NerdWallet’s rating: 4.0 / 5.0
The Walmart MoneyCard prepaid debit card can be a good value for dedicated Walmart customers. The card, issued by Green Dot Bank, has cash-back rewards for Walmart purchases and free online services.
The bottom line
- Monthly fee of $5 is avoidable with $1,000 balance
- Online bill pay is free, but reloading cash will cost you
- Up to $75 in cash-back rewards a year
» Not what you were looking for? Browse NerdWallet’s best prepaid debit cards
General fees and features
4.0 / 5.0
The Walmart MoneyCard charges a monthly fee, though it’s avoidable. There is no fee to close the account.
Purchases and withdrawals
4.0 / 5.0
The Walmart MoneyCard doesn’t charge fees for making purchases, but it does for ATM transactions. You can withdraw money for free at Walmart and earn cash back at certain retailers.
3.0 / 5.0
You can reload money onto the card several ways for free, but there’s no way to avoid fees for depositing cash at Walmart stores or elsewhere.
4.5 / 5.0
The card offers a mix of bill payment and savings features.
» Looking for a savings option? Some of the best high-yield online savings accounts cost nothing to open
Good for Walmart stores, limited elsewhere
The Walmart MoneyCard, unsurprisingly, provides the most perks to people who manage money and shop online at Walmart. There are some free services, including online transfers, a savings feature and customer service support, in addition to annual cash-back rewards.
» Not what you were looking for? Here’s a list of the best prepaid debit cards
Alternatives to prepaid debit cards
Other options, including mobile banks and various other prepaid debit cards, have lower or no monthly fees, wider ATM networks and more services. Here are a few alternatives:
Chime is a mobile bank that goes beyond the standard prepaid debit card offerings, including free access to 30,000 ATMs, getting your paycheck up to two days early, cash rewards and automatic savings. Plus, it’s all free: no monthly fees, overdraft fees, or foreign transaction fees — unless you deposit cash, in which case a third party may charge you.
True to its name, this mobile bank keeps it simple with its no-fee checking account. Depositing cash can be a hassle and might cost you, but you’ll be able to use 40,000 ATMs for other services at no cost. Simple also offers budgeting tools that can help you keep track of spending.
If you’re in need of a bank account but can’t qualify because of a flawed banking record, GoBank can be a good fit. Though there’s a $8.95 monthly fee, you can avoid it by having $500 or more in direct deposits a month. You can also get your paycheck up to two days earlier than you would at a regular bank.
» Want to explore other options? See a list of second-chance checking accounts
NerdWallet’s overall rating is a weighted average of these four categories: general fees and features (40%), purchases and withdrawals (35%), reloads (15%) and other services (10%). Factors we consider, depending on the category, include fees, ATM access, reload options, breadth of merchant acceptance, account features and limits, consumer-facing tech and customer service. Because prepaid debit cards help to manage money without using credit, any overdraft program gets penalized under the “purchases and withdrawals” category. Several Nerds contribute to prepaid debit card ratings to ensure consistency and accuracy.