Walmart MoneyCard Review: Is it Worth It?

Written by Jordan BlansitUpdated: 29th Sep 2021
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If you’re a Walmart shopper, chances are, you’ve seen the ads plastered all over the registers about the Walmart MoneyCard.

But if you’ve never signed up for one yourself, you probably don’t know what all the fuss is about.

That’s why we’re here to break it down for you. From up to $75 per year cashback to 2% APY in your savings account, here’s all the reasons Walmart shoppers love the Walmart MoneyCard (and a few reasons they don’t).

Walmart MoneyCard Pros and Cons

Walmart MoneyCard carries with it a few hefty benefits for Walmart shoppers – and a few negatives for those who sometimes look beyond the yellow spark logo to save money, live better.


  • Impressive cashback program – 3% from, 2% at Walmart gas stations, 1% in Walmart stores
  • Free cash withdrawals at over 5,000 Walmart locations
  • Free cash reloads at Walmart stores using the MoneyCard app
  • Receive direct deposit funds up to 2 days early and government benefits 4 days early
  • 2% APY on up to $1,000 in your savings account
  • Chance to win cash prizes monthly
  • Up to 4 subaccounts for family members age 13+


  • Best features are only available on Walmart purchases
  • $5.94 monthly maintenance fee unless you direct deposit $500 per month
  • Cashback capped at $75 per year
  • Cash reloads cost $3 for Walmart Rapid Reload, and up to $5.95 at other Green Dot reload network retailers
  • Bank teller and ATM withdrawals cost $2.50
  • 3% foreign transaction fee

What is the Walmart MoneyCard?

The Walmart MoneyCard is Walmart’s attempt to break into the prepaid debit card space. The card is issued through Green Dot Bank and is applicably FDIC insured against fraud and illicit activity.

Legalities aside, the Walmart MoneyCard also provides a way for frequent Walmart shoppers to enjoy perks for doing what they do every day: shop at Walmart.

With MoneyCard, you can enjoy cash back rewards on all Walmart purchases, take advantage of free online services, and automatically enter to win one of 1,000 cash reward prizes every month.

And the more you stash, the more entries you’ll earn!

How Does the Walmart MoneyCard Work?

To get your Walmart MoneyCard, you can apply online for free and wait up to two weeks for your card to arrive. If you need your card now, you can buy it in store for a small fee of $1.

Keep in mind that you’ll need a valid Social Security Number to open your card (though Walmart does not run a credit check on you).

Additionally, regardless of which method you use, you’ll need to download the Walmart MoneyCard app to get the most of your new prepaid debit card.

Once it arrives, you’ll need to deposit funds and activate your account before you can use it. You can deposit cash, link a bank account, or use mobile check deposit to upload funds to your card.

Walmart MoneyCard lets you carry a balance of up to $10,000, which is higher than most cards. Plus, your daily spending limit is capped at $3,000, while you can withdraw up to $400 per day from an ATM.

When your card is ready to go, you can shop anywhere that Visa® or Mastercard® is accepted in the United States.

>> More: How Do Prepaid Debit Cards Work?

Walmart MoneyCard Features and Benefits

The Walmart MoneyCard is designed to provide the best possible Walmart shopping experience.

While its best perks are limited to Walmart purchases only, you can use your card virtually anywhere online and in-store.

Walmart MoneyCard Cash Back Rewards

One of MoneyCard’s best perks is its tiered cashback program. You can earn up to $75 per year, with:

  • 3% cashback on all purchases
  • 2% cashback from Walmart gas station purchases
  • 1% cashback from shopping in Walmart stores

MoneyCard App Full Management

The Walmart MoneyCard app isn’t just a perk – it’s required to make full use of your account. From the app, you can:

  • View your transaction history
  • Activate overdraft protection
  • Transfer funds to your savings accounts
  • Deposit cash
  • Pay bills
  • Manage account settings

Manage Family Accounts

A primary account holder must be at least 18 to open a MoneyCard account. However, once this account is established, you can open up to four subaccounts for children ages 13+ directly from the app for no extra cost.

