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Walmart Card Review: All About the MoneyCard

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


Walmart Moneycard
Learn more
at Walmart
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 as well as free online and mobile features. But outside of Walmart stores, the card has more fees and service limits.

The bottom line

  • Reasonable monthly fee
  • Free services including money transfers and a savings feature, but there’s a fee for buying checks
  • Up to $75 in cash-back rewards a year

» MORE: Prepaid debit cards: What you should know

Our Ratings
General fees and features

Purchases and withdrawals

Reloads
Other services

Overall

Here are more details about the Walmart MoneyCard’s fees and services.

General fees and features

3.5 / 5.0

The Walmart MoneyCard charges a monthly fee, but it’s on the cheaper side. If you stop using your card, you still have to 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 / 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 customer service desks as well as get cash back with purchases you make at certain retailers. 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 over 4,500 Walmart locations
  • Ability to receive cash back from card at retail store checkout (when available)
  • Cash-back rewards of up to $75 a year: 3% cash back at Walmart.com, 2% at Murphy USA and Walmart fuel stations, 1% at Walmart 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 get cashed out only after 12 consecutive months

Reloads

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. For depositing a payroll or government check in a Walmart store, you pay a fee for cashing the check but nothing 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)
  • $3 fee to reload cash at Walmart checkout, known as Walmart Repaid Reload
  • Up to $4.95 to reload cash at retailers in the Green Dot reload network
  • Costs 95 cents to deposit a check using the mobile app

Other services

4.5 / 5.0

The card offers a mix of bill payment and savings features, so you can effectively use it 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
  • A fee of 70 cents for a money order, which is cheaper than at banks
  • People can move money into a free savings feature called the MoneyCard Vault, which offers cash prizes to promote savings
  • Free 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
  • A fee of 50 cents for ATM balance inquiries, plus any ATM operator fee

Good for Walmart stores, limited elsewhere

The Walmart MoneyCard, unsurprisingly, provides the most perks to people who manage money and shop online, especially at Walmart. 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 Walmart. 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 June 7, 2017.


Ratings methodology

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.

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