadable prepaid debit card, everywhere MasterCard or Visa debit cards are accepted, to make electronic transactions.

With a prepaid debit card, you can only spend the funds you have loaded onto the card. They don’t aid in credit-building. Prepaid cards function similarly to debit cards at any retailer that recognizes their payment network, such as Visa, Mastercard, or American Express.

Compared to using cash, it is more convenient and safe. The prepaid card typically comes with a mobile app for money transfers and check deposits.

Your savings are safeguarded if the issuer of your prepaid debit card goes out of business thanks to FDIC insurance, which is almost usually included.

The Walmart MoneyCard is made for those who have bad credit and need a debit card that doesn’t require a credit check, for those who want a cheaper alternative to a secured credit card, and for those who just want to avoid checking account fees.
The MoneyCard can be used anywhere Visa or Mastercard is accepted and does not require a credit check to qualify. It can also be used to pay bills in person at any Walmart location or online for a fee.

Prepaid cards are either maintained by a bank or by a prepaid card company that collaborates with a bank to supply that protection since only financial organizations are eligible for FDIC coverage. To be eligible for FDIC insurance and other safeguards, you must register your prepaid debit card with your name and other forms of identification.

Walmart MoneyCard benefits

The Walmart MoneyCard Cashback system

The Walmart MoneyCard offers cash-back benefits based on the transactions you make with your card, unlike the majority of prepaid cards, which impose fees.

Earn 3% at Walmart.com, 2% at Walmart and Murphy USA gas stations, and 1% at Walmart retail locations. Your account will be awarded a maximum amount of $75 in cash back at the conclusion of the reward year.

You must have paid your monthly charge within a 12-month period or received a waiver of it to be eligible for incentives.

Debit card accounts for your family

With your activated, personalized card, you can get an account on the app for up to 4 additional approved family members ages 13 and older.

Ideal for helping teenagers or other family members manage their finances. They can use the app to add money to their account at any time and monitor their spending. Family accounts are free of additional monthly fees.

Other benefits

• With early direct deposit, you can receive your salary up to two days before payday and your benefits up to four days before benefits day.
• Cash can be stored in the app’s savings account for safekeeping, unexpected expenses, or future purchases. Earn 2% APY on your savings account up to $1,000 in addition!
• You can stop waiting for Friday and start being paid on Wednesday with free early direct deposit.
• With the MoneyCard app, you can manage your finances without having to go to the bank.
• No monthly fee if you made a direct deposit of $500 or more during the previous month. Alternatively, $5.94 per month.

How to apply and get a Walmart MoneyCard?

If you are the kind of person that always buys in Walmart and wants to have a lot of benefits for doing so, the Walmart MoneyCard is the ideal card for you.

Check out our article on how to apply for this card right here!

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