The Walmart MoneyCard is a versatile prepaid debit card offering a wide range of features designed to help you manage your finances effortlessly. Whether you’re looking for a convenient way to earn cash back on everyday purchases, access early direct deposits, or avoid carrying cash, the MoneyCard delivers valuable benefits.

One of the standout features of this card is its generous rewards program, which allows you to earn up to 3% cash back on Walmart purchases. Plus, with the added perks of overdraft protection and savings interest, the Walmart MoneyCard is an all-in-one solution for those looking to make the most of their money.

Main features of the Walmart MoneyCard

The Walmart MoneyCard is a prepaid debit card that doesn’t require a credit check, making it accessible to a broad range of customers. Unlike traditional credit cards, which might charge interest or late fees, the MoneyCard operates as a pay-as-you-go card. You simply load funds onto the card, and then use it for purchases.

This card can be used anywhere Visa Debit and Mastercard Debit are accepted, so it’s not restricted to Walmart. In addition, it provides features that are ideal for budgeting, family account management, and savings, making it much more than a basic prepaid card.

How does the annual fee work?

One of the great things about the Walmart MoneyCard is that it offers flexibility when it comes to fees. If you deposit $500 or more each month, the card’s monthly fee is completely waived. This means you can use the card without worrying about additional charges.

However, if you don’t meet the monthly deposit requirement, there is a nominal fee of $5.94. Even with this fee, the Walmart MoneyCard remains an affordable choice compared to other prepaid cards that often charge higher fees without the option of fee waivers.

How is the spending limit determined?

Because the Walmart MoneyCard is a prepaid debit card, your spending limit is based on how much money you load onto the card. This is a great feature for anyone who wants to keep control over their spending without the risk of overdrawing the account or facing surprise fees.

With traditional credit cards, your spending limit is typically determined by your credit score and income. However, with the MoneyCard, you set your own limit by depositing funds into your account. This makes it a particularly attractive option for budgeting, as it prevents overspending.

Benefits of the Walmart MoneyCard

The Walmart MoneyCard comes with a range of perks that make it stand out from other prepaid debit cards. Below are some of the top benefits, explained in more detail:

• Cash back rewards: Earn up to 3% cash back on purchases made at Walmart.com, 2% at Walmart fuel stations, and 1% on purchases made in Walmart stores. You can earn up to $75 annually in cash back rewards.
• Overdraft protection: For eligible users, the card offers overdraft protection of up to $200, which helps cover purchase transactions in case your balance goes negative.
• Early direct deposit: You can get your paycheck up to two days earlier than usual or receive benefits up to four days early, thanks to Early Direct Deposit™.
• No monthly fee with direct deposit: If you direct deposit $500 or more in the previous month, you’ll automatically waive the monthly fee.

Highlight: cash back rewards

One of the Walmart MoneyCard’s most attractive features is its cash back program. You can earn up to 3% cash back on Walmart.com purchases, 2% at Walmart fuel stations, and 1% at Walmart stores. Over the course of a year, you can earn up to $75 in rewards just by shopping where you already do.

This cash back is credited to your card at the end of the reward year, and can be redeemed through the website or the app. It’s an easy way to get a little extra back from your regular purchases, particularly if you’re a frequent Walmart shopper.

Disadvantages

While the Walmart MoneyCard offers many great features, there are some downsides to consider. Here are a few of the potential disadvantages:

• Monthly fee without qualifying deposits: A $5.94 monthly fee applies if you don’t meet the $500 direct deposit requirement.
• Limited cash back rewards outside of Walmart: The cash back program is most beneficial for those who frequently shop at Walmart.
• Overdraft fees: Overdraft protection is helpful, but if your balance remains negative for over 24 hours, a $15 fee may apply.
• Maximum cash back limit: While $75 a year is a good reward, other cards offer higher annual cash back limits.

Highlight: monthly fee

One of the key disadvantages of the Walmart MoneyCard is the potential monthly fee if you don’t meet the $500 direct deposit threshold. For those who don’t receive regular direct deposits or who don’t frequently use the card for larger purchases, this fee can add up over time. However, for those who meet the deposit requirements, the fee can be easily waived.

Who can apply for the Walmart MoneyCard?

The Walmart MoneyCard is a versatile option that’s accessible to many people. Here are the basic requirements for applying:

• Age: Applicants must be 18 years or older.
• Social Security Number (SSN): To activate the card and open an account, you’ll need to provide your SSN for identity verification.
• US residents: The Walmart MoneyCard is available to residents of the United States only.
• No credit check: Since this is a prepaid card, no credit check is required, making it accessible to those with a low or limited credit score.
• Easy approval: The application process is straightforward, with no income requirements or credit checks.

How to apply for the Walmart MoneyCard

Applying for the Walmart MoneyCard is simple and can be done online, through the mobile app, or in person at a Walmart store.

Apply online

To apply online, visit the Walmart MoneyCard website. Click on the “Open an account” button, and you’ll be guided through the application process. You’ll need to provide some personal details, including your Social Security Number for identity verification. After you’re approved, your card will be mailed to you, and you can activate it online.

Apply through the app

You can also apply for the card through the Walmart MoneyCard mobile app, available on both iOS and Android. The app allows you to manage your account, track your spending, and redeem rewards. To apply, download the app and follow the instructions for setting up a new account.

Apply in-store

If you prefer, you can pick up a Walmart MoneyCard starter kit at any Walmart location. After purchasing the starter card, you’ll need to activate it online by visiting the Walmart MoneyCard website and providing your personal information.