Why Do Some Banks Direct Deposit Early
The most common reason for early deposit is that the bank itself uses an earlier date for processing checks. Most banks have a cutoff time for processing checks, typically around 3:00 p.m. local time. This means that if a check is deposited at 2:59 p.m., it will likely be processed that same day. If the check is deposited at 3:01 p.m., it will likely be processed the following business day.
What Bank Owns Green Dot
Founded in 1999 and headquartered in Austin, TX, Green Dot has served more than 33 million customers directly, and now operates primarily as a branchless bank with more than 90,000 retail distribution locations nationwide. Green Dot Bank is a subsidiary of Green Dot Corporation and member of the FDIC.
Walmart Moneycard Full Details
Who its good for: Frequent Walmart shoppers who dont have a free bank account or have low credit scores. The Walmart MoneyCard offers many of the services of a bank for free, including direct deposit and bill pay, and there are no minimum balance requirements. Plus you earn cash back rewards, just like a credit card without worrying about debt. Apply today.
- Card Opening Fee: $1
- Cash Reload Fee: $0 at Walmart, up to $5.95 at other retailers
- ATM Withdrawal Fee: $2.50 per withdrawal, plus ATM operator fee
- Rewards: 3% cash back on walmart.com and Walmart app purchases, 2% cash back at Walmart fuel stations, and 1% cash back at Walmart stores. Up to $75 each year.
- Mobile Check Deposit: You CAN deposit checks via the mobile app
- Foreign Transaction Fee: 3%
- Get Paid Early: Get your pay up to 2 days before payday & your benefits up to 4 days before benefits day with ASAP Direct Deposit.
- Monthly Fee: $5.94 waived if you load $1,000 or more to your card a month
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What Are The Fees On A Walmart Moneycard
There is $1 fee to open a Walmart MoneyCard and a $5.94 monthly fee to keep the account open.
However, the monthly fee is waived when you deposit $1,000 or more into your card each month.
The card also charges a $2.50 ATM withdrawal fee and a $0.50 ATM balance inquiry fee.
Users can withdraw cash from Walmart MoneyCenters and Customer Service desks at no extra charge.
If you find yourself outside the U.S. and using the Walmart MoneyCard, you will incur a 3% fee on the dollar amount of each transaction.
This card does not charge any overdraft fees. If you order a pack of 12 checks, it will cost you a $5.95 fee.
Monthly Fee Can Be Waived
Make sure youre aware of other fees associated with this card to avoid surprises.
For example, theres a monthly service charge of $5. Youll avoid this fee if you load $1,000 or more in the previous month.
The replacement card fee is $3. This applies if the card is lost, stolen, or damaged.
Another benefit of the Walmart MoneyCard is the ability to use it abroad, due to the Visa or MasterCard logo. Even so, be prepared to pay a foreign transaction fee of 3%.
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Is The Walmart Money Card Similar To A Bank Account
The Walmart Prepaid Money Card is a fantastic alternative for people who want to keep tabs on their spending but dont want a credit card nevertheless, it is not a bank account.
However, Walmarts pre-paid card is a Green Dot-issued reloadable Visa card, making it suitable for use at Walmart and other retail establishments that accept Visa.
You dont need a bank account or debit card to use it, and it offers several advantages for individuals who dont want to use cash or dont have a checking or savings account.
Purchase a Walmart Money Card for $1 in-store or create an account on the companys website to get started.
There are several advantages to using the Walmart Money Card, such as:
- Earn up to $75 cashback
- Earn 3% cashback on purchases from Walmart.com
- Get paid up to two days early
- Up to $200 overdraft protection with direct deposit
- Free in-store cash deposits
You can make ordinary purchases with this card at any Walmart store near you.
Earn Cash Back At Walmart
One of the great features of the Walmart MoneyCard® is the ability to earn up to 3% cash back rewards on purchases. Cardholders earn the rewards for the following purchases made at Walmart locations:
- 3% back at Walmart.com
- 2% back at Walmart fuel stations
- 1% back in-store at Walmart locations
Even though Walmart caps the cash back rewards to $75 per year, the Walmart MoneyCard® compares favorably to the Capital One® Walmart Rewards credit card from Capital One. That card earns an unlimited 5% back at Walmart.com, 2% in-store at Walmart, plus at Murphy USA fuel stations and Walmart fuel stations, and 2% back on dining and travel.
Capital Ones Walmart credit card also comes with a hard inquiry and might be out of reach for many, making the Walmart MoneyCard® a great option for the frequent Walmart shopper that wants to save on grocery deliveries, in-store purchases, and even gas but doesnt want the hassle of a credit card.
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What Bank Issues Walmart Store Card
If you shop frequently at Walmart for household items on a weekly basis, you might consider using a Walmart credit card in lieu of cash. If you pay it off every week, you can build your credit and earn rewards. Both Walmart cards are issued by Capital One as of 2021. There is up to a $39 late fee with both cards.