The primary account holder can also load individual cards, monitor all transactions, and limit individual spending.

ASAP Direct Deposit

ASAP Direct Deposit is one of the easiest ways to reload your MoneyCard prepaid debit card. In fact, a direct deposit of $500+ per month is required to bypass the $5.94 monthly fee.

With ASAP Direct Deposit, you can receive your payroll checks up to two days earlier than a traditional bank. And your government benefits may hit your account up to four days early.

Plus, by using ASAP Direct Deposit, you can opt into Walmart’s overdraftprotection plan.

Other Add Money Options

The fastest way to reload your Walmart MoneyCard is via cash deposits with the app – you don’t even need your card present.

Simply take your phone to any Walmart MoneyCenter or Customer Service station, use the automatically generated barcode in your app, and use cash to reload your card right at the register.

Additionally, you can link other bank accounts via the MoneyCard app and set up free transfers to and from your selected accounts.

You have options to select when and how often to transfer money and automate transfers for future dates. (Keep in mind that bank transactions may take up to three days to process.)

If you’re an old-fashioned gal (or guy) who still uses paper checks, you can also deposit paper checks via the Walmart MoneyCard app.

Simply login to the app and follow the onscreen prompts. However, this option is the slowest, with up to a 10-day processing window.

No Monthly Fee (Applies to Balances of $500+)

The Walmart MoneyCard charges a monthly fee of $5.94 per primary account. But if you direct deposit at least $500 in the previous monthly period, you can waive this fee entirely.

Overdraft Protection

Overdraft protection is one of the newest features of the Walmart MoneyCard. If you opt-in and make eligible direct deposits, you may qualify for one of three tiers of overdraft protection, up to $200 in total.

That said, a $15 overdraft fee may apply for each purchase not repaid within 24 hours of the transaction that overdraws the account.

2% APY on Savings Accounts

The Walmart MoneyCard does one thing many competitors don’t: pay interest on your savings accounts.

When you set aside funds with the MoneyCard app, you can earn 2% APY on up to $1,000 per year.

>> More: Explore the Best High Yield Savings Accounts

Free Online Bill Pay

Like some of its competitors, Walmart offers free online bill pay with the MoneyCard. All you have to do is link your card to the applicable merchants, and voila!

Check Writing

Unusually, the Walmart MoneyCard lets you write paper checks to pay your bills, too. You can buy a set of 12 personalized checks for $5.95 in the mobile app.

Customer Service

If you encounter any problems with your Walmart MoneyCard, you can live chat with customer care about your concerns.

You can also watch their onboarding videos and view their full terms and conditions at

Walmart MoneyCard Fees

Walmart MoneyCard is reasonably low fee, but it’s not entirely free. To start, purchasing your card in-store costs $1, with a $5.94 monthly maintenance fee after that.

However, you can bypass the monthly fee by direct depositing $500 or more in your primary account.

Other potential Walmart MoneyCard fees include:

  • $3 for cash deposits at Walmart registers (without the MoneyCard app)
  • $5.95 reload fees at non-Walmart locations
  • $2.50 ATM withdrawal and bank teller fees
  • $15 overdraft fees if you don’t pay back the original transaction within 24 hours
  • $5.95 to order a 12-pack of paper checks
  • $3 card replacement fee ($15 for expedited delivery)

Who is the Walmart MoneyCard Best for?

The Walmart MoneyCard is best for frequent Walmart customers and those who want free bill pay and money transfers between friends and family.

Because it doesn’t require a credit check, it’s also ideal for those who’ve experienced trouble with bank accounts in the past.

Additionally, users who can deposit more than $500 per month to avoid the monthly fee will enjoy this virtually fee-free card.

How Does the Walmart MoneyCard Compare to Other Prepaid Debit Cards?

