Do you shop at Walmart often? Then the Walmart MoneyCard is an excellent option for you to consider. This card is issued by Green Dot Bank and even offers cash-back rewards and online services you can use free of charge. Feel free to keep reading to learn more about this great card.
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Perks of the Walmart MoneyCard
Normally, this card is great for people who tend to shop at Walmart quite often. Also, if you want to have free bill pay and money transfers between friends and family, this card offers those features. Another great reason to own this card is if you had a hard time managing your bank account before. This card is a great way to practice good spending habits and get you back on track. Some other perks are:
- No more than $75 in cash-back rewards every year.
- Withdraw cash from more than 5,000 Walmart locations for free.
- Direct deposit of payroll or government benefits up to 2-4 days earlier than usual for free.
- Online bill pay free of charge.
Cons of the Walmart MoneyCard
There are some disadvantages to owning a Walmart Moneycard as well. Some of the downsides of this card are:
- Steep loads of $1,000 is needed to waive their monthly fees.
- A $2.50 fee for bank teller and ATM withdrawals and any third-party fees that are charged by those operators.
- $3 fee to reload cash at the Walmart checkout. Also known as the Walmart Rapid Reload. It will cost up to $4.95 to reload cash at retailers in the Green Dot reload network.
What is a Prepaid Debit Card?
A prepaid debit card is a type of card that will allow you to spend a specific amount of money that’s loaded into your card. In other words, it will not help you build credit at all and will work with retailers that accepts the payment network.
Additionally, it’s usually much safer to use a prepaid debit card so stay away from fraud attempts. Compared to a regular checking account, these cards don’t have the same features a normal debit card would.
Conclusion
Overall, if you find yourself shopping at Walmart quite often, this card is an amazing choice for you. It acts like a prepaid debit card and comes with many features to benefit from. However, keep in mind that the fees included with this card is something to think about as well. If you’re alright with paying the fees that come with it, then you should get this card.