What Bank Is Green Dot Affiliated With
Green Dot is proud to partner with Bonneville Bank and the U.S. Treasury to help more Americans enter the financial mainstream with their own prepaid debit card account and avoid the cost and the time involved in otherwise waiting for and cashing a tax refund check,” said Steve Streit, Chairman and CEO, Green Dot …
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How Does The Walmart Moneycard App Work
The Walmart MoneyCard® app gives you 24/7 access and control of your money from virtually anywhere. With features like Slide for Balance, you can take a peek at your account balance with just one swipe.
The app allows you to:
- View account history
- Deposit cash at Walmart stores
- Instantly lock and unlock your card
- Transfer money to the card from another checking account
- Make individual or recurring digital payments
- Receive text alerts to keep track of your account
You can download the app for free via the Apple Store or Google Play.
How To Add Money To Your Card
You have a few ways to add money to your MoneyCard, including cash, bank transfer, direct deposit, and mobile check deposit.
You can load cash onto your card in several ways:
You can load personal checks written to you. Also, you can deposit commercial preprinted checks issued by a US business, such as:
- Cashiers checks
- Stock dividend checks
Additionally, you can load government-issued checks, including tax refunds and federal, state, and municipal government checks.
Another way to load money to your MoneyCard is to go online or use the mobile app to transfer money from your financial services account. Follow these steps:
You can also set up recurring payments from your checking account to your MoneyCard. Walmart MoneyCard® bank transfers are always free.
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How To Load Your Walmart Money Card
Kirsten Rohrs Schmitt is an accomplished professional editor, writer, proofreader, and fact-checker. She has expertise in finance, investing, real estate, and world history. Throughout her career, she has written and edited content for numerous consumer magazines and websites, crafted resumes and social media content for business owners, and created collateral for academia and nonprofits. Kirsten is also the founder and director of Your Best Edit find her on LinkedIn and Facebook.
The Walmart MoneyCard is a debit card that requires no bank account or credit check and therefore avoids overdraft fees. The MoneyCard is one of many prepaid debit card options that have come on the market over the last several years for those who are unable or unwilling to get traditional bank accounts. Available in either Visa or MasterCard versions, the card can be used not only at Walmart but also at any retailer that accepts Visa or MasterCard.
How To Transfer Money
You can transfer money from your MoneyCard to another person. You cannot transfer money from your MoneyCard to another account , but you can transfer money from an external account to the card.
If you want to transfer money to another individual in the US, you must have their mobile phone number and email address. Recipients must have a Walmart MoneyCard® to receive a transfer from another MoneyCard account. If the recipient doesnt have the card, they can go online to get one, register it, and then use the temporary card number to accept the transfer.
You can transfer money to another MoneyCard with the following steps:
You can use the MoneyCard to send money to recipients via Western Union, Ria, or MoneyGram. Recipients will receive the transferred money in their Walmart MoneyCard® account.
You can use the MoneyCards Online Bill Pay Service to set up a one-time or recurring payment to your landlord or any other company or person. There is no fee to use this service.
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What Is A Prepaid Debit Card
A prepaid debit card is a type of payment card that only lets you spend the money you load onto the card. They dont help you build credit. Like a debit card, a prepaid card works at any merchant that accepts its payment network, such as Visa, Mastercard or American Express. Its safer and more convenient than using cash. Usually the prepaid card has a mobile app to deposit checks and transfer money. Learn more on our guide to prepaid debit cards.
Unlike checking accounts, prepaid debit cards may lack some services such as free ATM or branch networks, checks, among others. If that doesnt work for you, see our list of best checking accounts. Or, if youve struggled with banks before, check out second chance checking options.
About The Walmart Moneycard
The Walmart MoneyCard is a reloadable prepaid debit card that you can use to make electronic purchases everywhere MasterCard or Visa debit cards are accepted.
Your card will come with many of the same features as a checking account. Use your card for direct deposit, and get paid up to two days early. Use mobile check deposit to cash checks, and load them to your balance. Write checks against your balance to pay bills and other expenses, or use the card’s free online bill-pay service.
If you have an Apple or Android smartphone, you can download the Walmart MoneyCard App to track the activity on your prepaid card.
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How Do I Activate The Walmart Moneycard
You can activate your Walmart MoneyCard® online or over the phone at 1-877-965-7848. If you purchase the card at a Walmart location, you can go online to register the starter card, thereby gaining partial functionality. You would then activate the personalized card when it arrives in the mail.
Registration and activation both require the following information:
- The cards 16-digit number
- The expiration date
- Your Social Security number
You must enter identifying data when you purchase the card online or register a store-bought card online.
Once activated, you can set up a PIN to allow debit purchase transactions. To get your PIN, you must provide the same data required to activate the card plus the last four digits of your Social Security number.
Unfortunately, the Walmart MoneyCard® cannot be obtained without a Social Security number.
What Is The Payment Network
The issuer of the Walmart MoneyCard®, Green Dot Bank, uses both Visa and Mastercard to process the cards payments.
The payment network facilitates transactions between card issuers and merchants. The networks use virtual payment infrastructures and charge interchange fees to merchants for processing transactions. The four big card payment processors in the US and Puerto Rico are Visa, Mastercard, Discover, and American Express.
