Are you someone that shops at Walmart frequently? If you are, it might be a good idea to consider getting a Walmart MoneyCard offered by GreenDot. The card offers cash back rewards when you make purchases at Walmart.
If a Walmart MoneyCard is something you would be interested in, be sure to read tis review to learn more about a MoneyCard.
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A prepaid debit card is a type of card that allows you to only spend money that you load onto the card. It is similar to a checking account without having to have an actua account . It is a safer alternative to cash and is very convenient. Typically the prepaid card has a mobile app to deposit checks and transfer money.
The main difference between prepaid debit cards and checking accounts are that prepaid debit cards may not have some services such as free ATM or branch networks, and checks.
Who Should Get A Walmart MoneyCard?
When you shop at Walmart with your MoneyCard, you will have access to many features including earning cash back every time you shop at Walmart. Walmart MoneyCards also allow for you to get your direct deposit earlier. People that should consider getting a Walmart MoneyCard include the following:
- Customers who frequently shop at Walmart
- If you are someone who has trouble managing checking accounts
- People who want free bill pay and money transfers between friends and family.
Pros:
- You can earn up to $75 in cash back rewards
- Withdraw cash from 5,000 locations
- Free direct deposit of payroll or government benefits, up to 2 or 4 days early.
- Online and Mobile Bill Pay
Cons:
- Must have $1,000 balance to avoid fee
- $2.50 fee for bank teller and ATM withdrawals
- $3 fee to reload cash at Walmart checkout, known as Walmart Rapid Reload
- $4.95 fee to reload cash at retailers in the Green Dot reload network.
Is Your MoneyCard FDIC Insured?
You can bank safely with prepaid debit cards as they are mostly all the time FDIC Insured. Because prepaid cards are managed by banks or financial institutions, they will have FDIC Insurance and protection on your funds.
Your card will be eligible for FDIC Insurance once you register it and deposit it with cash.
Conclusion
A Walmart MoneyCard is a great thing to consider if you are someone that shops at Walmart frequently. Opening an account online is easy and managing the card will be simple. Just load a card with money and you will be on your way towards earning cash back every time you shop at Walmart.
Let us know in the comment section below if it did! If you don’t have a savings account, see our best savings account section. Looking to add a little extra income each year? If so, see our list of the best bank deals!
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