The Walmart MoneyCard isn’t the perfect choice for everyone. Let’s see how it stacks up against some of its competitors.

#1. Greenlight Debit Card for Kids vs. Walmart MoneyCard

The Greenlight debit card is an ideal card for parents who want to keep an eye on where, when, and how much their kids spend.

At $4.99 per month for up to five kids, it’s slightly cheaper than the base MoneyCard plan, though there’s no way to waive the Greenlight fee.

Plus, Greenlight doesn’t offer cash back, interest, or bonuses of any kind.

But for families with younger kids, the Greenlight debit card is better, as you must be at least 13 to hold a MoneyCard account.

Additionally, more expensive Greenlight accounts come with an investing account just for kids, so they can learn the value of the stock market early.

>>  More: Greenlight Debit Card Review

#2. Netspend® Prepaid Visa Card vs. Walmart MoneyCard

Netspend® is one of the costlier prepaid debit cards out there. Users have to decide between paying $9.95 per month or a pay-per-transaction model to keep their account open.

Additionally, there’s no free network for reloads or withdrawals, and Netspend® imposes an inactivity fee if you stop using your account.

However, their 5% APY on up to $1,000 outpaces Walmart’s 2% APY, hands-down.

>> More: Netspend Prepaid Card Review

#3. Walmart MoneyCard vs. Western Union Prepaid Mastercard®

The Western Union Prepaid Mastercard® provides direct deposit, money transfer, and spending abilities – all within the Western Union framework.

This card comes with perks such as 130,000 U.S. reload locations, text message alerts, free card personalization with a $500 direct deposit, and cashback rewards.

It also comes with a $10 purchase cushion. It also comes with a 5% APY savings account up to $1,000.

However, the Western Union Prepaid Mastercard® is more expensive than the Walmart MoneyCard with direct deposit.

Options include a pay-as-you-go plan at $1.50 per transaction, $9.95 per month for full benefits, or $5 per month with a $500 direct deposit.

>> More: Western Union Prepaid Mastercard Review

Frequently Asked Questions

Is Walmart MoneyCard Worth It?

The Walmart MoneyCard is worth it for individuals who will direct deposit at least $500 per month to waive the monthly fee, as well as those who do much of their shopping at or in Walmart stores. (And don’t forget that 2% cash back at Walmart gas stations.)

Plus, its $200 overdraft protection limit and $10,000 balance limit is more than many prepaid debit cards offer.

That said, $75 cash back per year is a fairly low cashback limit. Some prepaid cards offer better than 2% APY on their interest-bearing accounts.

Does Walmart Check My Credit?

Because the Walmart MoneyCard is a prepaid debit card, it doesn’t extend a line of credit or other debt.

As such, there’s no credit check or financial history check of any kind.

How Do I Check My Balance on My Walmart Debit Card?

You can check your balance instantly on the Walmart MoneyCard App.

Is the Walmart MoneyCard FDIC Insured?

Yes, the Walmart MoneyCard is FDIC insured through Green Dot Bank.

Bottom Line: Walmart MoneyCard Review

The Walmart MoneyCard is a decent option for frequent Walmart shoppers who want to enjoy cashback benefits on everyday Walmart purchases.

However, its free reload options are somewhat limited, and you have to have a smartphone with the MoneyCard app to enjoy the full perks. (Not to mention, there are almost no perks and much higher fees for shopping outside the Walmart network.)

But if you do your shopping – or fueling up – at Walmart and wouldn’t mind the $75 per year cashback, this may make a decent addition to your prepaid card repertoire.

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Jordan Blansit
Jordan Blansit

Jordan Blansit is a Senior Writer, Researcher, & Product Analyst for SimpleMoneyLyfe with an inexplicable predilection for mortgages, investing, and personal finance. When she’s not click-clacketing from the comfort of her living room, you can find her in the California Redwoods or Oregon Siskiyous. Jordan’s areas of expertise are mortgages, personal loans, credit cards, and investing.