Youll find either the Mastercard or Visa logo adorning the front of the Walmart MoneyCard®.
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Walmart Moneycard Or Credit Card: Which One Is Right For You
If you love to shop at Walmart, then you should consider one of Walmarts payment cards and start earning cash rewards today. There are three: Walmart MoneyCard, a preloaded bank card that earns cash back on Walmart purchases, a Walmart Rewards credit card that exclusively earns cash rewards on Walmart purchases, or the Capital One Walmart Rewards credit card that earns the highest cash back rewards on all purchases. Each card has its own benefits, so the Groupon Coupons team wrote this easy-to-follow guide so you can decide which one is right for you.
Best For Spending And Sharing Money As A Family: Famzoo Prepaid Card
The FamZoo Prepaid Card, one of the best prepaid debit cards for kids, lets you set up different accounts for your kids to teach them about spending, saving and giving. You can also set up savings goals and request payments as well as transferring funds for specific purchases. The FamZoo Prepaid Card is a Mastercard debit card.
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What Is The Cash Withdrawal Limit
You can withdraw money from your Walmart MoneyCard® at an ATM or a bank tellers window. The limit on ATM withdrawals is $500 a day, whereas $1,500 a day is the cap on bank teller withdrawals. You cannot withdraw cash from foreign ATMs.
You can also withdraw money at a Walmart checkout line. The limit is $1,000 per day, and Walmart reserves the right to reduce your withdrawal limits for security purposes.
For more details about the MoneyCards limits, check the cardholder agreement.
Observations From The Fintech Snark Tank
Walmart announced that its upgrading its Money Card prepaid debit card to a full-fledged demand deposit account . According to the retailers press release, cardholders will be able to get:
- A better opportunity to waive the monthly fee. Walmart will waive the monthly maintenance fee for cardholders who make a direct deposit of at least $500, half the amount required previously.
- Overdraft protection. Cardholders who make an eligible direct deposit can get up to $200 in overdraft protection.
- Money management features. Money Card customers will get access to the digital banking platform from Green Dot .
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What Is The Walmart Moneycard
The Walmart MoneyCard is a prepaid debit card that can be reloaded as needed. It is available as a prepaid MasterCard or prepaid Visa card. You can use the card the same way you would use a bank debit card, but you dont need a bank account to get one. It is issued by Green Dot Bank but is not linked to a bank account the way a traditional bank debit card is.
The MoneyCard is designed to reward loyal Walmart shoppers by giving them cash back on their purchases. Customers can earn up to $75 each calendar year just by shopping at Walmart and gaining the following rewards:
- Earn 3% back when you shop online through Walmart.com.
- Earn 2% back when you buy gas at Walmart fuel stations.
- Earn 1% back when you shop at any Walmart location.
Taxpayer Notifications Save You Time
Reduce “Where’s my refund?” calls from clients with email and text notifications sent to your clients when their money is ready.2
Up to $75 per year Cash Back is credited to card balance at end of Reward Year, and is subject to successful activation and other eligibility requirements. Visit WalmartMoneyCard.com for complete details.
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How Much Is A Walmart Moneycard
You can obtain the Walmart MoneyCard® online for free, but it will cost you $1 to buy it at a Walmart location.
The card will waive its monthly fee if you make at least $500 in eligible direct deposits during the previous statement period.
Statement periods begin when the card assesses your monthly fee and continue until your following monthly fee.
Family accounts are not charged additional monthly fees, but their eligible direct deposit transactions do not count toward the monthly fee waiver for the primary account holder.
How Much Money Can Be Direct Deposited On A Walmart Money Card
The Walmart MoneyCard deposit limit is $2,999 daily. However, please note that the balance of the card cannot exceed $10,000 at any time. If you have a Walmart MoneyCard with a cash back rewards program, you can also deposit money at participating Walmart locations using the app. The limit for this is $1,500.
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How To Reload Money Onto Your Card
There are a few ways to reload funds onto your Walmart MoneyCard.
You can use direct deposit, or Walmart check cashing, which allows you to load the card with personal checks written to you, payroll checks, insurance agency checks, money orders, cashiers checks, rebate checks, stock dividend checks, tax refunds, federal, state, and municipal government checks, and payroll or other government checks in any amount.
Rapid Reload with cash at participating Walmart stores allows you to load any amount from $20 to $1,500. Rapid Reload has a service fee of $3.
You can also use a MoneyPak, which can be purchased for $5.95 at a participating retailer. Add $20 to $500 and complete your transaction at MoneyPak.com.
Lastly, you can use online bank transfers from your bank to your card.
The maximum daily cash reload limit is $3,000. You can’t reload any cash onto your card if your current balance is over $3,000. You can only have a maximum of $10,000 on your card at any time, and you can only use your card for $3,000 in daily transactions. You can only withdraw $500 from an ATM, $1,000 from a Walmart register daily, and $1,500 from a teller transaction at a participating bank.