Walmart MoneyCard prepaid debit card review

Who is the Walmart MoneyCard best for?

The Walmart MoneyCard prepaid card is best for Walmart regulars seeking cashback rewards on purchases they already planned to make.

However, keep in mind that you can only earn up to $75 in cash back per year, and your earned rewards are only deposited into your account once every 12 months. Most reward cards distribute your cashback rewards within 30 to 90 days after earning, making this time frame a major downside. Also, the best cashback rate of 3% is only for Walmart.com purchases, so you’ll get the most bang for your buck if you shop online.

What we like about the Walmart MoneyCard

As you probably know, Walmart is not a bank. The Walmart MoneyCards are issued by Green Dot Bank, Member FDIC. Because Walmart’s bank partner is FDIC-insured, the Walmart MoneyCards are protected by up to $250,000 in FDIC insurance.

The MoneyCard has a $5.94 monthly fee, but you can waive it with monthly direct deposits of at least $500. Speaking of direct deposit, the MoneyCard offers early direct deposit, potentially allowing you to receive paychecks or government benefits up to two days early.

Cashback rewards at Walmart

The main perk of the MoneyCard is the cashback rewards earned exclusively for Walmart purchases. The MoneyCard cashback categories are:

• 1% for in-store purchases
• 1% for grocery delivery and pickup orders
• 2% at Walmart fuel stations
• 3% for purchases at Walmart.com

Cashback rewards are capped at $75 per year. You’d have to spend about $2,500 at the 3% rate to meet the earning cap.

To be eligible, you must keep your account in good standing and activate the cashback program. You receive the rewards once per year at the end of the “rewards” year. Walmart defines the rewards year as: “[12] monthly periods in which you have paid your monthly fee or had it waived.”

High-yield savings

The MoneyCard offers up to 2% APY on your savings balance, with a maximum average daily balance of $1,000. To earn interest, your account must be in good standing and maintain a positive balance.

However, interest is paid annually on each enrollment anniversary and is calculated based on the average daily balance of the previous 365 days. This payment structure is unusual, as most savings accounts pay interest earnings daily or monthly.

Add family members

The Walmart MoneyCard offers a feature called Family Accounts. Within the Walmart app, you can create accounts for up to four additional family members aged 13 or older. Each member can get their own personalized card, and family accounts don’t cost extra, either.

However, direct deposits to a family account do not count toward your direct deposit requirements for waiving the monthly fee.

Where it falls short

It’s important to remember that the Walmart MoneyCard is a prepaid card, not a debit card that you’d get with a traditional checking account. Just like other prepaid cards, it has a myriad of fees to be aware of.

Lots of fees to watch out for

You can get the card at Walmart stores, costing a one-time $1 card purchase fee.

The MoneyCard must be reloaded since it isn’t linked to a deposit account. Walmart accepts cash, direct deposits and check deposits. Reloading the card at Walmart registers costs $3, and other merchants charge up to $5.94 for cash deposits.

Cashing a check doesn’t charge your MoneyCard, but Walmart Fee Plan states, “Walmart check cashing fees will apply,” which starts at $4 for checks up to $1,000.

Additionally, there are ATM fees that Walmart will not reimburse. You’ll pay $2.50 to withdraw cash at an ATM and $0.50 for a balance inquiry — in addition to any fees the ATM operator charges.

Overdraft fees (but protection is an option)

The MoneyCard charges $15 if you overdraft by more than $10. However, the card offers overdraft protection of up to $200.

The overdraft protection helps cover purchases that exceed your balance. To qualify, you must set up direct deposit and opt in to the program, and Walmart will cover overdrafts up to $200. After it covers the overdraft, you have 24 hours to rectify the negative balance to avoid a fee.

Walmart MoneyCard’s fees and access

Compare the Walmart MoneyCard to top prepaid cards

Narrow down top prepaid cards by monthly fees, features and ATM withdrawal fees. For a better comparison, tick the Compare box on multiple cards to see the benefits side by side.

1 - 3 of 3

Name	Product USFSA-PPC	Fee	ATM withdrawal	Features
Wisely by ADP		$0 per month	$0	Up to 2 days early direct deposit Cash back rewards No minimum balance fee or spending fees Automatic transfer to savings envelope	Go to siteMore Info Compare	loading Fetching your data...
PayPal Prepaid Mastercard®		$4.95 per month	$2.50	Faster access to deposits PayPal Prepaid mobile app Open a savings account PayPal Payback Rewards	Go to siteMore Info Compare	loading Fetching your data...
Netspend® Visa® Prepaid Card		$9.95 per month (or $5 with a $500+ direct deposit, or $0 with pay-as-you-go)	$2	Get paid faster Easy loading Control your finances Card customizations Mobile app Savings account	Go to siteMore Info Compare	loading Fetching your data...

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Customer reviews and ratings

Overall, customer reviews around the MoneyCard and the bank that issues it aren’t great.
Walmart holds the highest rating of A+ with the Better Business Bureau (BBB) despite receiving over 13,000 complaints against it in the last few years. Since Walmart is one of the largest retailers in the world and not a financial institution, most reviews and complaints are not related to the MoneyCard. For a better understanding of account handling, we looked at Green Dot, its partner bank.

Green Dot holds the lowest rating of F with the BBB, thanks to multiple BBB alerts against the bank and a pattern of complaints. Numerous customers report locked accounts and the inability to access their funds for extended periods. They also report receiving little to no support from Green Dot, including being hung up on and rude representatives. Green Dot has not responded to the BBB about this ongoing pattern of complaints.

Moving on to more specific chatter about the MoneyCard, most threads on Reddit involve users asking for assistance to resolve locked accounts. Some Redditors report having the card for years without issues, while others advise users to contact Green Dot directly instead of Walmart for a quicker resolution — but based on Green Dot’s BBB profile, that may not be the best course to take.

Walmart says to contact the customer support line at 877-937-4098 for help with the Walmart MoneyCard.

Frequently asked questions

How much is a MoneyCard at Walmart?

It costs $1 to purchase the prepaid MoneyCard at Walmart stores. There is also a $5.94 monthly fee, which you can waive by meeting direct deposit requirements.

How do I withdraw money from the Walmart MoneyCard?

You have multiple options for withdrawing cash: Walmart MoneyCenters, registers, customer service desks, ATMs or Green Dot bank tellers. There is no fee to withdraw cash at Walmart stores. You can withdraw up to $500 per day via ATM or up to $400 through a bank teller.