Walmart MoneyCard Review
The Walmart MoneyCard is a prepaid debit card with low costs ideal for those who shop at Walmart. For Walmart customers, it’s among the best prepaid card offerings. In our Walmart MoneyCard review, we cover the cards features, fees, and card limits.
Walmart MoneyCard Overview
The Walmart MoneyCard is available for either the Visa or Mastercard networks, so it is widely accepted and can be used for purchases anywhere Visa and Mastercard debit cards are accepted. You can use the Walmart MoneyCard to pay bills for free with the MoneyCard’s bill pay feature.
The Walmart MoneyCard offers several methods to load money on the card, four of which are free. You can add money without charge through direct deposit, check deposit through the Walmart MoneyCard mobile app, and transfer from a bank account. And starting in 2019, Walmart MoneyCard users can deposit cash to the card at Walmart stores for free. For a fee, you can load cash to the Walmart MoneyCard using Walmart Rapid Reload ($3.00) or the Green Dot MoneyPak (up to $4.95).
The mobile app offers card users with anytime access to check the card balance, see recent transactions, and locate Walmart stores or ATMs.
You can get cash from your Walmart MoneyCard at the register or the customer service desk at Walmart locations without charge. You can also get cash from the Walmart MoneyCard at any ATM, but ATM withdrawals come with a fee of $2.50.
The Walmart MoneyCard includes the core features that most prepaid cards offer, such as direct deposit, but it also provides some additional unique features to the Walmart MoneyCard, such as cash back rewards.
Cash Back: By using the Walmart MoneyCard, you earn 3% cash-back at Walmart.com, 2% cash back at Murphy USA and Walmart Fuel Stations, and 1% cash-back at Walmart stores, up to $75 in cash-back rewards per year. Cash back rewards can be redeemed online or through the mobile app.
Savings Vault: The Walmart MoneyCard also includes a “vault” feature to plan for a spending goal or an emergency fund. The feature allows you to transfer money from the card to your vault. The balance in your vault can’t be spent unless you move it back to the Card balance.
Free Cash Reloads at Walmart: In 2019, Walmart launched a new money-saving feature–free cash reloads at Walmart stores. You can use the app to make a deposit which will provide a bar code that is scanned at the register to complete the deposit with no fees.
Mobile App: The MoneyCard has a free mobile app for iPhone or Android devices. You can use the app to check balances, view transaction history, or transfer money to your savings vault. You can also use it to deposit checks.
Prizes: As a bonus, Walmart MoneyCard users have a chance to win cash prizes awarded monthly (up to a $1,000 grand prize) for every dollar saved to their savings vault each month.
Family Accounts for Teens: Walmart recently added free family accounts, allowing families to obtain additional cards for their teenagers. There is no cost for the additional cards and the primary account-holder controls transfers to the family accounts and can view all transactions on the cards.
Text Alerts: With text alerts, you can get information about the card’s balance and individual transactions, among other things. Here’s a list of the text alerts currently offered:
|If you want to||Text this command to 96411 (or WM411)|
|Get your available balance||“BAL XXXX” (XXXX is the last 4 digits of your card number)|
|See your transaction history for the last 30 days||“HIST XXXX” (XXXX is the last 4 digits of your card number)|
|Find a reload location||“LOC ZZZZZ” (ZZZZZ is the zip code or city, state)|
|Find nearby ATMs|
Refer to the Fee Plan for applicable ATM fees
|“ATM ZZZZZ” (ZZZZZ is the zip code or city, state)|
|Find a nearby Walmart gas station||“WMGAS ZZZZZ” (ZZZZZ is the zip code or city, state)|
|Show the text commands above||HELP|
|Stop receiving all text alerts||STOP|
Walmart MoneyCard Limits
You can have up to a $10,000 card balance on the Walmart MoneyCard–higher than most prepaid cards. The maximum daily spending limit for the card is $3,000, about average among prepaid cards. The ATM daily limit is $400, again about average for prepaid cards.
Walmart charges $1.00 to purchase the MoneyCard. The MoneyCard charges no monthly fee if you load $1,000 or more on the card during the prior month. Otherwise, it costs a reasonable $5.00 monthly fee.
The Walmart MoneyCard charges no transaction or purchase fees.
ATM withdrawals cost $2.50 in addition to any fees charged by the ATM owner. But you can avoid ATM fees by getting cash back when you make a debit purchase with the card at most retailers (including Walmart).
How the Walmart MoneyCard Works
There are several ways to load the Walmart MoneyCard.
Direct Deposit: You can load paychecks and government benefits checks on the card via direct deposit. Direct deposit is free.
Cash Loading at Walmart Stores: You can deposit cash to the card for free when you use the Walmart MoneyCard app at Walmart stores.
Walmart Check Cashing: Walmart offers check cashing services for a fee of $3 ($6 for checks over $1,000 up to $5,000). When using the check cashing service, Walmart waives the fee to load the money to your Walmart MoneyCard. Walmart will cash the following checks:
- Payroll checks
- Government checks
- Tax checks
- Cashier’s Checks
- Insurance settlement checks
- 401(k), retirement distribution checks
- MoneyGram money orders that were purchased at Walmart
Online Bank Transfer: If you have a bank account, you can transfer funds to the Walmart MoneyCard online for free.
Walmart Rapid Reload: Finally, you can load your MoneyCard using Walmart’s Rapid Reload service. To load the MoneyCard, Walmart charges a discounted fee of $3 at any Walmart Money Center. For all other prepaid cards, Rapid Reload costs $3.74. Alternatively, you can use Green Dot Reload @ the Register or MoneyPak. The MoneyCard doesn’t charge a fee to use those, but the service agent will charge $4.95 – $5.95.
Using the Walmart MoneyCard
The Walmart MoneyCard works like a credit card or debit card. It can be used anywhere debit Visa or Mastercard is accepted. This includes grocery stores, gas stations, shopping, and other retailers. You can also use the card online with Amazon, eBay, other online retailers, and for just about any bill that takes credit cards online. And of course, it can be used at Walmart.
There are several ways to get cash from the Walmart MoneyCard.
ATMs: You can use the card like a bank debit card to withdraw money from an ATM. The MoneyCard’s fee is $2.50 per transaction, plus any fee charged by the ATM owner.
Cash Back at Retailers: Many retailers allow you to get cash back when making purchases using a PIN. That’s free.
Walmart: You can get cash from your card at Walmart Money Centers and Walmart Customer Service Desks. Also free.
How to Get the Walmart MoneyCard
Getting a Walmart MoneyCard is easy. There is no credit check, no Chexsystems inquiry, or income requirements. As with all prepaid debit cards, you do need a valid social security number.
You can get the card by completing a short form you’ll find here.
The Walmart MoneyCard has most core features that users would look for in a prepaid card, and it can be an inexpensive card for users using direct deposit or loading the card with enough to qualify to waive the monthly fee. However, many of the benefits and convenience features are applicable mostly to Walmart customers, such as the cash back features or the ability to withdraw cash at Walmart to avoid ATM fees.
Best For: Walmart shoppers, prepaid card users looking for a prepaid card with no monthly fee who will load more than $1,000 per month, and those frequently making cash loads to their card.
Not So Good For: Prepaid card users that can’t qualify to waive the fee, those not regularly shopping at Walmart stores