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Walmart Card Review: All About the MoneyCard

Banking, Banking Basics, Prepaid Debit Cards
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Walmart MoneyCard Prepaid Debit Card
NerdWallet’s rating: 4.0 / 5.0

4.0 stars out of 5

Walmart Moneycard
Learn more
at Walmart
The Walmart MoneyCard prepaid debit card can be a good value for dedicated Wal-Mart customers. The card, issued by Green Dot Bank, has cash-back rewards for Wal-Mart purchases as well as free online and mobile features. But outside of Wal-Mart stores, the card has more fees and service limits.

Walmart Prepaid:  The bottom line

  • Reasonable monthly fee.
  • Free services including money transfers, check writing and savings feature, though there’s a fee for buying checks.
  • Up to $75 in cash-back rewards a year.
  • No free ways to reload cash or checks.

» MORE: Prepaid debit cards: What you should know

Our Ratings
General fees3.5 stars out of 5
Purchases and withdrawals4.5 stars out of 5
Reloads3.0 stars out of 5
Other services4.5 stars out of 5
Overall4.0 stars out of 5

Read on for more details about the Walmart MoneyCard’s fees and services.

General fees

3.5 stars out of 5
3.5 / 5.0

The Walmart Money Card charges a monthly fee, but it’s on the cheaper side. If you stop using your card, however, you’ll pay up to two extra monthly fees. There is no fee to close the account.

ProsCons
  • $5 monthly fee that can be waived.
  • No purchase fee when you order the card online, but $1 fee in stores.
  • No fee to close the account.
  • A steep load of $1,000 is required to waive the monthly fee.
  • If you stop using your card, you'll still get charged the monthly fee for up to two months.

Purchases and withdrawals

4.5 stars out of 5
4.5 / 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 Wal-Mart customer service desks as well as get cash back with purchases you make at any retailers, when available. The card can be issued as a MasterCard or Visa, so it’ll work with merchants that accept whichever payment network your card is in.

ProsCons
  • No fee for PIN-based or signature-based purchases.
  • Free cash withdrawals at the customer service areas in over 5,000 Wal-Mart stores.
  • Ability to receive cash back from card at retail store checkout (when available).
  • Cash-back rewards up to $75 a year: 3% cash back at Walmart.com, 2% at Murphy USA and Wal-Mart fuel stations, 1% at Wal-Mart stores.
  • $2.50 fee for bank teller and ATM withdrawals, plus any third-party fee charged by a bank or ATM operator.
  • Cash-back rewards only get cashed out after 12 consecutive months.

Reloads

3.0 stars out of 5
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 or checks at Wal-Mart or elsewhere. For depositing a payroll or government check in a Wal-Mart store, you pay a fee for cashing the check but not a fee to load that money onto the card.

ProsCons
  • Free direct deposit of payroll or government benefits.
  • Free online bank transfers to the card (but your bank may charge a fee).
  • Cashing a check costs $3 at Wal-Mart for checks up to $1,000 ($6 for checks over that).
  • $3 fee to reload cash at Wal-Mart checkout, known as Walmart Repaid Reload.
  • Up to $4.95 to reload cash at retailers in the Green Dot reload network, such as 7-Eleven, Walgreens and CVS Pharmacy stores.
  • Costs 95 cents to deposit a check using the mobile app.

Other services

4.5 stars out of 5
4.5 / 5.0

The card offers a mix of bill payment and savings features, so you can effectively use this card as a checking account substitute in those respects — or even just a money management tool.

ProsCons
  • Free online bill pay and free money transfers between friends and family.
  • 70 cent fee for a money order, which is cheaper than at banks.
  • Free savings feature called a "vault," which sets aside money from spending and offers cash prizes to promote savings.
  • Free 24/7 customer service line.
  • Second card available for $3 (but no monthly fee).
  • Pack of 12 checks costs $5.95, which breaks down to 50 cents per check.
  • 50 cent fee for ATM balance inquiries, plus any ATM operator fee.

Good for Wal-Mart stores, limited elsewhere

The Walmart MoneyCard, unsurprisingly, provides the most perks to people who manage money and shop online, especially at Wal-Mart. There are some free services, including online transfers, a savings feature and customer service support, in addition to annual cash-back rewards.

Walmart Moneycard
Learn more
at Walmart
But this card is not the cheapest prepaid debit card for many services, especially for people who don’t shop primarily at Wal-Mart. There are cards with lower or no monthly fees that have free ATM networks and free mobile check deposits, so shop around to compare costs and services across cards.

Spencer Tierney is a staff writer at NerdWallet, a personal finance website. Email: spencer@nerdwallet.com. Twitter: @SpencerNerd.

Updated Nov. 8, 2016.


Ratings methodology

NerdWallet’s overall rating is a weighted average of each category: general account fees, transactions and funds access, reloads and other services. Factors we consider, depending on the category, include fees, ATM access, reload options, breadth of merchant acceptance, account features and limits, user-facing tech and customer service. Several Nerds contribute to prepaid debit card ratings to ensure consistency and accuracy.

What the ratings mean:
5 stars out of 5 — Among the very best
4.5 stars out of 5 — Very good; only minor caveats for most customers
4 stars out of 5 — Good; issues that might make a difference to some customers
3.5 stars out of 5 — Fair; make sure strengths and weaknesses are a good match for you
3 stars out of 5 — Poor; proceed with great caution
2.5 stars out of 5 (or below) — Best to avoid