Introduction

The Walmart MoneyCard app, powered by Green Dot Bank, offers a convenient and effective way to manage your finances. Designed with the customer in mind, the app allows users to easily manage, monitor, and access their money anytime, anywhere. New Walmart MoneyCard accounts can access a range of benefits including cash back on various purchases, early access to pay, potential overdraft protection, and the potential to earn interest on savings.

Feature

Get your pay up to 2 days early with direct deposit, adding speed and convenience to your financial transactions.

Receive cash back from your purchases, earning up to 3% on Walmart.com, 2% at Walmart fuel stations, & 1% at Walmart stores.

Order an account for up to 4 additional approved family members, enabling easier money management within the family.

Potential overdraft protection up to $200, adding another safety net against emergency expenses.

Earn 2% of interest on savings, providing an added incentive to save.

Options to lock your card directly within the app if lost or stolen, helping you protect your funds.

Cons

A monthly fee of $5.94 is charged if the qualifying direct deposit is less than $500 which may not be suitable for individuals with lower monthly incomes.

Overdraft protection requires account to be in good standing and comes with certain fees if the balance is not restored within 24 hours.

The interest is paid annually and based on the average daily balance of the prior 365 days, hence if your account has irregular withdrawals, your annual interest may be compromised.

Usage Tips

The Walmart MoneyCard app's user-friendly interface makes it easy to handle your finances. You can deposit your pay or government benefits, add money from your existing bank account, reload cash at Walmart stores nationwide, or deposit checks using your smartphone. With no minimum balance or credit checks needed to get a card, the app is a great tool for everyday banking. Remember to keep track of your direct deposits to avoid monthly fees, and to maintain a positive balance to make the most of the overdraft protection and to earn annual interest.